Dublin, Sept. 22, 2022 (GLOBE NEWSWIRE) — The “Health Analytical Testing Services Market Size, Share and Trend Analysis Report by Type (Medical Device, Pharmaceutical), by Region (APAC , North America, Europe, MEA) and “Industry Forecast, 2022-2030” report has been added to from ResearchAndMarkets.com offer.
The global healthcare analytical testing services market size is expected to reach USD 25.1 billion by 2030, registering a CAGR of 8.3% over the forecast period, according to this report.
Growing outsourcing of healthcare analytical testing services, increasing demand for biosimilars, and growing number of clinical trials are some of the major factors driving the growth of the industry. Additionally, the COVID-19 pandemic has contributed to the growth of the industry. Biosimilars are drugs that have received FDA approval and share the approved characteristics of many biologic drugs. Compared to biologics, they are a more affordable and effective treatment alternative, and it is expected that this will significantly increase demand in the years to come.
Analytical testing is highlighted as a crucial step in the development of biosimilars in an article by Sandoz International GmbH, increasing the demand for such services. The global COVID-19 pandemic is expected to provide strong growth opportunities for providers of these services.
As pharmaceutical companies around the world have begun clinical trials for the development of therapeutic vaccines and drugs for the treatment of COVID-19, the demand for analytical testing has increased. Additionally, to combat the coronavirus, the growing need to meet global requirements for medical devices and pharmaceuticals, which must undergo rigorous testing before being distributed to customers, has boosted the industry’s output. This, in turn, should increase the demand for such services.
Highlights of the Healthcare Analytical Testing Services Market Report
- The medical and pharmaceutical devices market has stringent regulations hence they are adopting analytical testing services which are driving the growth of the market
- Pharmaceutical Analytical Testing Services Market Held the Largest Market Share of 58.5% in 2021
- North America led the global market with the largest revenue share of 53.7% in 2021 owing to the presence of the largest clinical trial market in the United States.
- The Asia-Pacific region is expected to grow at the fastest CAGR of 9.5% over the forecast period
- This growth can be attributed to the development and expansion of new facilities in different countries present in this region
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive Summary
Chapter 3. Healthcare Analytical Testing Services Market Variables, Trends and Scope
Chapter 4. Healthcare Analytical Testing Services Market: Type Estimates and Trend Analysis
Chapter 5. Healthcare Analytical Testing Services Market: Regional Estimates and Trend Analysis
Chapter 6. Competitive Landscape
- Development of pharmaceutical products
- SA ICON
- Charles River International Laboratories Inc.
- Syneos Health
- SGS S.A.
- Toxicon, Inc.
- Intertek Group
- Pace Analytical Services, LLC
- Eurofins Scientific
For more information about this report visit https://www.researchandmarkets.com/r/7u5iih
Global Healthcare Analytical Testing Services Market