The latest research study ”Pharmaceutical Analytical Testing Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global pharmaceutical analytical testing outsourcing market size reached US$ 7.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.74% during 2023-2028.
Pharmaceutical analytical testing outsourcing refers to a testing activity used to minimize in-house production costs by outsourcing parts of the work to a third party. As an extension of contract research organizations, analytical testing outsourcing services have begun replacing a significant portion of in-house analytical development and testing. As part of the development process for drugs and therapies, pharmaceutical testing plays a vital role from the beginning via the commercialization of the product. It entails determining the structures of chemicals, purifying a mixture of substances, synthesizing and characterizing active medicinal ingredients (APIs), etc. Formulation development and early-phase manufacturing are usually involved in this initiative to speed up compound activities.
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Pharmaceutical Analytical Testing Outsourcing Market Trends and Drivers:
The rising demand for analytical information on the end-to-end process of drug development by various regulatory agencies is primarily augmenting the pharmaceutical analytical testing outsourcing market. Furthermore, the increasing popularity of analytical information on the end-to-end process of drug development by numerous regulatory agencies is positively influencing the global market. Apart from this, continuous technological advancements with an enhanced focus on shortening the product lifecycle are acting as significant growth-inducing factors. Moreover, the inflating need for goods safety and quality, changing regulations for in vivo and in vitro tests, and an increased emphasis on customized care are also bolstering the market growth. Besides this, the development of combination products, biosimilar, and other innovative medicines and extensive R&D activities by leading manufacturers are expected to fuel the pharmaceutical analytical testing outsourcing market in the coming years.
Pharmaceutical Analytical Testing Outsourcing Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Ajinomoto Bio-Pharma Services (Ajinomoto Co. Inc.), Alcami Corporation Inc., Boston Analytical Inc., Catalent Inc., Charles River Laboratories International Inc., Eurofins Scientific SE, Intertek Group plc, Laboratory Corporation of America Holdings, Pace Analytical Services LLC, SGS S.A., Thermo Fisher Scientific Inc., West Pharmaceutical Services Inc. and WuXi AppTec Inc.
The report has segmented the market on the basis of
Breakup by Type:
- Active Pharmaceutical Ingredients (API)
- Finished Products
Breakup by Service:
- Bioanalytical Testing
- Method Development and Validation
- Extractable and Leachable
- Impurity Method
- Technical Consulting
- Stability Testing
- Drug Substance
- Stability Indicating Method Validation
- Accelerated Stability Testing
- Photostability Testing
Breakup by End User:
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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