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Healthcare Analytical Testing Services Market worth $11.1 billion by 2027 - Leading Key Players are Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), SGS S.A. (Switzerland), Charles River Laboratories (US), WuXi AppTec Co.
Healthcare Analytical Testing Services Market worth $11.1 billion by 2027
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The bioanalytical testing services segment holds the largest share in the healthcare analytical testing services market in 2021
Based on type, the healthcare analytical testing services market is segmented into segmented into bioanalytical testing, physical characterization, method development & validation, stability testing, batch-release testing, raw material testing, microbial testing, and environmental monitoring services. In 2021, the bioanalytical testing segment accounted for the largest share of the healthcare analytical testing services market. The large share of this segment is attributed to the growing adoption of outsourced research & development services by the biopharmaceutical companies to reduce inhouse research cost and streamline their core competencies.
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The laser particle size analysis service segment holds the largest share in the physical characterization services market
Based on type, the physical characterization services market is segmented into laser particle size analysis, thermal analysis, image analysis, surface area analysis, and other physical characterization services. In 2021, the laser particle size analysis segment dominated this market. This method has developed considerably over the years as has the capability to analyze a broad size range in a variety of dispersion media. Manufactures and end users of powdered materials depend on these accurate, reproducible, and high-resolution light scattering measurements to ensure full characterization of the particle size distribution of their sample. This makes particle size analysis an important component in manufacturing and formulating pharmaceutical dosage forms.
The pharmaceutical & biopharmaceutical companies segment accounted for the largest share of the healthcare analytical testing services market
Based on end user, the healthcare analytical testing services market is segmented into pharmaceutical & biopharmaceutical companies, medical device companies, and contract research organizations. In 2021, the pharmaceutical & biopharmaceutical companies segment dominated this market. Growth in this segment is mainly driven by the growing demand for healthcare analytical testing services among pharmaceutical companies to facilitate clinical trials, and drug development processes.
North America holds the largest market share of the healthcare analytical testing services market
North America accounted for the largest share of the healthcare analytical testing services market in 2021. Growth in this market is mainly attributed to the rapid growth in the biosimilars and biologics markets in the region, technological advancements, pricing benefits of outsourcing, and the rising demand for healthcare testing services across US.
Healthcare Analytical Testing Services Market Dynamics:
Drivers:
Growing focus on analytical testing of biologics & biosimilars
Increasing outsourcing of analytical testing by pharmaceutical and medical device companies
Increasing number of clinical trials
Growing R&D expenditure in pharmaceutical & biopharmaceutical industry
Rising acceptance of quality-by-design approach in pharma research and manufacturing
Restraints:
Shortage of skilled professionals
Increasing pressure on market players due to rising costs and market competition
Opportunities:
Adoption of new techniques and technologies
Growing focus on emerging markets
Challenges:
Specific requirements for innovative formulations and medical devices
Need to improve sensitivity of bioanalytical methods
Key Market Players:
Prominent players in the healthcare analytical testing services market include Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), SGS S.A. (Switzerland), Charles River Laboratories (US), WuXi AppTec Co. Ltd. (China), Element Materials Technology (UK), Thermo Fisher Scientific Inc. (US), Pace Analytical Services, LLC (US), Intertek Group LLC (UK), IQVIA Inc. (US), Merck KGaA (Germany), Source BioScience (UK), Almac Group (UK), ICON Plc (Ireland), Frontage Laboratories, Inc. (US), STERIS Plc (US), Sartorius AG (Germany), ALS Life Science (US), Syneos Health, Inc. (US), Medpace Holdings, Inc. (US), LGC Limited (Cinven) (UK), Parexel International Corporation (US), Celerion (US), Absorption Systems LLC (US), and BioAgilytix Labs (US).
Recent Developments:
In July 2022, LabCorp (US) partnered with MD Anderson Cancer Center Foundation to accelerate new discoveries and development of cancer therapies worldwide. It also aims to meet the growing demand for and access to early-phase oncology clinical trials throughout Spain.
In March 2022, WuXi Advanced Therapies (WuXi ATU) launched Tetracycline-Enabled Self-Silencing Adenovirus (TESSA). To ensure stable gene therapy production, the novel TESSA technology is integrated with intricate testing capabilities
In July 2022, SGS acquired Silver State Analytical and Excelchem to expand its environmental testing capabilities in western US. This was also a part of SGS Group's global strategy for the Industries & Environment sector
In March 2022, Thermo Fisher (US) collaborated with Symphogen (US) to provide biopharmaceutical discovery and development laboratories with innovative tools and streamlined workflows for efficient characterization of complex therapeutic proteins.
In April 2021, Charles River Laboratories (US) acquired Retrogenix Ltd. (UK), which provides air sampling and quality and offers cell microarray services, to boost its early-stage contract research organization offerings.
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