The healthcare analytical testing services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Healthcare Analytical Testing Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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%. The growth in the forecast period can be attributed to telemedicine and remote monitoring, drug safety and pharmacovigilance, biopharmaceuticals and biosimilars, emerging markets, regulatory stringency. Major trends in the forecast period include advanced analytical techniques, data security and privacy, personalized medicine testing, ai and machine learning applications, environmental and contaminant testing.
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Scope Of Healthcare Analytical Testing Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Healthcare Analytical Testing Services Market Overview
Market Drivers –
The increase in cases of chronic diseases is expected to drive the healthcare analytical testing services market going forward. Chronic diseases refer to diseases that persist in humans for more than three months, and these diseases include arthritis, asthma, cancer, diabetes, and so on. Healthcare analytical testing services are essential for the diagnosis and early treatment of millions of patients suffering from chronic diseases. For instance, according to Firstpost, an India-based online news and media website, diabetes cases in India are expected to double to 134 million by 2025. Therefore, increasing cases of chronic diseases are driving the growth of the healthcare analytical testing service market.
Market Trends –
Technological advancement is the key trend gaining popularity in the healthcare analytical testing service market. Major market players are creating innovative technologies to sustain their position in the market. For instance, in April 2022, Charles River Laboratories International Inc., a US-based pharmaceutical company that provides clinical analytical and drug discovery services, and Valo Health Inc., a US-based company operating in the drug discovery process, launched the Logica analytical platform. This integrated AI-powered drug testing platform helps to design drug molecules, synthesis capabilities, and DNA-encoded libraries and directly translates biological testing outputs into optimized preclinical results to enhance drug discovery and biological testing.
The healthcare analytical testing services market covered in this report is segmented –
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
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Regional Insights –
North America was the largest region in the healthcare analytical testing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare analytical testing services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the healthcare analytical testing services market include Almac Group, ALS Limited, Anacura Life Sciences, Charles River Laboratories International Inc., Danaher Corporation, Element Materials Technology Group, Eurofins Scientific SE, ICON plc, Impact Analytical Testing Lab, Intertek Group plc, Merck KGaA, Pace Analytical Services LLC, PPD Inc., Sartorius AG, SourceBio International plc, Steris Corporation, Syneos Health Inc., Thermo Fisher Scientific Inc., WuXi AppTec, Analytical Bio-Chemistry (ABC) Laboratories, Avance Biosciences, Avista Pharma Solutions, Avomeen Analytical Services, BioPharma Services Inc., Boston Analytical, Exova, Laboratory Corporation, MedPharm Inc., Micro Quality Labs, Microbac Laboratories, Microbac Laboratories Inc., Nelson Laboratories LLC, Pacific Biolabs Inc., PPD Inc.
Table of Contents
1. Executive Summary
2. Healthcare Analytical Testing Services Market Report Structure
3. Healthcare Analytical Testing Services Market Trends And Strategies
4. Healthcare Analytical Testing Services Market – Macro Economic Scenario
5. Healthcare Analytical Testing Services Market Size And Growth
…..
27. Healthcare Analytical Testing Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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