Healthcare Analytical Testing Services Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030
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 2030
Product Overview
Healthcare analytical testing services are widely used by pharmaceutical, biopharmaceutical, and medical device manufacturers that support throughout the stages of their drug development. These services provide support in the process of drug development started from discovery through clinical development or clinical trials to commercial use.
Market Overview
The global healthcare analytical testing services market size is projected to reach USD 11.2 billion by 2030 from USD 5.1 billion in 2020, at a CAGR of 12.4%. In the current global scenario-where the focus on biologics and biosimilars has risen-it is expected that the benefits of advanced healthcare analytical testing services will ensure their greater adoption. The increasing demand for specialized testing services, the number of clinical trials, and the acceptance of the QbD approach in pharmaceutical research and manufacturing are other factors driving the growth of this market.
The batch-release testing segment is projected to grow at the highest CAGR during the forecast period
Within the type segment, the market is 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. The batch-release testing segment is projected to grow at the highest CAGR during the forecast period. Within the batch-release testing services segment, the dissolution testing services market is projected to grow at the highest growth rate during the forecast period.
Pharmaceutical & biopharmaceutical companies hold the largest share in the market
Market Dynamics
The growing outsourcing of analytical testing by pharmaceutical companies, focus on analytical testing of biologics and biosimilars, increasing acceptance of the quality-by-design approach in pharma research and manufacturing are some of the factors behind the growth of the healthcare analytical testing services market in the forecast period of 2020 to 2027. On the other hand, the increasing demand for specialized analytical testing services will create several opportunities that will lead to the growth of the healthcare analytical testing services market in the above mentioned period.
Dearth of skilled professionals will act as a restraint to the growth of the healthcare analytical testing services market in the above mentioned period. But, the necessity to improve the sensitivity of bioanalytical methods will act as a challenge to the healthcare analytical testing services market growth.
North America holds the largest share in the healthcare analytical testing services market, by region
North America held the largest share in the healthcare analytical testing services market in 2019. This dominance of North America in this market is due to the presence of many pharmaceutical and biopharmaceutical companies, high investments and rising focus on the biosimilars & biologics segment, and high allocation to R&D. The Asia Pacific market is expected to register the highest growth during the forecast period, primarily due to the lower production costs and growing favorability of the regulatory environment.
Key market players
The prominent players in the global healthcare analytical testing services market are 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).
By Type
• Bioanalytical Testing Services
o Cell-based Assays
o Virology Testing
o Immunogenicity & Neutralizing Antibody Testing
o Biomarker Testing
o Pharmacokinetic Testing
o Other Bioanalytical Testing Services
• Physical Characterization Services
o Laser Particle Size Analysis
o Thermal Analysis
o Image Analysis
o Surface Area Analysis
o Other Physical Characterization Services
• Method Development & Validation Services
o Extractable & Leachable Method Development & Validation;
o Process Impurity Method Development & Validation;
o Stability-indicating Method Validation
o Cleaning Validation
o Analytical Standard Characterization
o Technical Consulting
o Other Method Development & Validation Services
• Raw Material Testing Services
o Complete Compendial Testing
o Heavy Metal Testing
o Container Testing
o Karl Fischer Analysis
o Wet Chemistry Analysis
o Other Raw Material Testing Services
• Batch-release Testing Services
o Dissolution Testing
o Elemental Impurity Testing
o Disintegration Testing
o Hardness Testing
o Friability Testing
o Other Batch-release Testing Services
• Stability Testing
o Drug Substance Stability Testing
o Formulation Evaluation Stability Testing
o Accelerated Stability Testing
o Photostability Testing
o Comparative Stability Testing
o Other Stability Testing Services
• Microbial Testing Services
o Microbial Limit Testing
o Sterility Testing
o Endotoxin Testing
o Preservative Efficacy Testing
o Water Testing
o Other Microbial Testing Services
• Environmental Monitoring Services
o Air Testing
o Wastewater/ETP Testing
o Other Environmental Monitoring Services
By End User
• Pharmaceutical & Biopharmaceutical Companies
• Medical Device Companies
• Contract Research Organizations
Contents
1. Executive Summary
2. Global Healthcare Analytical Testing Services Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Global Healthcare Analytical Testing Services Market Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Global Healthcare Analytical Testing Services Market
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Global Healthcare Analytical Testing Services Market: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Type: Market Share (2020-2030F)
12.2.1. Bioanalytical Testing Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Physical Characterization Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Method Development & Validation Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.4. Raw Material Testing Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.5. Batch-release Testing Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.6. Stability Testing, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.7. Microbial Testing Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.8. Environmental Monitoring Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By End User: Market Share (2020-2030F)
12.3.1. Pharmaceutical & Biopharmaceutical Companies, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Medical Device Companies, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Contract Research Organizations, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13 Company Profile
13.1. Eurofins Scientific (Luxembourg)
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. LabCorp (US)
13.3. SGS (Switzerland)
13.4. Charles River Laboratories (US)
13.5. WuXi PharmaTech (China)
13.6. PPD (US)
13.7. Element Materials Technology (UK)
13.8. Pace Analytical (US)
13.9. Intertek (UK)
13.10. Merck KGAA (Germany)
13.11. Source BioScience (UK)
13.12. Almac Group (Ireland)
13.13. Other Prominent Players
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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