Dublin, Dec. 02, 2024 (GLOBE NEWSWIRE) — The “Pharmaceutical Analytical Testing Outsourcing – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Pharmaceutical Analytical Testing Outsourcing was estimated at US$10.3 Billion in 2023 and is projected to reach US$16.3 Billion by 2030, growing at a CAGR of 6.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the pharmaceutical analytical testing outsourcing market is driven by several factors, each contributing to the increasing reliance on external service providers. One of the key drivers is the rising complexity of drug molecules, particularly in the biologics and biosimilars sector. These drugs require more sophisticated analytical testing methods to ensure their safety, purity, and efficacy, which often necessitates the use of highly specialized equipment and expertise that pharmaceutical companies may lack internally. This has prompted the outsourcing of these tasks to CROs that possess the technological capabilities and regulatory know-how to handle complex biologics testing.
Another critical factor fueling growth is the cost-saving potential that outsourcing offers pharmaceutical companies. By outsourcing analytical testing, companies can avoid significant capital investment in expensive equipment and infrastructure while also reducing the costs associated with staffing and maintaining in-house laboratories. This is especially appealing to smaller biotech firms or start-ups that may lack the resources to develop in-house testing capabilities but require access to high-quality analytical services to advance their drug candidates.
Regulatory pressures are also driving the demand for outsourcing, as pharmaceutical companies face increasingly stringent requirements from regulatory agencies worldwide. CROs with expertise in regulatory compliance offer a distinct advantage by ensuring that testing processes meet global standards, mitigating the risk of delays or rejections during the approval process. Additionally, the growing trend toward globalization in drug development means that pharmaceutical companies are working across multiple geographic regions, each with its own regulatory requirements. This further increases the reliance on CROs that have a global footprint and the ability to navigate complex regulatory landscapes.
Lastly, the rapid advancements in digital technologies and data analytics have made outsourcing an attractive option for pharmaceutical companies looking to optimize their R&D processes. CROs that offer advanced data analytics capabilities can provide deeper insights into testing results, accelerating decision-making and improving the overall efficiency of drug development. These factors, combined with the growing demand for personalized and specialized medicines, ensure that the pharmaceutical analytical testing outsourcing market will continue to experience robust growth in the years to come.
What Are the Key Market Trends Driving Outsourcing in Pharmaceutical Analytical Testing?
Another major trend influencing the market is the rising regulatory scrutiny in drug development. Regulatory agencies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are enforcing stricter guidelines on drug safety, quality, and efficacy, prompting pharmaceutical companies to seek out CROs that can provide expertise in regulatory compliance and high-quality testing.
This includes testing for impurities, stability, and degradation, as well as ensuring that manufacturing processes adhere to Good Manufacturing Practices (GMP). The increasing prevalence of specialty and personalized medicines is also driving the need for more specialized testing services. Personalized therapies, particularly those based on genetics or rare diseases, often require highly specific analytical methods, which many pharmaceutical companies may not have the in-house capability to perform.
As a result, these companies are increasingly outsourcing their testing needs to CROs that specialize in niche areas of drug development. Additionally, the shift toward virtual pharma models, where companies focus exclusively on drug development and outsource all other functions, has further accelerated the demand for comprehensive analytical testing services.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Pharmaceutical Analytical Testing Outsourcing Market such as Bioreliance, Boston Analytical, Charles River Laboratories International, Inc., Dalton Pharma Services, Eurofins Scientific and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Bioanalytical Testing Service segment, which is expected to reach US$6.4 Billion by 2030 with a CAGR of a 8.0%. The Method Development & Validation Service segment is also set to grow at 6.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $2.8 Billion in 2023, and China, forecasted to grow at an impressive 6.2% CAGR to reach $2.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $10.3 Billion |
| Forecasted Market Value (USD) by 2030 | $16.3 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Pharmaceutical Analytical Testing Outsourcing – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Complexity of Drug Development and Regulatory Compliance Drives Demand for Outsourced Pharmaceutical Analytical Testing Services
- Increasing Stringent Regulatory Requirements from Global Health Authorities, Including FDA and EMA, Fuels Growth in Analytical Testing Outsourcing
- Growing Focus on Cost Efficiency and Speed-to-Market in Drug Development Spurs Demand for Outsourcing Analytical Testing Services
- Technological Advancements in Analytical Testing, Including High-Performance Liquid Chromatography (HPLC) and Mass Spectrometry, Enhance Testing Accuracy
- Expansion of Biologics and Biosimilars Development Strengthens Demand for Specialized Analytical Testing Outsourcing
- Increased Adoption of Outsourcing in Emerging Markets Drives Growth of Analytical Testing Services in Asia-Pacific and Latin America
- Rising Focus on Quality Control and Assurance in Drug Manufacturing Propels Demand for Outsourced Stability and Microbial Testing
- Growing Need for Advanced Testing Capabilities in Pharmaceutical Packaging, Including Extractables and Leachables Testing
- Emerging Use of Outsourced Analytical Testing for Preclinical and Clinical Trials Fuels Growth in Early-Stage Drug Development
- Rising Demand for Analytical Testing Outsourcing in the Development of Personalized Medicine and Gene Therapies
- Technological Innovations in Automation and AI-Powered Analytical Testing Solutions Enhance Efficiency and Data Accuracy
- Expansion of Contract Research Organizations (CROs) Offering End-to-End Analytical Testing Services Drives Market Growth
- Growing Use of Outsourced Analytical Testing in Generic Drug Development and Approval Processes
FOCUS ON SELECT PLAYERS:Some of the 42 companies featured in this Global Pharmaceutical Analytical Testing Outsourcing market report
- Bioreliance
- Boston Analytical
- Charles River Laboratories International, Inc.
- Dalton Pharma Services
- Eurofins Scientific
- Exova
- Halo Pharma
- Intertek Group PLC
- Pace Analytical Services, LLC
- Pharmaceutical Product Development, LLC
- SGS SA
- Toxikon, Inc.
- West Pharmaceutical Services, Inc.
- WuXi AppTec, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nczfq0
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- Pharmaceutical Analytical Testing Outsourcing Market
