CHICAGO, April 24, 2020 /PRNewswire/ -- According to the new market research report "Healthcare Analytical Testing Services Market by Type (Method Development & Validation, Cell-Based Assays, Stability Testing, Heavy Metal Testing, Image Analysis, Virology Testing) & End user (Pharmaceuticals, Medical Devices) - Global Forecast to 2025", published by MarketsandMarkets™, the global Healthcare Analytical Testing Services Market size is projected to reach USD 8.4 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 11.4% during the forecast period.
Request for PDF Brochure:
Factors such as the increased outsourcing of analytical testing services by pharmaceutical companies, rising focus on specialized testing services for biologics and biosimilars, and the growing number of clinical trials are expected to drive the growth of the healthcare analytical testing services market.
By type, the bioanalytical testing services segment is expected to dominate the healthcare analytical testing services market in 2020
Based on type, the healthcare analytical testing services market has been segmented into bioanalytical testing services, physical characterization services, method development & validation services, raw material testing services, batch-release testing services, stability testing services, microbial testing services, and environmental monitoring services. Within bioanalytical testing services, cell-based assays accounted for the largest share in 2020. The large share of this segment can be attributed to their utility in checking the strength and stability of the therapeutic product through all the phases of the clinical study.
Browse in-depth TOC on "Healthcare Analytical Testing Services Market"
291 – Tables
40 – Figures
327 – Pages
By end user, medical device companies are expected to grow at the highest CAGR in the healthcare analytical testing services market in the forecast period
Based on end user, the healthcare analytical testing services market has been segmented into pharmaceutical & biopharmaceutical companies, medical device companies, and CROs. The medical device companies market is estimated to show the highest CAGR in the forecast period, as analytical testing companies are seeing more requests from OEMs for material characterization testing for medical devices and materials. Moreover, demand has grown for the continuous development of expertise in chemical evaluations from these companies.
Get 10% Customization on this Research Report:
North America holds the largest share in the market in 2020, followed by Europe
North America dominates the overall market based on region. This can be attributed to the large number of major pharmaceutical R&D companies and medical device companies headquartered in this region, the rising number of clinical trials being conducted here, and the strong presence of CROs.
The prominent players in the healthcare analytical testing services market include Eurofins Scientific (Luxembourg), LabCorp (US), SGS (Switzerland), Charles River Laboratories (US), WuXi PharmaTech (China), PPD (US), Element Materials Technology (UK), Pace Analytical (US), Intertek (UK), Merck KGAA (Germany), Source BioScience (UK), Almac Group (Ireland), ICON (Ireland), Frontage Labs (US), STERIS PLC (US), PRA Health Sciences (US), Syneos Health (US), Medpace Holdings (US), LGC Limited (UK), and Anacura (Belgium).
Browse Adjacent Markets: Analytical and Scientific Instrumentation Market Research Reports & Consulting
Get Special Pricing on Bundle Reports:
Browse Related Reports:
Drug Discovery Services Market by Process (Target Selection, Validation, Lead Optimization), Type (Medicinal Chemistry, DMPK), Drug Type (Biologics, Small Molecules), Therapeutic (Oncology, Neurology), Company (Tier 1, 2, 3) - Global Forecast to 2025
Contract Research Organization Services (CROs) Market by Type (Discovery, CMC, Preclinical, Clinical Research, Laboratory Services), Therapeutic Area (Oncology, CNS, Cardiovascular), End User (Pharmaceuticals & Medical Device) - Global Forecast to 2023
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/healthcare-analytical-testing-services-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/healthcare-analytical-testing-services.asp