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Healthcare Analytical Testing Services Market 2024 - Global Industry Analysis, Size, Share, Upcoming Trends, Opportunities And Outlook By 2033
Healthcare Analytical Testing Services Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Healthcare Analytical Testing Services industry. This report on Healthcare Analytical Testing Services market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The healthcare analytical testing services market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.59 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to regulatory compliance, drug development and approval, clinical trials expansion, rise aging population, increased chronic diseases. The healthcare analytical testing services market size is expected to see rapid growth in the next few years. It will grow to $11.29 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%.
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Key Market Players:
Almac Group, ALS Limited, Anacura Life Sciences, Charles River Laboratories International Inc., Danaher Corporation, Element Materials Technology Group.
Market Drivers:
According to the Healthcare Analytical Testing Services Market Report 2024 by The Business Research Company, the increasing number of clinical trials is expected to drive the growth of the healthcare analytical testing services market. Clinical trials are research studies conducted with human participants to evaluate the safety and efficacy of medical treatments or interventions. Healthcare analytical testing services are used in clinical trials for assessment of drug safety and efficacy, dosing and formulation, data integrity, and quality control. For instance, in October 2023, according to ClinicalTrials.gov, a part of the National Institutes of Health (NIH), a US-based government agency responsible for conducting and supporting medical research, the number of registered studies increased from 437,523 in 2022 to 468,457 in all 50 states of the United States and across 221 countries. Moreover, it was reported that 143,613 studies (31% of the total) are registered in the U.S. only, while 251,159 studies (54% of the total) are registered in non-U.S. locations. Therefore, an increasing number of clinical trials are expected to propel the growth of the healthcare analytical testing services market.
More information about the Global Healthcare Analytical Testing Services Market Report -
https://www.thebusinessresearchcompany.com/report/healthcare-analytical-testing-services-global-market-report
Market segments for Healthcare Analytical Testing Services include:
1) By Type: Bioanalytical Testing Services, Physical Characterization Services, Method Development And Validation Testing Services, Raw Material Testing Services, Batch-Release Testing Services, Stability Testing, Microbial Testing Services, Other Types
2) By End User: Pharmaceutical And Biopharmaceutical Companies, Medical Device Companies, Contract Research Organizations
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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