Pharmaceutical Testing and Analytical Services Market Growth, Trends and Forecast 2020-2030

Analytical Services Support Development of Small-molecule COVID-19 Drugs

The coronavirus (COVID-19) outbreak has put immense pressure on the life sciences industry to innovate in vaccines and treatments. Hence, the RSSL Group has stepped in to offer analytical support services to pharmaceutical companies.

Currently, there is an unprecedented demand for technical support pertaining to raw material and finished product testing. Hence, companies in the pharmaceutical testing and analytical services market are meeting demands pertaining to the development of small-molecule drugs and vaccines.

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Apart from drugs, companies in the pharmaceutical testing and analytical services market have joined the race to innovate in disinfectants and medical devices that help in combating coronavirus. There is a growing demand for an agile approach and rapid response in the realm of COVID-19 medical treatments. Companies are establishing multi-disciplinary groups that are working on accelerated deadlines. These groups comprise of specialists that conduct contamination identification.

Australian Companies Seek Queues from NMI in Low-level Active Ingredients Measurement
Apart from growth opportunities in North America, companies in the pharmaceutical testing and analytical services market are unlocking business avenues in Australia. As such, the National Measurement Institute (NMI) dictates analytical services for Australian manufacturers.

Companies in the Australia pharmaceutical testing and analytical services market are boosting their credibility by complying with the regulations laid down by the NMI. As such, the Australia Government is investing in state-of-the-art laboratories that carry out low-level active ingredients measurement and testing of organic residues in medicines.

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Companies are gaining efficacy in specialized testing for product verification validation.

They are increasing their services to provide consultation to clients that are facing problems in chemical analysis. There is a demand for professional and impartial measurement services. After the coronavirus outbreak, companies are acquiring proficiency in crisis response testing.

Companies Expand Portfolio in Release Testing of Innovative Products and Microbiology

The pharmaceutical testing and analytical services market is projected to reach the value of US$ 10.7 Bn by the end of 2030. This is evident since the U.S. employers spend billions of dollars in pre-employment drug testing.

However, it has been discovered that urine . Hence, companies in the pharmaceutical testing and analytical services market .

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There is a growing demand for pharmaceutical testing and analytical services with regard to biological and chemical substances. Solvias- a specialist in contract services for pharmaceutical, biotech, and medical device companies, is expanding its portfolio in elemental and trace analysis, microbiology, and release testing of innovative products. Companies are building a solid reputation with pharmaceutical companies to conduct analysis of biosimilars, monoclonal antibodies, and therapeutic proteins.

Pharmaceutical Testing and Analytical Services Market: Overview

• Pharmaceutical testing and quality assurance are important in the pharmaceutical industry. Testing and analysis are carried out, as people's lives are dependent on the quality and quantity measure of a given medicine.

• Pharmaceutical testing and analytical services include bioanalytical testing, method development & validation, raw material testing, stability testing, microbial testing, and others. The analytical method used for the analysis of biotechnological or biological products is known as bioanalytical testing. Bioanalytical tests are utilized in drug discovery, drug development, and in the commercialization of drugs.

• The global pharmaceutical testing and analytical services market has expanded significantly in the last decade due to rise in the number of clinical trials and increase in R&D spending

• Rise in the number of clinical trials is a major factor boosting the market. The number of clinical trials being conducted globally has been increasing significantly for the past few years. Rise in the number of clinical trials is being driven by a surge in the demand for innovative solutions in the healthcare industry, owing to technological advancements in the industry. For instance, in 2018, 293,341 active clinical trials were carried out for the design and development of new products.

• Rise in R&D spending and increased focus of biopharmaceutical companies on boosting revenues have propelled the pharmaceutical testing and analytical services market. Drug research and development costs are significantly high. These costs have been increasing consistently over the past few years.

Cost of manufacturing a new molecule entity (NME) was estimated to have ranged between US$ 2 Bn to US$ 3.5 Bn in 2019. Furthermore, total research and development spending is anticipated to increase at a rate of over 2% to 3% by 2020, primarily driven by significant unmet needs and strong technological advances.

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• The analytical testing industry has been witnessing a high volume of acquisitions over the past few years. On January 3, 2020, Charles River Laboratories International, Inc. acquired HemaCare, a leading company specializing in the production of human derived cellular products for the cell therapy market.

• These factors are projected to drive the pharmaceutical testing and analytical services market during the forecast period

Market Segmentation: Pharmaceutical Testing and Analytical Services Market

• Based on service type, the global pharmaceutical testing and analytical services market has been divided into type bioanalytical testing, method development & validation, raw material testing, stability testing, microbial testing, and others. The bioanalytical testing segment has been further divided into cell-based assays, virology testing, and others.

• The method development & validation segment has been further sub-segmented into extractables & leachables method development and validation, stability-indicating method validation, process impurity method development & validation, and others. Raw material testing includes heavy metal testing, complete compendial testing, and others. The stability testing segment has been further classified into drug substance stability testing, formulation evaluation stability testing, and others.

The microbial testing segment has been further divided into microbial limit testing, sterility testing, endotoxin testing, and others.

• The bioanalytical testing segment is likely to dominate the global pharmaceutical testing and analytical services market during the forecast period

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• In terms of end-user, the global pharmaceutical testing and analytical services market has been categorized into medical device companies, pharmaceutical & biopharmaceutical companies, and others. The pharmaceutical & biopharmaceutical companies segment dominated the global pharmaceutical testing and analytical services market, in terms of revenue, in 2019.

• Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The report provides current and expected revenue (US$ Mn) for each of these segments from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.

Regional Overview: Pharmaceutical Testing and Analytical Services Market

• In terms of region, the global pharmaceutical testing and analytical services market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.

• The current and expected market value (US$ Mn) of these regional markets and their major countries have been provided in the report from 2018 to 2030, with their CAGRs from 2020 to 2030

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• The study also offers a list of recommendations, highlights, and useful insights of the global pharmaceutical testing and analytical services market, which would help new companies willing to enter the market and existing companies to increase market shares, and help in the decision-making process

Pharmaceutical Testing and Analytical Services
Market: Major Players

• The pharmaceutical testing and analytical services market report concludes with the company profiles section, which includes key information about major players in the global pharmaceutical testing and analytical services market
• Leading players analyzed in the pharmaceutical testing and analytical services market report include
o Eurofins Scientific,
o Laboratory Corporation of America Holdings,
o CHARLES RIVER LABORATORIES INTERNATIONAL, INC.,
o SGS S.A.,
o Intertek Group plc,
o RD Laboratories, Inc.,
o WuXi AppTec Co., Ltd.,
o DYNALABS LLC (Infinity Laboratories),
o ARL Bio Pharma

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