Pharmaceutical Analytical Testing Outsourcing Market by Service and Geography - Forecast and Analysis 2022-2026

The pharmaceutical analytical testing outsourcing market share is expected to increase by USD 3.21 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.15%.

This pharmaceutical analytical testing outsourcing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers pharmaceutical analytical testing outsourcing market segmentation by service (bioanalytical, method development and validation, stability testing, and others) and geography (North America, Europe, APAC, South America, and MEA). The pharmaceutical analytical testing outsourcing market report also offers information on several market vendors, including Boston Analytical, Charles River Laboratories International Inc., Element Materials Technology Group Ltd., Eurofins Scientific SE, Intertek Group Plc, Laboratory Corp. of America Holdings, Pace Analytical Services LLC, PPD Inc., SGS SA, and WuXi AppTec Co. Ltd. among others.

What will the Pharmaceutical Analytical Testing Outsourcing Market Size be During the Forecast Period?

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Pharmaceutical Analytical Testing Outsourcing Market: Key Drivers and Challenges

The increased number of FDA-approved manufacturing facilities in developing nations is notably driving the pharmaceutical analytical testing outsourcing market growth, although factors such as shortage of trained professionals may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pharmaceutical analytical testing outsourcing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Pharmaceutical Analytical Testing Outsourcing Market Driver

The increased number of FDA-approved manufacturing facilities in developing nations will fuel the growth of the pharmaceutical analytical testing outsourcing market size. While selecting a partner for outsourcing drug discovery, pharmaceutical companies want manufacturing plants that are approved by the US FDA, have a skilled workforce, and have low operating costs. Meeting these criteria has resulted in investments in these nations for pharmaceutical analytical testing outsourcing. The FDA approval for these premises is a boon for the global pharmaceutical analytical testing outsourcing market as manufacturers in developing nations can maximize production at lower costs for pharmaceutical companies. Lowering costs brings additional revenue to the region, leading to further development of infrastructure. The growing manufacturing standards and the availability of staff with the required expertise in these nations lead to the growth of the pharmaceutical analytical testing outsourcing market. Therefore, the efficiency and cost-effectiveness for drug discovery are high in developing nations such as India and China, leading to the market's high growth.

Key Pharmaceutical Analytical Testing Outsourcing Market Challenge

The shortage of trained professionals may hamper the pharmaceutical analytical testing outsourcing market growth during the forecast period.  There is an immense shortage of trained laboratory professionals across the globe. There is also a reduction in proper training programs for laboratory professionals as the laboratories are under pressure to deliver faster turnaround times. As a result, less attention is given to these programs that train laboratory executives to become highly skilled professionals. Even the professionals currently working in laboratories are quitting their jobs or pursuing different fields in medicine. Attrition of laboratory professionals happens due to multiple factors such as dissatisfaction with salaries, inadequate training programs, the absence of job satisfaction, and lack of awareness about the profession. The lack of recognition and proper knowledge on the profession's importance also contributes to the dwindling population of laboratory professionals. All these factors will continue to affect the growth of the pharmaceutical analytical testing outsourcing market during the forecast period.

This pharmaceutical analytical testing outsourcing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Pharmaceutical Analytical Testing Outsourcing Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Boston Analytical
• Charles River Laboratories International Inc.
• Element Materials Technology Group Ltd.
• Eurofins Scientific SE
• Intertek Group Plc
• Laboratory Corp. of America Holdings
• Pace Analytical Services LLC
• PPD Inc.
• SGS SA
• WuXi AppTec Co. Ltd.

This statistical study of the pharmaceutical analytical testing outsourcing market encompasses successful business strategies deployed by the key vendors. The pharmaceutical analytical testing outsourcing market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The pharmaceutical analytical testing outsourcing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Pharmaceutical Analytical Testing Outsourcing Market?

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46% of the market's growth will originate from North America during the forecast period. The US is a key market for pharmaceutical analytical testing outsourcing in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The presence of key vendors and the rising demand for analytical methods such as characterization, process monitoring, release testing, and stability assessment will facilitate the pharmaceutical analytical testing outsourcing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Service Segments in the Pharmaceutical Analytical Testing Outsourcing Market?

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The pharmaceutical analytical testing outsourcing market share growth by the bioanalytical segment will be significant during the forecast period. The bioanalytical testing outsourcing segment is driven by growth in the pharmaceutical and biotechnology sectors. The companies working in these sectors are the primary consumers of analytical testing services, and they produce products that comply with regulatory parameters such as quality, purity, and safety of products. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the pharmaceutical analytical testing outsourcing market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Pharmaceutical Analytical Testing Outsourcing Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive pharmaceutical analytical testing outsourcing market growth during the next five years
• Precise estimation of the pharmaceutical analytical testing outsourcing market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the pharmaceutical analytical testing outsourcing industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of pharmaceutical analytical testing outsourcing market vendors

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