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Healthcare Analytical Testing Services Market

Healthcare Analytical Testing Services Market Size, Share & Segments by Type (Raw Material Testing Services, Bio analytical testing services, Physical Characterization Services, Batch- release Testing Services, Environmental Monitoring Services, Microbial Testing), By End User (Contract Research Organizations, Medical Device Companies, Pharmaceutical and Biopharmaceutical Companies), and by Regions | Global Market Forecast 2022-2028

Report Id: SNS/HC/1048 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Healthcare Analytical Testing Services Market Size was valued at USD 11.04 billion in 2021, and is expected to reach USD 24.46 billion by 2028, and grow at a CAGR of 9.4% over the forecast period 2022-2028.

Pharmaceutical, biopharmaceutical, and medical device companies frequently use healthcare analytical testing services to help their drug development efforts at all stages. The services can help with medication development from invention to medical development and clinical trials to commercialization.

Healthcare Analytical Testing Services Market

The increasing outsourcing of analytical testing by pharmaceutical companies, the increased focus on analytical testing of biologics and biosimilars, and the growing acceptance of the quality-by-design approach in pharma research and manufacturing are some of the factors driving the growth of the healthcare analytical testing services market. The rising demand for specialized analytical testing services, on either hand, will create many chances for the healthcare analytical testing services market to expand over the forecast period.

During the forecast period, a scarcity of skilled individuals may limit the growth of the healthcare analytical testing services market. The need to improve the sensitivity of bioanalytical methods, on the other hand, would pose a hurdle to the expansion of the healthcare analytical testing services market.

MARKET DYNAMICS

 DRIVERS

  • Analytical testing

  • Early Stage development Efforts

RESTRAINTS

  • Lack of skilled professionals

  • The pharmaceutical industry's shift toward new molecular structures

OPPORTUNITIES

  • Emerging Market

  • Innovative formulations and medical gadgets have unique requirements.

CHALLENGES

  • Pharmaceutical firms of various sizes have varied requirements.

  • Variety of analytical techniques for evaluating novel drug compounds

IMPACT OF COVID-19

There is an ongoing slowdown in the healthcare business due to the global epidemic of COVID-19 and the mandated lockout. COVID-19 was similarly terrible for major world economies, particularly the healthcare industry, aside from communities. Major parties are still adapting their strategies to the quickly shifting scenario. Coronavirus is supposed to have long haul ramifications for the medical services industries. Until the crisis passes, countries and important players would have to make significant healthcare changes.

Technological advancements, cost containment, and expanded access will all be part of healthcare reform in the near future. In the present pandemic, digital health and telemedicine have taken center stage. The need of diagnostic testing, care, and consultation was stressed again at COVID-19. Telehealth development has slowed down lately because of administrative and social imperatives. Not with standing, in light of the fact that numerous medical care suppliers are as of now exploring different avenues regarding video conferencing and calls, this fragment's development will soar in the following two years.

Patients with moderate symptoms were also required to consult online under the interpersonal distancing measures. Furthermore, it significantly lessens the load on hospitals already overburdened by COVID-19 patient counts. Medical IoT devices that live with patients at home are now being utilized to improve intensive therapy and reduce recurrent visits, and these devices can even be employed in an emergency. The pandemic put considerable strain on resources. This is projected to lead to the establishment of competitive pricing and value-based pricing structures, accelerating future market growth. COVID-19 is projected to have a substantial impact on the market for health analytical testing services, given these factors.

By type

Stability testing, batch-release testing, raw material testing, microbiological testing, and environmental monitoring are some of the services we provide. The bioanalytical testing services sector will hold the biggest market share. The high proportion of this market can be attributed to their effectiveness in lowering drug development costs by successfully analyzing therapeutic entities across the drug development cycle. The market for bioanalytical testing services is being driven by the time restrictions and excessive costs of drug discovery and development in biopharmaceutical research.

By End User

Pharmaceutical and biopharmaceutical firms, medical device companies, and contract research organizations (CROs) make up the healthcare analytical testing services industry. The growing outsourcing of analytical testing services by major organizations to enhance profit margins, minimize excessive capital expenditure, and focus on their core business strengths is responsible for a considerable proportion of this category.

COMPETITIVE LANDSCAPE

PPD, Inc., Syneos Health, Intertek Group, LabCorp, ICON plc, Toxikon, Inc., Pace Analytical Services, LLC, Charles River Laboratories International, Inc., Eurofins Scientific, SGS SA, and Other players.

MARKET SEGMENTATION:

By Type

  • Raw Material Testing Services

  • Bioanalytical testing services

  • Physical Characterization Services

  • Batch-release Testing Services

  • Environmental Monitoring Services

  • Microbial Testing

By End-User

  • Contract Research Organizations

  • Medical Device Companies

  • Pharmaceutical and Biopharmaceutical Companies

Healthcare Analytical Testing Services Market

REGIONAL ANALYSIS

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa make up the healthcare analytical testing services market. North America held the greatest share of the market for healthcare analytical testing services. This regional segment's substantial share can be ascribed to the presence of a well-established foundation of pharmaceutical and biopharmaceutical companies, strong investments in the biosimilars and biologics segment and increasing R&D expenditure are all factors in this region's large stake.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

 

Healthcare Analytical Testing Services Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 11.04 Billion
Market Size by 2028 US$ 24.46 Billion
CAGR CAGR of 9.4% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Raw Material Testing Services, Bio analytical testing services, Physical Characterization Services, Batch- release Testing Services, Environmental Monitoring Services, Microbial Testing)
• By End User (Contract Research Organizations, Medical Device Companies, Pharmaceutical and Biopharmaceutical Companies)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles PPD, Inc., Syneos Health, Intertek Group, LabCorp, ICON plc, Toxikon, Inc., Pace Analytical Services, LLC, Charles River Laboratories International, Inc., Eurofins Scientific, SGS SA
DRIVERS • Analytical testing
• Early Stage development Efforts
Restraints • Lack of skilled professionals
• The pharmaceutical industry's shift toward new molecular structures


Frequently Asked Questions (FAQ) :

Healthcare Analytical Testing Services Market Size was valued at USD 11.04 billion in 2021.

PPD, Inc., Syneos Health, Intertek Group, LabCorp, ICON plc, Toxikon, Inc., and Pace Analytical Services, LLC are the key players in the Healthcare Analytical Testing Services Market.

North America held the greatest share of the market for healthcare analytical testing services.

Analytical testing, Early-Stage Development Efforts, are all propelling the Healthcare Analytical Testing Services market forward.

The lack of skilled professionals and the pharmaceutical industry's shift toward new molecular structures are the main restraints of the Healthcare Analytical Testing Services market.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Healthcare Analytical Testing Services Market Segmentation, By type

8.1 Raw Material Testing Services

8.2 Bioanalytical testing services

8.3 Physical Characterization Services

8.5 Batch- release Testing Services

8.6 Environmental Monitoring Services

8.7 Microbial Testing

 

9. Healthcare Analytical Testing Services Market Segmentation, by End User

9.1 Contract Research Organizations

9.2 Medical Device Companies

9.3 Pharmaceutical and Biopharmaceutical Companies

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3     Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4     Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5     The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6     Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11. Company Profiles

11.1 PPD, Inc.

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Syneos Health

11.3 Intertek Group

11.4 LabCorp

11.5 ICON plc

11.6 Toxikon, Inc.

11.7 Pace Analytical Services, LLC

11.8 Charles River Laboratories International, Inc.

11.9 Eurofins Scientific

11.10 SGS SA.

 

12. Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

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