The global Pharmaceutical Analytical Testing Outsourcing market size is expected to be worth around US$ 12.9billion by 2028, according to a new report by Vision Research Reports.
The global Pharmaceutical Analytical Testing Outsourcing market size was valued at US$ 6.60 billion in 2020 and is anticipated to grow at a CAGR of 8.6% during forecast period 2021 to 2028.
Increasing pipelines for biological candidates along with rising demand for additional analytical details on drugs as well as process development by regulatory agencies are boosting the market growth. Analytical testing helps in providing real-time product quality control along with optimizing & monitoring processes, characterize biosimilar & biologics, and improving productivity. One of the main reasons for outsourcing analytical testing services is to access skilled & experienced expertise, as well as expensive analytical equipment not available in-house.
Increasing R&D investments is one of the critical sustainability strategies. Not all companies have an infrastructure that is compatible with all types of analytical testing. Hence, outsourcing these operations is the most suitable option, which also helps save time and cost. A patent cliff largely for small molecules with the pharmaceutical industry has led to a huge dent in the pharma’s profits. In the coming years, several best-selling drugs are coming towards the end of patent life including Humira. Drug innovators are under constant pressure to launch new products. Developing advanced analytical testing to assess & monitor the quality attributes of these requires a broader set of equipment & expertise, which is beyond the internal capacity of pharma companies.
The other service segment generated the maximum revenue in 2020 and accounted for over 39% of the overall share. The segment includes environmental monitoring, raw material testing, batch release, microbial testing, and physical characterization of the materials. Changing regulations for in vivo & in vitro tests and innovative approaches to reduce the complexity of the tests are contributing to the segment growth.
The bioanalytical testing services segment is expected to witness the fastest growth over the forecast period. The entry of new participants in the market and an increasing number of clinical trial registrations have contributed to the segment growth.
A lot of small-scale industries are not equipped with top-end analytical tools and opt for outsourcing of these studies to industry experts having years of experience in performing, documenting, and adapting to the challenges presented during analysis. This is also anticipated to drive segment growth.
North America accounted for the largest revenue share of over 53% in 2020 and will retain its dominant position throughout the forecast years. This is due to the fact that it is one of the top manufacturing hubs of complex, highly reliable, & high-end pharmaceuticals. The rise in the manufacturing of pharmaceuticals to meet the increasing demand for efficient healthcare in the region is also projected to be one of the major factors propelling the market growth.
Asia Pacific is expected to be the fastest-growing regional market from 2021 to 2028 as a lot of developed countries are investing in countries in this region. Outsourcing services in APAC are usually supported by delivery centers in the Philippines, China, and India. China is gaining popularity as a delivery location for nearshore and onshore clients based out of Japan.
Pace Analytical Services, Inc.
Intertek Group Plc
Pharmaceutical Product Development, LLC.
WuXi AppTec, Inc.
Charles River Laboratories International, Inc.
West Pharmaceutical Services Inc.
Method Development & Validation
Extractable & Leachable
Stability Indicating Method Validation
Accelerated Stability Testing
Middle East & Africa
The Pharmaceutical Analytical Testing Outsourcing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Pharmaceutical Analytical Testing Outsourcing market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Pharmaceutical Analytical Testing Outsourcing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Pharmaceutical Analytical Testing Outsourcing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Pharmaceutical Analytical Testing Outsourcing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Pharmaceutical Analytical Testing Outsourcing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Pharmaceutical Analytical Testing Outsourcing by regions (countries) and application.
In this study, the years considered to estimate the market size of Pharmaceutical Analytical Testing Outsourcing are as follows:
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
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.
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