Tech World Herald - Healthcare Analytical Testing Services Market is Expected to Capture Maximum More Than 12.7% CAGR By 2028

Healthcare Analytical Testing Services Market is Expected to Capture Maximum More Than 12.7% CAGR By 2028

Newsdesk 8/7 11:58

Healthcare analytical testing services are mostly adopted by pharmaceutical companies, biopharmaceutical companies, and medical equipment or device manufacturers to gain support in end-to-end stages of drug development. This analytical testing service offers important support in the overall drug development process that is from start of discovery of drug, through end of clinical trials and launch of drugs for commercial use.

The first five-year cumulative revenue (2018?2022) is projected to be more than US$ 20 Bn, which is expected to increase relatively over the latter part of the five-year forecast period. The global healthcare analytical testing services market is expected to value at more than US$ 3.5 Bn in 2019, and is expected to register a CAGR of 12.7%.

Major factors driving growth of the global healthcare analytical testing services market is due to high demand and need for outsourcing of research & development activities.

Growing biopharmaceutical industry, coupled with rising number of biopharmaceutical drugs in pipeline is resulting in high demand for bioanalytical testing services, which in turn is expected to fuel growth of the global healthcare analytical testing services market in the years to come.

Global Healthcare Analytical Testing Services Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global healthcare analytical testing services market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global healthcare analytical testing services market is expected to register a CAGR of 12.7% during the forecast period.

Global Healthcare Analytical Testing Services Market: Segmental Snapshot

By Service Type: The bioanalytical testing services segment is expected to register highest CAGR of over 12.8% over the forecast period in the global market

By End User: The contract research organizations segment is expected to register highest CAGR of over 12.9% over the forecast period in the global market

By Region: The market in Asia Pacific is expected to register highest CAGR of over 13.3% in the global healthcare analytical testing services market

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Global Healthcare Analytical Testing Services Market: Competitive Analysis

The research report on the global healthcare analytical testing services market includes profiles of some of the major companies such as Almac Group Limited, Element Materials Technology Group Limited, Eurofins Scientific SE, PPD Development, LP, Source BioScience plc, Intertek Group plc, Laboratory Corporation of America, Inc., BioReliance Corporation (Merck KGaA), Charles River Laboratories, Inc., and WuXi AppTec, Inc. (WuXi PharmaTech (Cayman) Inc.).


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