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Overview and Scope
Healthcare analytical testing service refers to the process of validation of procedures used in drug discovery and development, finished products, and the detection of microorganisms in biological drugs, suspensions, and emulsions.
Sizing and Forecast
The healthcare analytical testing services market size has grown rapidly in recent years. It will grow from <b>$5.72 billion in 2023 to $6.59 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. </b> 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 <b>$11.29 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. </b> 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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Segmentation & Regional Insights
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
<b>North America</b> was the largest region in the healthcare analytical testing services market in 2023. <b>Asia-Pacific</b> 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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the healthcare analytical testing services market include <b> 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. </b>
The healthcare analytical testing services market report table of contents includes:
1. Executive Summary
2. Healthcare Analytical Testing Services Market Characteristics
3. Healthcare Analytical Testing Services Market Trends And Strategies
4. Healthcare Analytical Testing Services Market – Macro Economic Scenario
5. Global Healthcare Analytical Testing Services Market Size and Growth
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26. South America Healthcare Analytical Testing Services Market
27. Brazil Healthcare Analytical Testing Services Market
28. Middle East Healthcare Analytical Testing Services Market
29. Africa Healthcare Analytical Testing Services Market
30. Healthcare Analytical Testing Services Market Competitive Landscape And Company Profiles
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