Pharmaceutical Analytical Testing Outsourcing Market Trends

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.