The pharmaceutical analytical testing outsourcing market share growth by the bioanalytical segment will be significant for revenue generation. The bioanalytical testing outsourcing segment is driven by growth in the pharmaceutical and biotechnology sectors. The companies working in these sectors are the primary consumers of analytical testing services, and they produce products that comply with regulatory parameters such as quality, purity, and safety of products.
The potential growth difference for the pharmaceutical analytical testing outsourcing market between 2021 and 2026 is USD 3.21 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver - The increased number of FDA-approved manufacturing facilities in developing nations will fuel the growth of the pharmaceutical analytical testing outsourcing market size. While selecting a partner for outsourcing drug discovery, pharmaceutical companies want manufacturing plants that are approved by the US FDA, have a skilled workforce and have low operating costs. Meeting these criteria has resulted in investments in these nations for pharmaceutical analytical testing outsourcing. The FDA approval for these premises is a boon for the global pharmaceutical analytical testing outsourcing market as manufacturers in developing nations can maximize production at lower costs for pharmaceutical companies.
- Market Challenges - The shortage of trained professionals may hamper the pharmaceutical analytical testing outsourcing market growth during the forecast period. There is an immense shortage of trained laboratory professionals across the globe. There is also a reduction in proper training programs for laboratory professionals as the laboratories are under pressure to deliver faster turnaround times. As a result, less attention is given to these programs that train laboratory executives to become highly skilled professionals. The lack of recognition and proper knowledge on the profession's importance also contributes to the dwindling population of laboratory professionals.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
The pharmaceutical analytical testing outsourcing market report is segmented by Service (bioanalytical, method development and validation, stability testing, and others) and Geography (North America, Europe, APAC, South America, and MEA). North America will be the leading region with 46% of the market's growth during the forecast period.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
The pharmaceutical analytical testing outsourcing market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
- Boston Analytical
- Charles River Laboratories International Inc.
- Element Materials Technology Group Ltd.
- Eurofins Scientific SE
- Intertek Group Plc
- Laboratory Corp. of America Holdings
- Pace Analytical Services LLC
- PPD Inc.
- SGS SA
- WuXi AppTec Co. Ltd.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
Microbial Testing Market -The microbial testing market has the potential to grow by USD 2.21 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 7.75%. Download a free sample now!
Mycoplasma Testing Market -The mycoplasma testing market has the potential to grow by USD 496.87 mn during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 11%. Download a free sample now!
Pharmaceutical Analytical Testing Outsourcing Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.15% |
Market growth 2022-2026 |
USD 3.21 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.47 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 46% |
Key consumer countries |
US, Germany, China, UK, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Boston Analytical, Charles River Laboratories International Inc., Element Materials Technology Group Ltd., Eurofins Scientific SE, Intertek Group Plc, Laboratory Corp. of America Holdings, Pace Analytical Services LLC, PPD Inc., SGS SA, and WuXi AppTec Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article