The global healthcare analytical testing services market to grow at a CAGR of 9.87% during the period 2017-2021.
Global Healthcare Analytical Testing Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is increasing outsourcing of analytical testing services. As the pharmaceutical and biotechnology companies seek to reduce the cost and time of the manufacturing process, a growing trend of outsourcing the analytical testing services to CRO has developed. This outsourcing helps the companies to keep control of the testing procedure, retain proprietary knowledge, and free up resources for R&D.
According to the report, one driver in the market is growing acceptance of QbD approach in research and manufacturing. Quality has been of utmost importance to pharmaceutical manufacturers. Drug developers have traditionally used late-stage quality testing to ensure safe and tested products reach the patients. This approach has been successful in the past, but there is another growing phenomenon in the industry, which is rapidly changing the drug manufacturing paradigm. QbD approaches are emerging rapidly in the market and are currently compelling pharmaceutical companies to shift from traditional manufacturing practices to systematic, data-driven strategies for delivering quality outcomes.
Further, the report states that one challenge in the market is changing formulations in product design. Over the years, efficient analytical testing methods have been developed for chemical formulations, which are commonly used. However, at present, numerous new formulations are being discovered and developed into medicines through extensive research. These new classes of molecules or chemical conjugates are difficult to analyze. Patient-specific cancer vaccines require a different conceptual approach, in which some (routine) test methods should test for non-patient-specific manufacturing (batch-to-batch) consistency, while the others should test for patient-specific critical quality attributes.
Increasing outsourcing of analytical testing services