San Francisco, 11 Dec 2020: The Report U.S. Pharmaceutical Analytical Testing Outsourcing Market Size, Share & Trends Analysis Report By Service (Bioanalytical Testing, Method Development & Validation), By End-use, And Segment Forecasts, 2020 – 2027
The U.S. pharmaceutical analytical testing outsourcing market size is expected to reach USD 5.55 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.3% from 2020 to 2027. The market is mainly driven by an increasing number of clinical trial registrations, innovations in the medical industry, and the entry of new players in the market. Moreover, increasing R&D investment, growing demand for biopharmaceutical products, and rising focus on regulation, safety, and quality are some of the major factors responsible for the growth of the market. The pharmaceutical analytical testing involves outsourcing of various types of evaluation such as-
- Analytical Method Development Services
- Analytical Method Validation Services
- Bioanalytical Services / Bioanalytical Testing Services (Bioanalytical CRO)
- Pharmaceutical Biomarker Testing Services / Biomarker Services
- Preclinical Toxicology Testing Services (in vitro)
- Pharmaceutical Contract Bioavailability Testing Services
- Others
The increasing development of the pharmaceutical analytical testing services market has fascinated many new players in the industry, leading to growing competition for well established, standalone service providers. The rapid increase in the manufacturing of medications to meet the rising demand for efficient healthcare in the U.S. is projected to be one of the major factors driving the demand for pharmaceutical analytical testing outsourcing services. For example, the increasing prevalence of preventable illness and the suboptimal use of healthcare resources have led to rising demand for efficient healthcare in the U.S.
The bioanalytical testing service segment is anticipated to witness the fastest growth over the forecast period. Additionally, ancillary services such as storage, registration and testing, process and cleaning validations, and facility validation are widely being outsourced, which, in turn, is expected to help boost the market growth. Therefore, the outsourcing of analytical testing services provides quality results and is also a cost-effective solution.
Access Research Report of U.S. Pharmaceutical Analytical Testing Outsourcing Market @ https://www.grandviewresearch.com/industry-analysis/us-pharmaceutical-analytical-testing-outsourcing-market
U.S. Pharmaceutical Analytical Testing Outsourcing Market Report Highlights
- By service, the bioanalytical testing segment held the second-largest share in 2019 due to increasing preference for outsourcing analytical testing
- By end-use, pharmaceutical companies accounted for the largest share of 47.6% in 2019 owing to innovative approaches to moderate the complexity of tests
- Growing demand for biopharmaceuticals, analytical drugs, and biosimilarsis anticipated to be one of the key factors enhancing the market growth
- An increasing number of clinical trial registrations and entry of new participants in the market over the past decade are the key factors likely to propel the biopharmaceutical companies end-use segment over the forecast period
List of Key Players of U.S. Pharmaceutical Analytical Testing Outsourcing Market
- West Pharmaceutical Services, Inc.
- SGS SA
- Eurofins Scientific
- Pace Analytical Services LLC
- Intertek Group Plc
- PPD, LLC
- Wuxi AppTec, Inc.
- Boston Analytical
- Charles River Laboratories International, Inc.
Access Press Release of U.S. Pharmaceutical Analytical Testing Outsourcing Market @ https://www.grandviewresearch.com/press-release/us-pharmaceutical-analytical-testing-outsourcing-market-analysis
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