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Covid-19 impact on - Pharmaceutical Analytical Testing Outsourcing Market 2020 Industry Research, Share, Trend, Industry Size, Price, Future Analysis, Regional Outlook to 2026 Research Report | DBMR Updates
Pharmaceutical Analytical Testing Outsourcing Market
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Global pharmaceutical analytical testing outsourcing market is expected to rise to an estimated value of USD 10.42 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the constrained budgets and the need for reducing the R&D expenses as well as manufacturing costs.
Few of the major competitors currently working in the global pharmaceutical analytical testing outsourcing market are SGS SA; TOXIKON; Eurofins Scientific; Pace Analytical Services, LLC; Intertek Group plc; Pharmaceutical Product Development, LLC; Exova; Charles River; Boston Analytical; West Pharmaceutical Services, Inc.; Dalton Pharma Services; Merck KGaA; Cambrex Corporation; WuXi AppTec; Source BioScience; Ajinomoto Bio-Pharma; Catalent, Inc; Gateway Analytical; Alcami Corporation; Aztech Sciences Inc.; Recro Gainesville and Next Breath, a division of AptarGroup Inc.
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Market Analysis:
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Market Definition: Global Pharmaceutical Analytical Testing Outsourcing Market
Pharmaceutical analytical testing outsourcing is the constitution of services from the manufacturing, testing and validating the pharmaceuticals and therapeutics. This involves validating pharmaceutical ingredient, compounds, manufacturing methods required for the development of these drugs. These outsourcing services are provided by specialized manufacturing organizations that are solely focused on outsourcing of these activities.
Segmentation: Global Pharmaceutical Analytical Testing Outsourcing Market
Pharmaceutical Analytical Testing Outsourcing Market : By Service Type
Bioanalytical Testing
Method Development & Validation
Stability Testing
Others
Pharmaceutical Analytical Testing Outsourcing Market : By Product Type
Raw Materials
Finished Product
Active Pharmaceutical Ingredients
Pharmaceutical Analytical Testing Outsourcing Market : By End-Users
Pharmaceutical & Biopharmaceutical Companies
Biotechnology Industry
Pharmaceutical Analytical Testing Outsourcing Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
Key Developments in the Pharmaceutical Analytical Testing Outsourcing Market:
In April 2019, Charles River announced that they had completed the acquisition of Citoxlab. This acquisition will provide further expansion of geographical stronghold of Charles River due to Citoxlab's expertise in providing CRO (Contract Research Organization) services to the North America and European region. This acquisition is a strategic step as the trend for outsourcing pharmaceutical and biotechnology services is on the rise.
In September 2018, Cambrex Corporation announced that they had completed the acquisition of Halo Pharma, adding formulation development and finished dosage manufacturing capabilities to the Cambrex service portfolio. This acquisition will also help them in providing pharmaceutical, biotech organizations manufacturing and development services.
Pharmaceutical Analytical Testing Outsourcing Market Drivers :
Increasing usage of pharmaceuticals and therapeutics requiring specialized manufacturing capabilities; this factor is expected to drive the growth of the market
Growth in modernization and innovations requiring reduction of operating costs of manufacturing and development; this factor is expected to enhance the growth of the market
Presence of strict regulations and requirement of pertaining to the standards provided by the authorities; this factor is expected to flourish the growth of the market
Pharmaceutical Analytical Testing Outsourcing Market Restraints :
Reliance on performance of unstable outsourced manufacturing organizations; this factor is expected to hamper the market growth
Concerns regarding privacy/theft of confidential data of manufacturing pharmaceuticals; this factor is expected to restrain the market growth
The Pharmaceutical Analytical Testing Outsourcing Market report describes a comprehensive insight into the application scope of the market. In addition, the report comprises details relevant to the market share obtained by various segments. Information about the revenue gathered from the segments along with the projected sales for the project duration is stated in the document. Essential insights about the vital parameters such as the competition trends and market focusing rate is included in the report. The Pharmaceutical Analytical Testing Outsourcing Market analysis report describes details about the marketing channels accepted by the manufacturers for their products in tandem with the information regarding the traders, distributors, and dealers competing in the market.
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