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Pharmaceutical Analytical Testing Outsourcing Market Trends

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

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Pharmaceutical Analytical Testing Outsourcing Market Trends

The pharmaceutical and biopharmaceutical companies confront ongoing pressure to accelerate new product development. Therefore, developing intricate analytical testing tools to ensure and maintain product quality requires a wider spectrum of equipment and expertise, frequently surpassing internal capacities. As a result, many companies increasingly turn to outsourcing pharmaceutical analytical testing services.
Thus, to address the growing trend of outsourcing, CMOs and CROs have expanded their networks to meet the increasing demand, thereby facilitating market expansion. For instance, in December 2023, Sterling Accuris Diagnostics, a prominent network of NABL-accredited pathology laboratories, acquired Vaibhav Analytical Services, a provider of analytical testing services, specializing in pharmaceutical and drug testing. This acquisition broadened the Sterling Accuris service portfolio, particularly in pharmaceutical analytical testing.
Thus, the increasing trend of outsourcing across pharmaceutical sectors along with business initiatives is expected to fuel market expansion.

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.