U.S. Pharmaceutical Analytical Testing Outsourcing Market Report 2022: Rising R&D Investments & Drug Demand Spurring Growth – ResearchAndMarkets.com

Press release content from Business Wire. The AP news staff was not involved in its creation.

DUBLIN–(BUSINESS WIRE)–Aug 29, 2022–

The “U.S. Pharmaceutical Analytical Testing Outsourcing Market Size, Share & Trends Analysis Report by Service (Bioanalytical Testing, Method Development & Validation, Stability Testing), by End-use, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.

The U.S. pharmaceutical analytical testing outsourcing market size is expected to reach USD 6.8 billion by 2030. The market is anticipated to expand at a CAGR of 8.0% from 2022 to 2030. Technological advancements in the healthcare industry and an increase in end-users are the key factors driving the growth of the U.S. market.

Analytical testing services outsourcing allows companies to handle more complex or repetitive tasks while also assisting companies in concentrating on their core competencies, enabling medical organizations to avoid developing specialized facilities and hiring staff, results in cost savings. The identification and measurement of ingredients in drugs or therapeutic solutions are included in pharmaceutical analytical testing. The market is anticipated to expand during the assessment period as a result of rising R&D investments and rising drug demand.

ADVERTISEMENT

The outsourcing of pharmaceutical analytical testing has been significantly impacted by the COVID-19 pandemic. Due to various pharmaceutical companies’ internal lab testing capacities being reduced or shut down, the pharmaceutical analytical services-an important component of the healthcare infrastructure-were initially disrupted. The workers initially faced a number of difficulties, including reduced lab capacity because of concerns about spreading the virus, IT issues, and difficulties sending samples for testing. However, various strategies, including rotating shifts, reducing manpower, and working from home, have been adopted by companies to mitigate or prevent these difficulties.

Various companies supported the government’s efforts to stop the COVID-19 pandemic by producing various cutting-edge tests and solutions. These businesses were able to reduce the effects of COVID-19 on their operations. For example, 40 million COVID-19 tests were successfully manufactured by Eurofins laboratories. Additionally, new test kits are being created for various variants. When WHO classified it as a variant of concern, they released an omicron test kit the same day.

ADVERTISEMENT

Market Dynamics

Market Drivers

  • Increasing Innovation in Testing Services
  • Regulation Safety & Quality
  • Pricing

Market Restraints

  • Data Insecurity
  • Third-Party Performance

U.S. Pharmaceutical Analytical Testing Outsourcing Market Report Highlights

  • Bioanalytical testing segment dominated the market with a revenue share of 31.4% in 2021 due to players in the biopharmaceutical industry spending money on R&D and a growing preference for outsourcing analytical testing
  • By method development and validation segment, the extractable and leachable services held 32.1% segment share in 2021
  • Pharmaceutical companies segment accounted for the largest share of 47.4% in 2021. Changing regulations for in vitro and in vivo tests, sophisticated technologies, and creative methods to reduce test complexity are some of the factors that are causing more pharmaceutical analytical testing services to be outsourced
  • West Pharmaceutical Services, Inc., SGS SA, Eurofins Scientific, Pace Analytical Services Llc, and Intertek Group Plc are some of the major key players contributing to the growth of the market
  • Based on end-user, biopharmaceutical companies are anticipated to register the fastest growth over the forecast period due to an increase in the number of clinical trial registrations and market entrants

ADVERTISEMENT

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. U.S. Pharmaceutical Analytical Testing Outsourcing Market Variables, Trends & Scope

Chapter 4. U.S. Pharmaceutical Analytical Testing Outsourcing Market: Services Segment Analysis

Chapter 5. U.S. Pharmaceutical Analytical Testing Outsourcing Market: End-use Segment Analysis

ADVERTISEMENT

Chapter 6. Competitive Landscape

Companies Mentioned

  • West Pharmaceutical Services, Inc.
  • SGS Sa
  • Eurofins Scientific
  • Pace Analytical Services Llc
  • Intertek Group Plc
  • Pharmaceutical Product Development, LLC.
  • Wuxi Apptec, Inc.
  • Boston Analytical
  • Charles River Laboratories International, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/4vb37z

View source version on businesswire.com:https://www.businesswire.com/news/home/20220829005392/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: INFECTIOUS DISEASES BIOTECHNOLOGY PHARMACEUTICAL HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2022.

PUB: 08/29/2022 07:35 AM/DISC: 08/29/2022 07:36 AM

http://www.businesswire.com/news/home/20220829005392/en

Leave a Reply

Your email address will not be published.