Analytical Laboratory Services Market to Reach $333.8 Million by 2021 - Rising Demand for Specialized Analytical Testing Services
DUBLIN, August 25, 2017 /PRNewswire/ --
The "Analytical Laboratory Services Market - Forecast to 2021" report has been added to Research and Markets' offering.
The global analytical laboratory services market, by public health organization is projected to reach USD 333.8 Million by 2021 from USD 202.8 Million in 2016, at a CAGR of around 10.5% during the forecast period.
The key trends for increase in market, by public health organization are the growing expenditure on drugs and medical devices by public health organizations, steps by the government to build up strong analytical testing abilities, increasing number of drug approvals and clinical trials, and rising demand for specialized analytical testing services. However, complex and innovative pharmaceutical products requiring a distinctive analytical testing approach is the major challenge hampering the growth of government support.
On the basis of type of service, the spend assessment is segmented into eight segments, namely, bioanalytical testing, batch release testing, stability testing, raw material testing, physical characterization, method validation, microbial testing, and environmental monitoring. In 2015, the bioanalytical testing segment accounted for the largest share of the analytical laboratory services market, by public health organization. This growth can be attributed to factors such as the usage and development of a large number of macromolecules and biosimilars for various therapeutic areas and the growing biopharmaceutical industry across the globe. The spending on batch release testing services is expected to account for the second largest share during the forecast period. The growth can be attributed to the need for checking and validating the process for product development among pharmaceutical & biopharmaceutical companies and the increasing usage of dissolution test in the development and approval of generic solid oral dosage forms.
In 2015, North America commanded the largest share, followed by Europe, Asia-Pacific, and the RoW. Asia-Pacific represented the fastest-growing region for the market, by public health organization, primarily due to the fast-growing pharmaceutical industry in this region, increased government expenditure on healthcare, increasing number of highly competitive and extremely fragmented pharmaceutical companies, and increased spending by governments to set up new laboratories in Asian countries.
Companies Mentioned
- Agence franaise de scurit sanitaire des produits de sant (France)
- Agenzia Italiana del Farmaco (Italy)
- Central Drugs Standard Control Organization (India)
- China Food and Drug Administration
- European Medicines Agency (U.K.)
- Federal Institute for Drugs and Medical Devices (Germany)
- Pharmaceuticals and Medical Devices Agency (Japan).
- The Food and Drug Administration (U.S.)
- The Spanish Medicines and Health Products Agency (Spain)
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Spending Assessment Overview
5 Public Organization Spend Assessment for Healthcare Analytical Testing Services: Types of Services
6 Geographic Analysis
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/fvdnnn/analytical
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