A new research report titled; ‘Global Healthcare Analytical Testing Services Market Research Report’ has been added to the vast repository of research reports by MarketsandMarkets™ INC. The report presents the current landscape and the growth prospects of the Global Healthcare Analytical Testing Services Market during the forecast period, along with the market dynamics such as the growth drivers, restraints, challenges, threats, and the potential growth opportunities. In terms of revenue, the global Healthcare Analytical Testing Services market is projected to reach USD 9.8 billion by 2026 from USD 5.6 billion in 2021, at a CAGR of 11.9%.
The research report focuses on the leading competitors of the global Healthcare Analytical Testing Services market and provides information such as the company overview, product portfolio, key developments, price, cost, value, volume, revenue, capacity, production, and contact information. Upstream raw materials and equipment and downstream demand analysis have also been carried out in this report. The report also analyses the current development trends and patterns, as well as the distribution and marketing channel. In the last section of this report, the feasibility of the new investment projects is evaluated, and overall research conclusions are offered.
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Thorough analysis about the market status, industry competition pattern, benefits and shortcomings of the enterprise software, industry development trends during the forecast period, local and industrial layout characteristics, micro and macroeconomic policies, as well as the industrial policy, has also been mentioned in this market research report. With the arrivals of newer market products, M&A, and service extensions, the competitive landscape in the market will intensify further. Strategic alliances are being formed to manufacture and market products more vigorously and efficiently.
The global healthcare analytical testing services market is fairly fragmented. Prominent players in the healthcare analytical testing services market include Eurofins Scientific (Luxembourg), LabCorp (US), SGS (Switzerland), Charles River Laboratories (US), and WuXi AppTec (China). Companies in the healthcare analytical testing services market adopted strategies such as partnerships, agreements, acquisitions, service launches as well as expansions to enhance their presence in the healthcare analytical testing services market.
COVID-19 Impact on the Healthcare analytical testing services Market
To assess the impact of COVID-19 and provide market forecasts, scenario-based approaches are considered.
In the optimistic scenario, the COVID-19 pandemic would have a significant positive long-term impact on the healthcare analytical testing services market. Initially, because of lockdowns and quarantine measures, the growth of this market was hampered, especially due to delays in starting new clinical trials and suspended enrolment in most ongoing clinical studies by leading players in the pharmaceutical industry. However, the overwhelming global demand for COVID-19 testing, treatment, and vaccine development has driven the growth of the healthcare analytical testing services market due to the simultaneous increase in demand and requirement for bioanalytical testing, method development, and validation, as well as safety testing of potential treatments and vaccines.
There has also been a steady rise in investment in the pharmaceutical industry and many opportunities arising from new technologies and advances concerning the COVID-19 pandemic. The global health crisis triggered by the COVID-19 pandemic has made it imperative for the pharmaceutical industry to move rapidly alongside researchers, regulators, and CROs to develop diagnostics, treatment, and vaccines. Healthcare analytical testing services play an important role in this scenario to maintain quality, safety, and efficacy.
In a pessimistic scenario, it could be assumed that the COVID-19 pandemic has resulted only in a temporarily positive impact on the healthcare analytical testing services market. In this scenario, it may be assumed that there would be a significant reduction in new offerings and customer outsourcing trends in the post-pandemic period, which could affect the growth of the healthcare analytical testing service market in the coming years. Moreover, the efficacy of current vaccines against new variants of the coronavirus is unknown. This could indicate future lockdown and other virus containment measures that would negatively affect the healthcare analytical testing services market.
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In a realistic scenario, it could be assumed that the effect of COVID-19 on the healthcare analytical testing services market has been positive and possibly long-term. In this scenario, the markedly positive impact on the healthcare analytical testing services market due to COVID-19 related vaccine and drug development in 2020 and 2021 would subside slowly in the coming years. Thereafter, the market growth is likely to stabilize and grow steadily, similar to the pre-pandemic scenario.
The research report categorizes the market into the following segments and subsegments:
By Type
- Bioanalytical Testing Services
- Cell-Based Assay Services
- Virology Testing Services
- Immunogenicity & Neutralizing Antibody Testing Services
- Biomarker Testing Services
- Pharmacokinetic Testing Services
- Other Bioanalytical Testing Services
- Physical Characterization Services
- Laser Particle Size Analysis Services
- Thermal Analysis Services
- Image Analysis Services
- Surface Area Analysis Services
- Other Physical Characterization Services
- Method Development & Validation Testing Services
- Extractables & Leachables Method Development & Validation Services
- Process Impurity Method Development & Validation Services
- Stability-Indicating Method Validation Services
- Cleaning Validation Method Development Services
- Analytical Standard Characterization Services
- Technical Consulting Services
- Other Method Validation Services
- Raw Material Testing Services
- Complete Compendial Testing Services
- Heavy Metal Testing Services
- Container Testing Services
- Karl Fischer Analysis Services
- Wet Chemistry Analysis Services
- Other Raw Material Testing Services
- Batch-Release Testing Services
- Dissolution Testing Services
- Elemental Impurity Testing Services
- Disintegration Testing Services
- Hardness Testing Services
- Friability Testing Services
- Other Batch-Release Testing Services
- Stability Testing
- Drug Substance Stability Testing Services
- Formulation Evaluation Stability Testing Services
- Accelerated Stability Testing Services
- Photostability Testing Services
- Comparative Stability Testing Services
- Other Stability Testing Services
- Microbial Testing Services
- Microbial Limit Testing Services
- Sterility Testing Services
- Endotoxin Testing Services
- Preservative Efficacy Testing Services
- Water Testing Services
- Other Microbial Testing Services
- Environmental Monitoring Services
- Air Testing Services
- Wastewater/ETP Testing Services
- Other Environmental Monitoring Services
By End User
- Pharmaceutical & Biopharmaceutical Companies
- Medical Device Companies
- Clinical Research Organizations
Some of the key geographies mentioned in this report include:
- North America (U.S and Canada and rest of North America)
- Europe (Germany, France, Italy, and Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
- LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and Rest of LAMEA)
Healthcare Analytical Testing Services Key findings of the report:
- Industry overview of the global Healthcare Analytical Testing Services market
- Market dynamics, including the drivers, restraints, challenges, threats, and the potential growth opportunities
- Capacity, production, cost, price, value, volume, gross, profit, gross margin, and revenue analysis of Healthcare Analytical Testing Services market by geography, type, application, and industry verticals
- Consumption volume, consumption value, and sale price analysis of Healthcare Analytical Testing Services industry by geography, type, application, and industry verticals
- Supply, import, export, and consumption analysis of Healthcare Analytical Testing Services
- In-depth analysis of the key players operating in the market
- Strengths and weaknesses of the leading industry players
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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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