Pharmaceutical Analytical Testing Outsourcing Industry Growth, Trends And Forecast Till 2023 By Marketresearchfuture.Com

Market scenario

Increasing research and development investments is the key factor driving the pharmaceutical analytical testing outsourcing market. For instance, in 2018, Almac Group announced that it will invest USD 493,000 in additional nuclear magnetic resonance instrumentation at its headquarters in Craigavon, UK.

The Global Pharmaceutical Analytical Testing Outsourcing Market is slated to expand at a considerable rate and at a healthy 7.45% CAGR over the predicted years (2018-2023). Analytical testing plays a key role in the field of pharmaceutical development right from the initial stages of commercialization of the therapy or drug. It is a vital phase in drug manufacturing that includes identification, determination as well as purification of a single compound and/or mixture of compounds. This process also includes determining the chemical compounds’ structure along with helping in the characterization and synthesis of active pharmaceutical ingredients (APIs).

Various other factors such as intense competition among pharmaceutical companies, increasing awareness about product quality, and safety and changing regulations for in vivo and in vitro tests are also expected to propel the growth of the market.

However, lack of awareness, and quality approvals and regulatory audits conducted in outsourcing laboratories can hinder the market growth over the forecast period.

Key players

Some of the key players in the global Pharmaceutical Analytical Testing Outsourcing market are SGS SA, Toxikon, Inc, Eurofins Scientific, Pace Analytical Services LLC, Intertek Group plc, Pharmaceutical Product Development, LLC, Exova Group plc, Boston Analytical, Charles River Laboratories International, Inc, West Pharmaceutical Services, Merck KGaA, WuXi AppTec, Source BioScience and others.

Segmentation

The Global market for pharmaceutical analytical testing outsourcing, by product type is segmented into raw materials, finished products and active pharmaceutical ingredients.

The market, by services, is segmented into bioanalytical testing, method development & validation, stability testing, and others. The bioanalytical testing segment is further classified as clinical and non-clinical. The method development & validation segment is further classified as extractable & leachable, impurity method, technical consulting and others. The stability testing is further classified as drug substance, stability indicating method validation, accelerated stability testing, photostability testing and others.

Based on end user, the market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations and others.

Regional Market Summary

The Americas dominated the global market for pharmaceutical analytical testing outsourcing. This can be attributed to the presence of major market players and increasing awareness about product quality, and safety within the region.

Europe stood second in 2017 owing to the increasing participation of market players and presence of developed economies like UK, Germany, France, and others within the region provides a driving force for the market to grow. In 2017, Eurofins Scientific acquired EAG Laboratories to enter into the dynamic and growing Materials and Engineering Sciences markets.

Asia Pacific was projected to be the fastest growing region in 2017. Factors such as growing research and development investment, increasing penetration of the market players within the region, and increasing government’s support for foreign investments drives the regional markets of the Asia Pacific region.

On the other hand, the Middle East and Africa held least share in the global pharmaceutical analytical testing outsourcing market due to the presence of poor economies and low per capita income, especially within the African region. The Middle Eastern region is estimated to be a major market for the Middle East and African region.

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