Pharmaceutical Analytical Testing Outsourcing Market Will Rise As Of Changing Regulations For In Vivo And In Vitro Tests Till 2028

 

Pharmaceutical Analytical Testing Outsourcing Industry Overview

 

The global pharmaceutical analytical testing outsourcing market size was valued at USD 6.54 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% over the forecast period.

 

Innovation in the pharmaceutical industry, increasing focus on regulation, safety & quality, rising number of end-users, and pricing benefits of outsourcing are the key factors driving the market. Increasing R&D budgets and investments in drug discovery are among the critical sustainability strategies for pharmaceutical companies. Not all companies have an infrastructure that is conducive to all types of analytical testing. Hence, outsourcing these operations is the most suitable option, which also helps save time and cost.

 

Gather more insights about the market drivers, restrains and growth of the Global Pharmaceutical Analytical Testing Outsourcing Market

 

Other factors, such as the increasing need for product safety & quality, along with changing regulations for in vivo and in vitro tests are also expected to propel the growth of the market. For instance, the government of China issued a notification to upgrade the quality of generic drugs, remove the backlog of drug applications, improve the quality and transparency of the review and approval process, and encourage new drug R&D in line with global development.

 

The economic benefits associated with outsourcing these services and approvals in the pharmaceutical industry are projected to support market growth. Quicker and reliable results, data safety, and improved efficiency are some key factors favoring market growth. Innovation or new product development is directly proportional to the demand for testing services. Due to competitive pressures, pricing concerns, and lead-time to market, companies are opting to outsource testing services. According to the Pharma Intelligence Report 2019, the total development pipeline increased to 16,181 molecules in 2019 from 15,267 molecules in 2018.

 

Increasing focus on customized care and technological advancements are shortening the product lifecycle, which has resulted in the rapid development of new products. The development of combination products, biosimilars, and other innovative medicines has led to an increase in demand for specific types of tests. Outsourcing services are becoming the most preferable option for many pharma companies to increase operational efficiency, therapeutic expertise, and on-demand services along with the expansion of geographical presence.

 

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

 

• Active Pharmaceutical Ingredients Market - The global active pharmaceutical ingredients market size was valued at USD 187.76 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028. The growth can be attributed to the advancements in active pharmaceutical ingredient (API) manufacturing and the rising prevalence of chronic diseases, such as cardiovascular diseases and cancer. Favorable government policies for API production, along with changes in geopolitical situations, are boosting the market growth. 
• Pharmaceutical Cleaning Validation Market - The global pharmaceutical cleaning validation market size was valued at USD 14.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. The rapid growth of pharma manufacturing facilities, the rising prevalence of diseases, the growing global geriatric population, increased healthcare expenditure, and rising investments in the market to comply with regulatory standards set by international governing bodies like U.S. FDA and the EMA. 

 

Pharmaceutical Analytical Testing Outsourcing Market Segmentation

 

Grand View Research has segmented the global pharmaceutical analytical testing outsourcing market report on the basis of service and region:

 

Pharmaceutical Analytical Testing Outsourcing Service Outlook (Revenue, USD Million, 2016 - 2028)

• Bioanalytical
  • Clinical
  • Non-clinical
• Method Development & Validation
  • Extractable & Leachable
  • Impurity Method
  • Technical Consulting
  • Others
• Stability Testing
  • Drug Substance
  • Stability Indicating Method Validation
  • Accelerated Stability Testing
  • Photostability Testing
  • Others
• Others

 

Pharmaceutical Analytical Testing Outsourcing Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Market Share Insights

• August 2019: Thereby expanding its reach of services. Charles River Laboratories was not as affected by the pandemic as other clinical CRO firms, as nearly all its sites were active during the pandemic.
• May 2019: Intertek Group Plc announced the expansion of its pharmaceutical services laboratory in Milbourn, which is likely to open at the end of 2019. 
• December 2018: SGS SA invested USD 3.84 million to undertake a two-phase expansion project at its laboratory in Poitiers, France, to implement a 50% increase in bioanalytical capabilities at the site by 2020.

 

Key Companies profiled:

 

Some prominent players in the global pharmaceutical analytical testing outsourcing market include:

• SGS SA
• Toxikon, Inc.
• Eurofins Scientific
• Pace Analytical Services, Inc.
• Intertek Group Plc
• Pharmaceutical Product Development, LLC.
• WuXi AppTec, Inc.
• Boston Analytical
• Charles River Laboratories International, Inc.
• West Pharmaceutical Services Inc.

 

Order a free sample PDF of the Pharmaceutical Analytical Testing Outsourcing Market  Intelligence Study, published by Grand View Research.