Zion Market Research has published a new report titled “Pharmaceutical Analytical Testing Outsourcing Market by Product (Raw Materials, Active Pharmaceutical Ingredients and Finished Products); by Services (Method Development & Validation, Stability Testing, Bioanalytical Testing and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for pharmaceutical analytical testing outsourcing market was valued at approximately USD 5.46 billion in 2018, and is expected to generate revenue of around USD 9.71 billion by end of 2025, growing at a CAGR of around 8.6% between 2019 and 2025.
Get Access to the FREE sample report @ https://www.zionmarketresearch.com/sample/pharmaceutical-analytical-testing-outsourcing-market
Analytical testing is a crucial step in the pharmaceutical and biopharmaceutical quality management system. Analytical testing is important process and integral part of drug manufacturing process. Identification, purification of impurities and compounds, active pharmaceutical ingredients characterization, analytical method development and validation, stability testing etc. are some of major analytical tests used during drug manufacturing. Analytical testing outsourcing of biopharmaceutical and pharmaceutical product is widely preferred across the industry owing to various factors such as growing need to speed up the overall product development and commercialization process along with increasing number of pipeline products, need to reduce overall cost and faster regulatory approvals.
Pharmaceutical analytical testing outsourcing market is majorly driven by increasing focus on biopharmaceutical and biosimilar testing, growth in new biopharmaceutical development, and increasing adoption of outsourcing activities. Other factors such as increasing investments, growing demand for biosimilar and other new pharmaceutical therapeutics, increasing registrations for clinical trials, entry of new contract organizations has widely influenced the growth of the pharmaceutical analytical testing outsourcing market. However, regulatory audits and quality approvals may hamper the growth of this market.
The study provides a crucial view on the pharmaceutical analytical testing outsourcing by segmenting the market based on product type, solution type, end user and region. Based on product market is segmented into raw materials, active pharmaceutical ingredients and finished products. Active pharmaceutical ingredient product segment is expected to grow at highest CAGR over the forecast period. This growth is attributed to increasing demand for biosimilars, monoclonal antibodies, generic drugs etc. for treating various chronic disorders.
Based on services, global pharmaceutical analytical testing outsourcing market is bifurcated into method development & validation, bioanalytical testing, stability testing and others. bioanalytical testing segment is further sub categorized into non clinical and clinical. Stability testing segment is further split into stability indicating method validation, drug substance, photostability testing, accelerated stability testing and others. Method development & validation segment is further split into impurity method, technical consulting, extractable & leachable and others. Bioanalytical testing segment accounted for largest market share in 2018 and clinical bioanalytical testing segment is expected to grow at a highest CAGR over the forecast period. The stability testing segment is projected to witness highest growth rate over the forecast period.
At regional level, North America held largest revenue share in 2018 for the global pharmaceutical analytical testing outsourcing market. Increasing investments for biosimilars, new chemical entities (NCEs), monoclonal antibodies, and therapeutic peptides research and development, strong presence of major biopharmaceutical manufacturers, and favorable government support attribute to the leading market share in North America. Europe was second leading regional market in 2018 due to growing investments by major players, availability of ample funds for R&D, presence of developed infrastructure for R&D etc. Fastest growth is projected in Asia Pacific region over the forecast period. This fast growth is attributed to developed pharmaceutical generics market in China and India and presence of major contract research organizations. Latin America and Middle East and Africa regions will register noticeable growth over the forecast period.
Major players included in the report are SGS SA, Intertek Group PLC, Exova Group PLC, Toxikon, Inc., Pharmaceutical Product Development, LLC, Charles River Laboratories International, Inc., Eurofins Scientific, West Pharmaceutical Services, Inc., Pace Analytical Services, LLC, and Boston Analytical, Inc.
The report segment of global pharmaceutical analytical testing outsourcing market as follows:
Global Pharmaceutical Analytical Testing Outsourcing Market: By Product Type
Global Pharmaceutical Analytical Testing Outsourcing Market: By Services
Global Pharmaceutical Analytical Testing Outsourcing Market: By Region
To view TOC of this report is available upon request @ https://www.zionmarketresearch.com/toc/pharmaceutical-analytical-testing-outsourcing-market