Press release
Robust Growth Predicted for the Healthcare Analytical Testing Services Market: Soaring to $7.62 Billion in 2025 and Almost Doubling by 2029
Healthcare Analytical Testing Services Market
The global healthcare analytical testing services market is on an uptick, with remarkable growth trends and integral contributors driving the prospects of this market.
What Is The Projected Market Size Of The Global Healthcare Analytical Testing Services Market And Its Growth Rate?
o The healthcare analytical testing services market size is forecasted to swell from $6.63 billion in 2024 to $7.62 billion in 2025, a compound annual growth rate (CAGR) of 14.9%.
o The growth witnessed over recent years has been driven by regulatory compliance, drug development and approval, clinical trials expansion along with an aging population and increasing chronic diseases.
o The market size is predicted to accelerate and reach $13.04 billion in 2029, at a compound annual growth rate (CAGR) of 14.4%.
o The ascent during the forecast period will be led by telemedicine and remote monitoring, drug safety, pharmacovigilance, biopharmaceuticals, biosimilars, emerging markets and regulatory stringency.
What Is Driving The Growth In The Healthcare Analytical Testing Services Market?
The surge in chronic diseases could be pointed out as a key driver for the healthcare analytical testing services market's expansion. Chronic diseases are those lasting beyond three months, including arthritis, asthma, cancer, diabetes, among others. Healthcare analytical testing services are paramount for diagnosing and treating millions of patients suffering from these chronic diseases early on. For instance, according to India's online news and media website, Firstpost, diabetes cases in India are likely to double and reach 134 million by 2025. This increment in chronic diseases instrumentally steers the growth of the healthcare analytical testing service market.
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Who Are the Key Players Driving Healthcare Analytical Testing Services Market Growth?
o Almac Group
o ALS Limited
o Anacura Life Sciences
o Charles River Laboratories International Inc.
o Danaher Corporation
o Element Materials Technology Group
o Eurofins Scientific SE
o ICON plc
o Impact Analytical Testing Lab
o Intertek Group plc
o Merck KGaA
o Pace Analytical Services LLC
o PPD Inc.
o Sartorius AG
o SourceBio International plc
o Steris Corporation
o Syneos Health Inc.
o Thermo Fisher Scientific Inc.
o WuXi AppTec
o Analytical Bio-Chemistry (ABC) Laboratories
o Avance Biosciences
o Avista Pharma Solutions
o Avomeen Analytical Services
o BioPharma Services Inc.
o Boston Analytical
o Exova
o Laboratory Corporation
o MedPharm Inc.
o Micro Quality Labs
o Microbac Laboratories
o Microbac Laboratories Inc.
o Nelson Laboratories LLC
o Pacific Biolabs Inc.
o PPD Inc.
What Are The Key Trends In The Healthcare Analytical Testing Services Market?
o Advanced analytical techniques
o Data security and privacy
o Personalized medicine testing
o AI and machine learning applications
o Environmental and contaminant testing
What Are The Segments Of The Global Healthcare Analytical Testing Services Market?
o 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
o By End User: Pharmaceutical And Biopharmaceutical Companies, Medical Device Companies, Contract Research Organizations
Which Region Leads The Healthcare Analytical Testing Services Market?
North America was the largest region in the healthcare analytical testing services market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The report encompasses insights into different regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
https://www.thebusinessresearchcompany.com/report/healthcare-analytical-testing-services-global-market-report
The Healthcare Analytical Testing Services Market Global Market Report includes:
- Market Size Analysis: Analyze the Healthcare Analytical Testing Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Healthcare Analytical Testing Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Healthcare Analytical Testing Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Healthcare Analytical Testing Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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