Healthcare Analytical Testing Services Market Ready to Cross US$ 5.97 Billion by 2023 - Driven by Euro fins Scientific (Luxembourg) and Charles River Laboratories (US)

Prominent players in healthcare analytical testing services market report are Euro fins Scientific (Luxembourg), Charles River Laboratories (US), Almac Group (UK), Exova Group (UK), PPD (US), Source BioScience (UK), Anabiotec (Belgium), Intertek Group (UK), Wuxi Pharma Tech (China), and BioReliance (US).

Report analyzes global healthcare analytical testing services market by type, end user, and region. On basis of type, bioanalytical testing segment accounted for largest share of healthcare analytical testing servicess market in 2017. Large share of this segment is due to increasing number of drugs in the biopharmaceutical pipeline and the growing biopharmaceutical industry.

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Healthcare analytical testing services market expected to reach USD 5.97 billion by 2023 from an estimated USD 3.43 billion in 2018, at a CAGR of 11.7%. Shift of focus towards analytical testing of biologics & biosimilars, increasing outsourcing of analytical testing by pharmaceutical companies, increasing acceptance of QbD approach in pharma research/manufacturing, & adoption of FTE contracts in R&D outsourcing are major factors driving growth of healthcare analytical testing services market.

Objectives of the Study
• To define, describe, and forecast the healthcare analytical testing services market on the basis of type, end user, and region
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the healthcare analytical testing services market with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World
• To profile the key players in the healthcare analytical testing services market and comprehensively analyze their core competencies
• To track and analyze competitive developments such as collaborations, partnerships & agreements, mergers and acquisitions, new service developments, and R&D activities of the leading players in the healthcare analytical testing services market

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Healthcare analytical testing services market is segmented into pharmaceutical & biopharmaceutical companies, medical device companies and contract research organizations. The pharmaceutical & biopharmaceutical companies segment is the fastest-growing end-user segment in the healthcare analytical testing services market during the forecast period.

Key Target Audience:
• Healthcare Analytical Testing Service Providers
• Pharmaceutical and Biopharmaceutical Companies
• Contract Research Organizations (CROs)
• Medical Device Manufacturing Companies
• Government Associations
• Market Research and Consulting Firms
• Venture Capitalists and Investors

North America held the largest share of the global healthcare analytical testing services market in 2017. On the other hand, the APAC region is expected to witness the highest CAGR during the forecast period, due to the increasing R&D funding, growing number of CROs, and favorable government initiatives to promote pharmaceutical and biopharmaceutical industries in several APAC countries.

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Geographically, healthcare analytical testing services market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America accounted for largest share of healthcare analytical testing services market, followed by Europe and Asia Pacific. Presence of a well-established pharmaceutical industry in region, coupled with high R&D expenditure, growth in biosimilars and generics markets, increasing number of analytical testing service providers.

Geographic Analysis
• Further breakdown of the Rest of Asia-Pacific healthcare analytical testing services market into Singapore, Australia, New Zealand and others
• Further breakdown of the Rest of Europe healthcare analytical testing services market into Belgium, Russia, Netherlands, and others
• Further breakdown of the Latin America healthcare analytical testing services market into Brazil and Mexico.

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This release was published on openPR.