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Pharmaceutical Analytical Testing Outsourcing Market Size

Report ID: GMI8572
Published Date: Mar 2024
Report Format: PDF

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Pharmaceutical Analytical Testing Outsourcing Market Size

Pharmaceutical Analytical Testing Outsourcing Market was valued at USD 7.9 billion in 2023 and is expected to register a CAGR of 8% over the analysis period (2024-2032).

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The market experienced significant growth due to rigorous regulatory requirements from health authorities such as the Food and Drug Administration (FDA), and the European Medicines Agency (EMA), which consistently elevate standards for pharmaceutical quality, safety, and efficacy, necessitating thorough testing throughout development and manufacturing. This has raised the significance of comprehensive analytical testing to ensure compliance, validate product quality, and identify impurities. Hence, as companies strive to adhere to these evolving regulations, there has been a significant surge in demand for analytical testing services, highlighting its crucial role in maintaining pharmaceutical integrity and enhancing public trust in the effectiveness and safety of medications, thereby augmenting the market growth.

Pharmaceutical analytical testing outsourcing refers to the practice of delegating the analysis of pharmaceutical products, raw materials, and intermediates to outsourcing service providers. These providers, including contract research organizations (CROs), contract manufacturing organizations (CMOs), or other specialized laboratories, lead various analytical tests to assess the quality, purity, potency, and safety of pharmaceutical compounds.

Pharmaceutical Analytical Testing Outsourcing Market Report Attributes
Report Attribute	Details
Base Year:	2023
Pharmaceutical Analytical Testing Outsourcing Market Size in 2023:	USD 7.9 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	8%
2024 – 2032 Value Projection:	USD 15.8 Billion
Historical Data for:	2018 – 2023
No. of Pages:	190
Tables, Charts & Figures:	412
Segments covered:	Service, Product Type, End-user, and Region
Growth Drivers:	Globalization of the pharmaceutical industry Regulatory framework Growing advancements in analytical instrumentations Increasing outsourcing trends
Pitfalls & Challenges:	Quality concerns and risk mitigation Confidentiality and intellectual property protection

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Market size for pharmaceutical analytical testing outsourcing reached a revenue of USD 7.9 billion in 2023 and is expected 8% CAGR over 2024-2032 due to rigorous regulatory requirements from health authorities such as the FDA, and the European Medicines Agency

Pharmaceutical analytical testing outsourcing industry from the stability testing segment is anticipated to amass USD 6.6 billion in revenue by the end of 2032 owing to increasing use in ensuring the quality, safety, and efficacy of pharmaceutical products.

North America industry is projected to generate USD 8.3 billion in revenue by 2032 owing to the ongoing technological advancements, increasing chronic disease cases, as well as rising pharmaceutical research, development, and funding in the region.

Some of the top firms engaged in the market are BA Sciences, Charles River Laboratories International, Inc., Eurofins Scientific, Labcorp Drug Development, Immunologix Laboratories, Indoco Analytical Solutions, Intertek Group plc, Pace Analytical Services, LLC, Thermo Fisher Scientific, Inc., SGS Societe Generale de Surveillance SA., STERIS, Triclinic Labs, Inc., West Pharmaceutical Services, Inc., and Wuxi AppTec.