A number of analytical services are provided in the market, such as bioanalytical testing, raw material testing, batch release testing, product validation, physical characterization and others. These services are widely employed in the healthcare sector, including pharmaceutical companies, biopharmaceutical companies and medical device companies. These services provide a reliable source for accuracy, quality and efficiency. They have applications in areas such as oncology, neurology, infectious diseases, cardiology and others.
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The analytical laboratory services market is growing with the rise in government initiatives to strengthen analytical testing capabilities and the growing number of drug approvals and clinical trials. Moreover, rising usage and development of a large number of macromolecules and biosimilar for various therapeutic areas and increased spending by governments to set up new laboratories are other factors accelerating the laboratory services market growth.
Data Bridge Market Research analyses that the analytical laboratory services market is expected to reach a value of USD 7,535.76 million by 2029, at a CAGR of 14.1% during the forecast period. The bioanalytical testing segment accounts for the largest offering segment in the analytical laboratory services market. The analytical laboratory services market report also covers pricing analysis, patent analysis, and technological advancements in detail.
Analytical laboratory services are concerned with a wide range of chemical and microbiological assays. Analytical laboratory services include method development and validation, sample analysis for concentration confirmation, purity, homogeneity, and stability assays on preliminary formulations and finalized drug products for IND, NDA, and ANDA submissions. Analytical services, also referred to as "materials testing," is used to describe various techniques used to identify the chemical makeup or characteristics of a particular sample. Manufacturers in industries such as pharmaceuticals, food, electronics, and plastics often use analytical testing for reverse engineering or failure analysis and identifying contaminants or stains on products
Collaborations in the market is the primary factor that is expected to create opportunities in the market. Agreements, partnerships, and collaborations are performed to overcome hurdles such as limited global presence and supply chain and to increase the service portfolio. In the analytical laboratory services market, various market players have performed this, creating opportunities in the market.
Some of the major companies providing analytical laboratory services in the North America analytical laboratory services market are Charles River Laboratories, Medpace, WuXi AppTec, Eurofins Scientific, Q2 Solutions (A Subsidiary of IQVIA), SGS SA, SOLVIAS AG, Syneos Health, ICON plc, Frontage Labs, TOXIKON, BioAgilytix Labs, VxP Pharma, Inc., Pace Analytical Services, LLC, Pharmaceutical Research Associates Inc., ALS Limited, Evotec SE, Intertek Group plc, Covance (A Subsidiary of Laboratory Corporation of America), and PPD Inc. (a subsidiary of Thermo Fisher Scientific Inc.) among others.
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-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.
[68 Pages Report] 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 overall market, by public health organization is positively impacted by factors such as the growing expenditure on drugs and medical devices by public health organizations, government initiatives to strengthen analytical testing capabilities, increasing number of drug approvals & 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 analytical laboratory services.Market DynamicsGrowing Expenditure on Drugs and Medical Devices By Public OrganizationsGovernment Initiatives to Strengthen Analytical Testing CapabilitiesIncreasing Number of Drug Approvals and Clinical TrialsRising Demand for Specialized Analytical Testing ServicesOn 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.Get a sample PDF copy of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65590498This 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.The geographical regions mapped in the report are:North AmericaEuropeGermanyAsia-PacificRest of the World (RoW)Geographically, the market, by public health organization is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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 supportTo know about the assumptions considered for the study, download the pdf brochure, visit:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65590498According to the new market research report "Analytical Laboratory Services Market by Public Health Organization, - by types of services (Stability, Raw Material, Physical Characterization, Method Validation, Microbial Testing, Environmental Monitoring, Bioanalytical Testing) - Forecast to 2021", published by MarketsandMarkets™, 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.Don’t miss out on business opportunities in Analytical Laboratory Services Market, visit: https://www.marketsandmarkets.com/requestsampleNew.asp?id=65590498The overall market, by public health organization is positively impacted by factors such as the growing expenditure on drugs and medical devices by public health organizations, government initiatives to strengthen analytical testing capabilities, increasing number of drug approvals & 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 analytical laboratory services.Browse and in-depth TOC on "Analytical Laboratory Services Market"37 - Tables7 - Figures68 - PagesOn 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.Read More Report @ https://www.marketsandmarkets.com/PressReleases/analytical-laboratory-services.asp
