U.S. Pharmaceutical Analytical Testing Outsourcing Market
Dublin, Aug. 30, 2022 (GLOBE NEWSWIRE) -- 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. 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.
Increasing Innovation in Testing Services
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
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 Chapter 6. Competitive Landscape Companies Mentioned
Charles River Laboratories International, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/p0lok1
U.S. Pharmaceutical Analytical Testing Outsourcing Market
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