(EMAILWIRE.COM, December 22, 2018 ) The healthcare analytical testing services market is expected to reach USD 5.97 Billion by 2023 from USD 3.09 Billion in 2017, at a CAGR of 11.7%. The shift of focus towards analytical testing of biologics and biosimilars, increasing outsourcing of analytical testing by pharmaceutical companies, increasing acceptance of the QbD approach in pharma research/manufacturing, and adoption of FTE contracts in R&D outsourcing are the major factors driving the growth of the healthcare analytical testing services market.

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The global healthcare analytical testing services market by end user is segmented into pharmaceutical and biopharmaceutical companies, medical device companies and contract research organizations. In 2017, the pharmaceutical and biopharmaceutical companies segment accounted for the largest share of the market. The large share of this segment can be attributed to the increasing outsourcing of analytical testing services by pharmaceutical and biopharmaceutical companies to boost profit margins, avoid high capital expenditure, and reduce the time required to validate the process and product.

Geographically, the global healthcare analytical testing services market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America accounted for the largest share of the healthcare analytical testing services market, followed by Europe and Asia Pacific. The presence of a well-established pharmaceutical industry in the region, coupled with the high R&D expenditure, growth in the biosimilars and generics markets, increasing number of analytical testing service providers, and rising outsourcing of analytical testing by biopharmaceutical companies are the major factors driving the growth of the healthcare analytical testing services market in North America.

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The prominent players in the global healthcare analytical testing services market are Eurofins Scientific (Luxembourg), Wuxi PharmaTech (China), Charles River Laboratories (US), Almac Group (UK), Exova Group (UK), PPD (US), Source BioScience (UK), Anabiotec (Belgium), Intertek Group (UK), and BioReliance (US).

Eurofins Scientific (Luxembourg) held the leading position in the global healthcare analytical testing services market in 2017. Over the past three years, the company has established itself as one of the leading players in the healthcare analytical testing services market.

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