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Major players in the market include Eurofins Scientific, Laboratory Corporation of America Holdings and Charles River Laboratories International.
DOUGLAS, Isle of Man, Jan. 9, 2023 /EINPresswire.com/ — Market Analysis of Pharmaceutical Testing and Analytical Services
The pharmaceutical testing and analytical services market is estimated to be valued at USD xx million in 2028. The market growth is due to growing interest in pharmacogenomics, the study of how genetics influence drug response. This trend is expected to continue as companies strive to develop personalized treatment plans for each patient.
Pharmaceutical Testing and Analytical Services Market Growth Drivers and Risks
Increase in clinical trials is the main factor driving the growth of the market. The number of clinical trials worldwide has increased significantly over the last few years. The healthcare industry is in increasing demand for clinical trials and innovations linked to technological advances. For example, in 2018, 293,341 clinical trials were conducted for new product design and development.
The pharmaceutical and analytical services market is driven by a focus on increasing revenues by pharmaceutical companies, especially biopharmaceuticals. These costs are astronomical due to the high R&D costs for drug development and the increasing number of drugs being developed. These costs have increased steadily over the past few years. In 2019, the cost of manufacturing new molecular entities (NMEs) was estimated to be in the range of $2-3.5 billion. Additionally, total R&D spending is projected to grow at a rate of more than 2% to 3% by 2020. This is primarily driven by critical unmet needs and strong technological advances.
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Key Players in Pharmaceutical Testing and Analytical Services Market
Leading players in the pharmaceutical testing and analytical services market include Eurofins Scientific, Laboratory Corporation of America Holdings, Charles River Laboratories International, Inc., SGS SA, Intertek Group plc, RD Laboratories, Inc, WuXi AppTec Co., Ltd., DYNALABS LLC (Infinity Laboratories), ARL Bio Pharma.
Pharmaceutical Testing and Analysis Services Market Segmentation
By service type:
• Bioanalytical testing
• Method development and validation
• Raw material testing
• Stability testing
• Microbial testing
• others
By end user:
• Medical device companies
• Pharmaceutical and biopharmaceutical companies
• others
table of contents-
Chapter 1 Executive Summary
1.1.market snapshot
1.2. Global and Segment Market Estimates and Forecasts, 2018-2027 (USD Billion)
1.2.1. Pharmaceutical Testing and Analytical Services Market, by Region, 2018-2027 (USD Billion)
1.2.2. Pharmaceutical Testing and Analytical Services Market by Service Type (USD Billion), 2018-2027
1.2.3. Pharmaceutical Testing and Analytical Services Market, by End User 2018-2027 (USD Billion)
1.3.main trends
1.4.estimation method
1.5.Research premise
Chapter 2 Global Pharmaceutical Testing and Analytical Services Market Definition and Scope
2.1. Purpose of research
2.2. Market definition and scope
2.2.1. Scope of investigation
2.2.2. Industry evolution
2.3. Years considered for study
2.4. Currency conversion rate
Chapter 3 Global Pharmaceutical Testing and Analytical Services Market Dynamics
3.1. Pharmaceutical Testing and Analytical Services Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market challenges
3.1.3. Market Opportunities
Chapter 4 Industry Analysis of Global Pharmaceutical Testing and Analytical Services Market
4.1. Porters 5 Force Model
4.1.1. Bargaining power of suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of new entrants
4.1.4. Threat of substitutes
4.1.5. Competitive Competition
4.1.6. Futuristic Approach to Porter’s Five Forces Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technical
4.3. Investment Recruitment Model
4.4. Analyst Recommendations and Conclusions
Chapter 5 Global Pharmaceutical Testing and Analysis Services Market by Service Type
5.1. Market Snapshot
5.2. Global Pharmaceutical Testing and Analytical Services Market by Service Type, Performance – Potential Analysis
5.3. Estimation and Forecast of Global Pharmaceutical Testing and Analytical Services Market by Service Type, 2017-2027 (USD Billion)
5.4. Pharmaceutical Testing and Analytical Services Market, Subsegment Analysis
5.4.1. Bioanalytical tests
5.4.2. Method Development and Verification
5.4.3. Raw material testing
5.4.4. Stability test
5.4.5. Microbiology
5.4.6. Miscellaneous
Chapter 6 Global Pharmaceutical Testing and Analytical Services Market by End User
6.1. Market Snapshot
6.2. Global Pharmaceutical Testing and Analytical Services Market by End User, Performance – Potential Analysis
6.3. Estimation and Forecast of Global Pharmaceutical Testing and Analytical Services Market by End-Users, 2017-2027 (USD Billion)
6.4. Pharmaceutical Testing and Analytical Services Market, Subsegment Analysis
6.4.1. Medical device companies
6.4.2. Pharmaceutical and biopharmaceutical companies
6.4.3. Miscellaneous
………….table of contents continues
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