Market Snapshot:
The pharmaceutical analysis serves a diversity of purposes as it is frequently used to identify the chemical composition and molecular structure of each individual substance contained in a medication. Pharmaceutical testing can disclose a pharmaceutical's solubility and can forecast the medication's capability to reach a specific target within the body. Testing may even disclose contamination in the manufacturing production process or highlight other, earlier unknown risks with the formulation. Pharmaceutical testing services are services offered to numerous pharmaceutical manufacturers, product manufacturers, and raw material suppliers. The need for increased efficiency and cost reduction by pharmaceutical companies has led to the rising opportunity for outsourcing analytical testing services.
Highlights from Pharmaceutical Testing Services Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.5% |
The key Players profiled in the report are Eurofins Scientific SE (Luxembourg), SGS (France), Envigo (United States), Exova Group PLC (United Kingdom), PPD Inc. (United States), Pace Analytical Services Inc. (United States), Intertek Group (United Kingdom), DYNALABS (United States), RD Laboratories (United States), ADPEN Laboratories (United States), West Pharmaceutical Services, Inc. (United States), Boston Analytical (United States), Accuratus Labs (United States), Microbac (United States), Charles River Laboratories International, Inc. (United States) and ARLBioPharma, Inc. (United States). Additionally, other players that are part of this comprehensive study are Lapuck Laboratories, Inc. (United States) and BioScreen Inc. (United States).
Geographic Breakdown and Segment Analysis
The Global Pharmaceutical Testing Services market presents a comprehensive analysis of the Pharmaceutical Testing Services market and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Pharmaceutical Testing Services industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Pharmaceutical Testing Services market
Analyst at AMA have segmented the market study of Global Pharmaceutical Testing Services market by Type, Application and Region.
Influencing Trend:
Growing Number of Clinical Trials and Increase in R&D Spending
Market Growth Drivers:
Companies are Gaining Efficacy in Specialized Testing for Product Verification Validation and Increasing Demand with Regard To Biological and Chemical Substances
Restraints:
Fluctuations in Regulatory Policies
Opportunities:
Companies Are Building a Solid Reputation with Pharmaceutical Companies to Conduct Analysis
Market Developments Activities:
On December 13, 2023 – Sterling Accuris Diagnostics, a leading chain of NABL-accredited pathology laboratories has announced the acquisition of Ahmedabad based Vaibhav Analytical Services, a leading provider of analytical testing services, including pharmaceutical/drug testing. With this acquisition, Sterling Accuris has successfully expanded its range of services offered to fields such as pharmaceutical analytical testing.
On March 2024, Element Materials Technology launched its Rapid Response Pharmaceutical Testing Service in its Manchester laboratory, providing expedited testing for customers around the world. The service will focus on various testing requirements, including active pharmaceutical ingredients (API) and final drug products, extractables and leachables, degradation production, and elemental impurities.
Regulatory Insights:
Before the medications are sold to consumers, they must be approved by the FDA’s Center for Drug Evaluation and Research. Any pharmaceutical product manufacturer requires quality control which is one of the Prerequisites to regulatory compliances. A significant portion of the cGMP regulations and all pharmacopeia methods such as USP, IP, EP, JP, BP, and In-house methods pertain to the quality control testing of products
The companies are involved in the testing and development of new bilirubin blood testing equipment and techniques. They form joint ventures, mergers, and acquisitions to launch new devices. Their primary goal is to provide devices that are cost-effective, easy to use, and produce tangible results.
Key Target Audience
Pharmaceutical Testing Service Providers, Pharmaceutical Companies, Regulatory Bodies, Governmental Bodies and Others