Healthcare Analytical Testing Services Market Size, Share & Trends Analysis Report By Type (Medical Device, Pharmaceutical), By Region (APAC, North America, Europe, MEA)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Healthcare Analytical Testing Services market size is expected to hit around USD 27.9 billion by 2030 from valued at USD 12.1 billion in 2021 and growing at a CAGR of 9.3% from 2022 to 2030.

Key Takeaways:

  • The medical device and pharmaceutical market has strict regulations so they are adopting analytical testing services that are driving the market growth
  • The Pharmaceutical Analytical Testing Services market held the largest market share of 59.5% in 2021
  • North America dominated the global market with the largest revenue share of 54.7% in 2021 owing to the presence of the largest clinical trials market in the U.S.
  • The Asia Pacific region is anticipated to grow at the fastest CAGR of 9.8% during the forecast period
  • This growth can be credited to the development and expansion of new facilities in different countries present in this region

The increasing outsourcing of healthcare analytical testing services, growing demand for biosimilars, and rising number of clinical trials are some of the key factors that are driving the industry's growth. In addition, the COVID-19 pandemic contributed to the growth of the industry. Biosimilars are medications that have received FDA approval and share many biologic medicines’ approved features. When compared to biologics, they are a more affordable and effective treatment alternative, and it is projected that this will significantly increase demand in the coming years.

Analytical testing is highlighted as a crucial step in the development of biosimilars in a Sandoz International GmbH article, which increases demand for such services. The global COVID-19 pandemic is expected to offer high growth opportunities to the providers of such services. As pharmaceutical companies across the world have started clinical trials for the development of vaccines therapeutics, and medications for the treatment of COVID-19, the demand for analytical testing has increased. Also, to combat the coronavirus, the growing need to meet the global requirements of medical devices and pharmaceutical products, which must undergo rigorous testing before being distributed to customers, has boosted the production in the industry. This, in turn, is expected to augment the demand for such services.

Report Scope of the Healthcare Analytical Testing Services Market

Report Coverage

Details

Market Size

USD 27.9 Billion by 2030

Growth Rate

CAGR of 9.3% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

 and Region,

Companies Mentioned

 PPD, Inc.; ICON plc; LabCorp; Charles River Laboratories International, Inc.; Syneos Health; SGS SA; Eurofins Scientific; Pace Analytical Services, LLC; Toxikon, Inc.; Intertek Group

 

Type Insights

The type segment is further sub-segmented into medical device and pharmaceutical analytical testing services. The pharmaceutical analytical testing services segment accounted for the largest share of more than 59.00% of the global revenue in 2021 and is estimated to expand further at the fastest CAGR during the forecast period. The drivers of the growth of this segment include increasing demand from raw material suppliers and pharmaceutical manufacturers, innovation of new products that are directly linked to the demand for testing services, and a rise in complexity & number of standards, by which a single product may have to comply.

The medical device analytical testing services segment is anticipated to register the second-fastest CAGR during the forecast period. Constant developments in new technologies, increasing expertise in difficult analytical measurements, stringent regulations, and an increasing number of small-scale manufacturers of medical devices that have to go through testing services are among the major factors responsible for the growth of this segment. Analytical testing services for medical devices are further categorized into physical, bioburden, and sterility testing, extractable & leachable, material characterization, and other tests.

Regional Insights

The North America region dominated the global industry in 2021 and accounted for the maximum share of more than 54.5% of the total revenue. It has one of the top manufacturing facilities that provide complex, highly reliable, and high-end pharmaceuticals. Technological advancements and rising demand for healthcare testing services are factors expected to drive the regional sector’s growth during the forecast years. Also, biopharmaceutical companies are focusing on the U.S. market through investments due to the rapidly growing healthcare sector and favorable regulatory reforms.

On the other hand, the Asia Pacific region is expected to register the fastest growth rate during the forecast period owing to the increasing investments by companies from developed economies in enhancing regional analytical services, amendments made by regulatory bodies for changing evaluation standards to align with the global standards, and establishment of new facilities & alliances to increase the reach of their offerings to various locations in the region. For instance, in November 2021, LabCorp expanded its footprint in the Asia Pacific with the addition of a new integrated bioanalytical laboratory in Singapore. 

Some of the prominent players in the Healthcare Analytical Testing Services Market include:

PPD, Inc.; ICON plc; LabCorp; Charles River Laboratories International, Inc.; Syneos Health; SGS SA; Eurofins Scientific; Pace Analytical Services, LLC; Toxikon, Inc.; Intertek Group

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Healthcare Analytical Testing Services market

  • Type
    • Medical Device Analytical Testing Services
      • Extractable & Leachable
      • Material Characterization
      • Physical Testing
      • Bioburden Testing
      • Sterility Testing
      • Other Tests
    • Pharmaceutical Analytical Testing Services
      • Bioanalytical Testing
      • Method Development & Validation
      • Stability Testing
      • Other Testing Services

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Healthcare Analytical Testing Services industry analysis from 2022 to 2030 to identify the prevailing Healthcare Analytical Testing Services industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Healthcare Analytical Testing Services industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Healthcare Analytical Testing Services industry trends, key players, market segments, application areas, and market growth strategies.

Chapter 1. Methodology and Scope
                   1.1. Market Segmentation & Scope
                       1.1.1. Type
                       1.1.2. Region scope
                       1.1.3. Estimates and forecast timeline
                   1.2. Research Methodology
                   1.3. Information Procurement
                       1.3.1. Purchased database
                       1.3.2. Nova one advisor’ internal database
                       1.3.3. Secondary sources
                       1.3.4. Primary research
                       1.3.5. Details of primary research
                   1.4. Information or Data Analysis
                       1.4.1. Data analysis models
                   1.5. Market Formulation & Validation
                   1.6. Model Details
                       1.6.1. Commodity flow analysis (Model 1)
                           1.6.1.1. Approach 1: Commodity flow approach
                       1.6.2. Volume price analysis (Model 2)
                           1.6.2.1. Approach 2: Volume price analysis
                   1.7. List of Secondary Sources
                   1.8. List of Primary Sources
                   1.9. Objectives
                       1.9.1. Objective 1: Understanding the market dynamics
                       1.9.2. Objective 2: Understanding the market estimates and forecasts
                       1.9.3. Objective 3: Understanding the attributes such as strategy framework, competitor categorization
                       1.9.4. Objective 4: Understanding the key service and type scopes to conclude on the market size.
Chapter 2. Executive Summary
                   2.1. Market Outlook
                   2.2. Segment Outlook
                   2.3. Competitive Insights
Chapter 3. Healthcare Analytical Testing Services Market Variables, Trends & Scope
                   3.1. Penetration & Growth Prospect Mapping
                   3.2. Market Dynamics
                       3.2.1. Market driver analysis
                       3.2.2. Market restraint analysis
                       3.2.3. Industry challenges
                   3.3. Healthcare Analytical Testing Services Market Analysis Tools
                       3.3.1. Industry Analysis - Porter’s
                           3.3.1.1. Supplier power
                           3.3.1.2. Buyer power
                           3.3.1.3. Substitution threat
                           3.3.1.4. Threat of new entrant
                           3.3.1.5. Competitive rivalry
                       3.3.2. PESTEL Analysis
                           3.3.2.1. Political landscape
                           3.3.2.2. Technological landscape
                           3.3.2.3. Economic landscape
                       3.3.3. Major Deals & Strategic Alliances Analysis
                       3.3.4. COVID- Impact Analysis
Chapter 4. Healthcare Analytical Testing Services Market: Type Estimates & Trend Analysis
                   4.1. Segment Dashboard
                   4.2. Healthcare Analytical Testing Services Market Share, 2022 & 2030
                   4.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                       4.3.1. Medical Device Analytical Testing Services
                           4.3.1.1. Extractable & Leachable
                           4.3.1.2. Material Characterization
                           4.3.1.3. Physical Testing
                           4.3.1.4. Bioburden Testing
                           4.3.1.5. Sterility Testing
                           4.3.1.6. Other Tests
                       4.3.2. Pharmaceutical Analytical Testing Services
                           4.3.2.1. Bioanalytical Testing
                           4.3.2.2. Method Development & Validation
                           4.3.2.3. Stability Testing
                           4.3.2.4. Other Testing Services
Chapter 5. Healthcare Analytical Testing Services Market: Regional Estimates & Trend Analysis
                   5.1. Regional Market Dashboard
                   5.2. Regional Market Share Analysis, 2022 & 2030
                   5.3. North America
                       5.3.1. Market estimates and forecast by country, 2018 - 2030
                       5.3.2. Market estimates and forecast by type, 2018 - 2030
                       5.3.3. U.S.
                           5.3.3.1. Market estimates and forecast by type, 2018 - 2030
                       5.3.4. Canada
                           5.3.4.1. Market estimates and forecast by type, 2018 - 2030
                   5.4. Europe
                       5.4.1. Market estimates and forecast by country, 2018 - 2030
                       5.4.2. Market estimates and forecast by type, 2018 - 2030
                       5.4.3. U.K.
                           5.4.3.1. Market estimates and forecast by type, 2018 - 2030
                       5.4.4. Germany
                           5.4.4.1. Market estimates and forecast by type, 2018 - 2030
                       5.4.5. France
                           5.4.5.1. Market estimates and forecast by type, 2018 - 2030
                       5.4.6. Italy
                           5.4.6.1. Market estimates and forecast by type, 2018 - 2030
                       5.4.7. Spain
                           5.4.7.1. Market estimates and forecast by type, 2018 - 2030
                   5.5. Asia Pacific
                       5.5.1. Market estimates and forecast by country, 2018 - 2030
                       5.5.2. India
                           5.5.2.1. Market estimates and forecast by type, 2018 - 2030
                       5.5.3. Japan
                           5.5.3.1. Market estimates and forecast by type, 2018 - 2030
                       5.5.4. China
                           5.5.4.1. Market estimates and forecast by type, 2018 - 2030
                       5.5.5. Australia
                           5.5.5.1. Market estimates and forecast by type, 2018 - 2030
                       5.5.6. South Korea
                           5.5.6.1. Market estimates and forecast by type, 2018 - 2030
                   5.6. Latin America
                       5.6.1. Market estimates and forecast by country, 2018 - 2030
                       5.6.2. Brazil
                           5.6.2.1. Market estimates and forecast by type, 2018 - 2030
                       5.6.3. Mexico
                           5.6.3.1. Market estimates and forecast by type, 2018 - 2030
                       5.6.4. Argentina
                           5.6.4.1. Market estimates and forecast by type, 2018 - 2030
                       5.6.5. Colombia
                           5.6.5.1. Market estimates and forecast by type, 2018 - 2030
                       5.6.6. Chile
                           5.6.6.1. Market estimates and forecast by type, 2018 - 2030
                   5.7. MEA
                       5.7.1. Market estimates and forecast by country, 2018 - 2030
                       5.7.2. South Africa
                           5.7.2.1. Market estimates and forecast by type, 2018 - 2030
                       5.7.3. Saudi Arabia
                           5.7.3.1. Market estimates and forecast by type, 2018 - 2030
                       5.7.4. UAE
                           5.7.4.1. Market estimates and forecast by type, 2018 - 2030
Chapter 6. Competitive Landscape
                   6.1. Recent Developments & Impact Analysis, By Key Market Participants
                       6.1.1. Pharmaceutical Product Development
                           6.1.1.1. Company overview
                           6.1.1.2. Financial performance
                           6.1.1.3. Product benchmarking
                           6.1.1.4. Strategic initiatives
                       6.1.2. ICON plc
                           6.1.2.1. Company overview
                           6.1.2.2. Financial performance
                           6.1.2.3. Product benchmarking
                           6.1.2.4. Strategic initiatives
                       6.1.3. LabCorp
                           6.1.3.1. Company overview
                           6.1.3.2. Financial performance
                           6.1.3.3. Product benchmarking
                           6.1.3.4. Strategic initiatives
                       6.1.4. Charles River Laboratories International Inc.
                           6.1.4.1. Company overview
                           6.1.4.2. Financial performance
                           6.1.4.3. Product benchmarking
                           6.1.4.4. Strategic initiatives
                       6.1.5. Syneos Health
                           6.1.5.1. Company overview
                           6.1.5.2. Financial performance
                           6.1.5.3. Product benchmarking
                           6.1.5.4. Strategic initiatives
                       6.1.6. SGS SA
                           6.1.6.1. Company overview
                           6.1.6.2. Financial performance
                           6.1.6.3. Product benchmarking
                           6.1.6.4. Strategic initiatives
                       6.1.7. Toxikon, Inc.
                           6.1.7.1. Company overview
                           6.1.7.2. Financial performance
                           6.1.7.3. Product benchmarking
                           6.1.7.4. Strategic initiatives
                       6.1.8. Intertek Group
                           6.1.8.1. Company overview
                           6.1.8.2. Financial performance
                           6.1.8.3. Product benchmarking
                           6.1.8.4. Strategic initiatives
                       6.1.9. Pace Analytical Services, LLC
                           6.1.9.1. Company overview
                           6.1.9.2. Financial performance
                           6.1.9.3. Product benchmarking
                           6.1.9.4. Strategic initiatives
                       6.1.10. Eurofins Scientific
                           6.1.10.1. Company overview
                           6.1.10.2. Financial performance
                           6.1.10.3. Product benchmarking

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