SAN FRANCISCO, February 9, 2017 /PRNewswire/ --
The global pharmaceutical analytical testing outsourcing market is expected to reach USD 9.6 billion by 2025, according to a new report by Grand View Research, Inc. The performance of market players in pharmaceutical analytical testing domain is highly influenced by the level of demand from end-user side. Due to intense market efforts, increasing awareness level, improving accessibility, and government initiatives, consumers, these days, are more concerned about self-care, resulting in higher consumption of pharmaceutical products.
The consumption levels are anticipated to rise exponentially over the forecast period. The companies and government organizations are working collaboratively to bridge the gap between supply and demand. As a result, companies have to realign their manufacturing capabilities to meet the increasing demand.
A major price difference between conducting analytical tests in-house and outsourcing has been observed. Companies may lack the required set-up and expertise to perform every possible test in-house. In addition, there is serval no routine activities that are needed to be performed only once. These include registration stability storage & testing, process & facility validation work, cleaning validations, analytical testing using expensive equipment & method development. For such tests, the best option is to outsource it to a specialty firm that has expertise and experience in this vertical. Outsourcing benefits companies with various aspects such as personnel management and reduction of equipment, validation & maintenance cost.
Browse full research report with TOC on "Pharmaceutical Analytical Testing Outsourcing Market Analysis By Services (Bioanalytical Testing, Method Development and Validation, Stability Testing), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/pharmaceutical-analytical-testing-outsourcing-market
Further key findings from the report suggest:
- The other methods of validation services include cleaning validation services, analytical standard characterization, and peak identification. These services are anticipated to witness growth over the forecast period.
- Clinical bioanalytical testing market is likely to witness growth rate of over 8.0% during the forecast period owing to the increasing number of clinical trials coupled with a strengthened regulatory framework to perform drug discovery and development process at par with excellence.
- North America is expected to dominate the market at a global level owing to the better quality and propelling research activities being conducted within the region.
- Some of the key players in this market include SGS SA; Toxikon, Inc.; Eurofins Scientific; Pharmaceutical Product Development, LLC; Intertek Group plc; Pace Analytical Services, LLC; Exova Group plc; Boston Analytical; Charles River Laboratories International Inc.; and West Pharmaceutical Services, Inc. Regional & service portfolio expansions and merger & acquisitions are key strategic undertakings of these players.
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Grand View Research has segmented the global pharmaceutical analytical testing outsourcing market on the basis of services and region:
- Pharmaceutical Analytical Testing Outsourcing Services Outlook (Revenue, USD Million, 2014-2025)
- Bioanalytical Testing
- Non Clinical
- Method Development & Validation
- Extractable & Leachable
- Impurity Method
- Technical Consulting
- Stability Testing
- Drug Substance
- Stability Indicating Method Validation
- Accelerated Stability Testing
- Phostostability Testing
- Bioanalytical Testing
- Pharmaceutical Analytical Testing Outsourcing Services Regional Outlook (Revenue, USD Million, 2014-2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
- South Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.