Healthcare Analytical Testing Market is valued at USD 4.86 Billion in 2020 and expected to reach USD 11.08 Billion by 2027 with the CAGR of 12.50% over the forecast period.
Healthcare Analytical Testing Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027– Increasing number of clinical trials and growing demand for specialized testing services are some of the major factors driving the Global Healthcare Analytical Testing market.
Healthcare analytics is analysis that focuses on offering insights into hospitals management, patient’s records, costs, diagnosis and more. Healthcare analytics helps managers operate better by providing real-time information that can support decisions and deliver actionable insights. Analytic testing is referred to material testing, is use to describe various techniques which are used to identify the chemical makeup or characteristics of a particular sample. The Healthcare analytical testing services are precisely utilized by the biopharmaceutical, pharmaceutical and medical device manufacturers for offering support to all the stages involved in the drug development process.
Global healthcare analytical testing market report is segmented on the basis of type, end-user and region & country level. Based upon type, the market is segmented into bioanalytical testing services, physical characterization services, method development and validation, raw material testing, batch release testing services, stability testing and other. Based upon end-user, the market is divided into pharmaceutical and biopharmaceutical companies, medical device companies and contract research organizations.
The regions covered in this Healthcare Analytical Testing market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Healthcare Analytical Testing sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
April 10th, 2017; SL Pharma Labs is acquired by Exova Group for an undisclosed price, the acquired company’s M&A advisor said today, in a deal that brings the contract research and development organization under the control of a global testing company.
Growing acceptance of quality by design (QbD) approach in pharma manufacturing, increasing demand by pharmaceutical companies, companies providing healthcare analytical services, and high demand of tests required for biosimilar compounds and biologics are some of the major factors driving the market growth. Additionally, the increasing growth biopharmaceutical industry leads to the rising demand for bioanalytical testing. For example; according to U.S. Department of Commerce; more than 30% of the global market for biopharmaceuticals is based in the United States. However, lack of trained and technically sound professionals, pricing competition faced by major players and Inadequate of expertise may hamper the healthcare analytic testing market growth. In spite of that, increased government spending for healthcare analytics and infrastructure may create the number of opportunities for the further growth of the global healthcare analytic testing market.
North America is expected to dominate the global healthcare analytic testing market owing to the rapidly increasing penetration of biopharmaceutical companies in U.S, growing research and development expenditure in this field in this region. Among U.S. industries, the biopharmaceutical industry stands out as a leader in innovation-led development. One of the major characteristic of the U.S. biopharmaceutical industry is that the innovation activities take place across the nation. R&D investments of established and emerging biopharmaceutical companies are geographically dispersed, with a high share of industry-sponsored clinical trial activities and patent activity found across the U.S. In 2014 alone, 21 states had more than 500 biopharmaceutical-related patents issued, and 13 of these had more than 1,000 patents issued. Thus, this reflects the substantial R&D activity taking place in these states. Asia pacific is expecetd to witness a significant growth in the global healthcare analytic testing market owing to the increasing population, demand for bioanalytical testing and increasing technological advancement in biopharmaceuticals in this region.
|Market Size in 2019:
|US$ 4.32 Billion
|Market Historical Analysis:
|Forecast Period CAGR %:
|Market Size Expected to reach in 2026:
|US$ 9.85 Billion
|Tables, Charts & Figures:
|lmac Group, Exova Group, Eurofins Scientific, PPD, Source BioScience, LabCorp, Anabiotec, Charles River Laboratories, Intertek Group, Wuxi PharmaTech, BioReliance and others.
|Test Type, End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Middle East and Africa
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