This report aims to provide detailed insights into the global healthcare analytical testing services market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Revenue Growth Analysis:
The global Healthcare Analytical Testing Services Market size is projected to reach USD 8.4 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 11.4% during the forecast period.
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Key Factors Driving Market Growth:
Factors such as the increased outsourcing of analytical testing services by pharmaceutical companies, rising focus on specialized testing services for biologics and biosimilars, and the growing number of clinical trials are expected to drive the growth of the healthcare analytical testing services market.
By type, the bioanalytical testing services segment is expected to dominate the healthcare analytical testing services market in 2020
Based on type, the analytical testing services has been segmented into bioanalytical testing services, physical characterization services, method development & validation services, raw material testing services, batch-release testing services, stability testing services, microbial testing services, and environmental monitoring services. Within bioanalytical testing services, cell-based assays accounted for the largest share in 2020. The large share of this segment can be attributed to their utility in checking the strength and stability of the therapeutic product through all the phases of the clinical study.
By end user, medical device companies are expected to grow at the highest CAGR in the healthcare analytical testing services market in the forecast period
Based on end user, the healthcare analytical testing services market has been segmented into pharmaceutical & biopharmaceutical companies, medical device companies, and CROs. The medical device companies market is estimated to show the highest CAGR in the forecast period, as analytical testing companies are seeing more requests from OEMs for material characterization testing for medical devices and materials. Moreover, demand has grown for the continuous development of expertise in chemical evaluations from these companies.
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North America holds the largest share in the market in 2020, followed by Europe
North America dominates the overall market based on region. This can be attributed to the large number of major pharmaceutical R&D companies and medical device companies headquartered in this region, the rising number of clinical trials being conducted here, and the strong presence of CROs.
Key Players:
The prominent players in the healthcare analytical testing services market include Eurofins Scientific (Luxembourg), LabCorp (US), SGS (Switzerland), Charles River Laboratories (US), WuXi PharmaTech (China), PPD (US), Element Materials Technology (UK), Pace Analytical (US), Intertek (UK), Merck KGAA (Germany), Source BioScience (UK), Almac Group (Ireland), ICON (Ireland), Frontage Labs (US), STERIS PLC (US), PRA Health Sciences (US), Syneos Health (US), Medpace Holdings (US), LGC Limited (UK), and Anacura (Belgium).
Eurofins Scientific (US) was the leader in the global healthcare analytical testing services in 2019. The company has a diversified service portfolio, which includes a wide range of healthcare analytical testing services. The company operates in more than 800 laboratories and has a portfolio of over 200,000 analytical methods. It has displayed a major emphasis on acquisition in the past years.
Healthcare Analytical Testing Services Market: Focus on Analytical Testing of Biologics and Biosimilars
Blockchain as a technology has grown to become one of the most influential inventions of the modern-day world.
The latest from the blockchain space is that the industry players believe the technology boosts the potential to transform the healthcare industry for a greater good.
After disrupting every other industry on the planet, blockchain has moved towards the healthcare sector.
Experts believe that being a reliable and secure digital ledger, blockchain development technology can transform the healthcare sector in many ways.For starters, Blockchain solutions for healthcare can help improve three critical issues in the industry that are clinical trials, patient data management, and drug traceability.
The alkaline phosphatase kits market is expected to grow at a subdued rate over the 2018-2027 forecast period.
The factor has resulted in the medical sector accounting for 59.8% of the market share in 2018.
According to the report, the alkaline phosphatase kits market is projected to grow at 2.9% CAGR through 2027.Demands for alkaline phosphatase kits with pack sizes ranging from 101-500 have continued to remain rampant on account of its substantial cost difference with pack sizes ranging from 501-1000 and a modest value disparity with pack sizes up to 100.
The difference between the average costs of pack sizes ranging from 501-1000 and pack sizes falling in the range of 101-500 was found to be over US $700 in 2018 while the difference in the cost of the latter and alkaline phosphate kits with pack sizes of 100 and below was under US $110.Increasing Alcohol Consumption Making Global Population Susceptible to Liver CancerChanging lifestyle and increased consumption of alcohol around the world is putting the global population at a higher risk of developing liver cancer.
The per capita consumption of alcohol in the population aged over 15 was recorded as 6.4 liters in 2016 and over half of the populace in Europe, North America, and Western Pacific were found to consume alcohol.
Rising health consciousness and increasing awareness regarding the negative impact of alcohol has resulted in a growth in the number of people opting for routine diagnosis.
Educating and creating initiatives about digitalization in software based analysis methods also leads to the growth of this market.
Moreover, initial cost of software which is used and technically easy way to support the data and summaries is low and increasing demand for IT departments in healthcare industry will increase the growth of the market.
However, all personal data stored online and accessible through internet may hinder the growth of this market.
Request For Sample Report: https://www.marketresearchfuture.com/sample_request/1017 SegmentationGlobal practice analytics market is segmented on the basis of its module type and application.
On the basis of module type, it is segmented into clinical module, front office module, and business module.
America dominates a major share of this market as government is backing more research and development in the information technology sector.
We are the most effective Healthcare IT Services that you can trust and here are the reasons that make us the best IT service provider for healthcare sectors.
Read more :Healthcare IT Services
Blockchain as a technology has grown to become one of the most influential inventions of the modern-day world.
The latest from the blockchain space is that the industry players believe the technology boosts the potential to transform the healthcare industry for a greater good.
After disrupting every other industry on the planet, blockchain has moved towards the healthcare sector.
Experts believe that being a reliable and secure digital ledger, blockchain development technology can transform the healthcare sector in many ways.For starters, Blockchain solutions for healthcare can help improve three critical issues in the industry that are clinical trials, patient data management, and drug traceability.
We are the most effective Healthcare IT Services that you can trust and here are the reasons that make us the best IT service provider for healthcare sectors.
Read more :Healthcare IT Services
The alkaline phosphatase kits market is expected to grow at a subdued rate over the 2018-2027 forecast period.
The factor has resulted in the medical sector accounting for 59.8% of the market share in 2018.
According to the report, the alkaline phosphatase kits market is projected to grow at 2.9% CAGR through 2027.Demands for alkaline phosphatase kits with pack sizes ranging from 101-500 have continued to remain rampant on account of its substantial cost difference with pack sizes ranging from 501-1000 and a modest value disparity with pack sizes up to 100.
The difference between the average costs of pack sizes ranging from 501-1000 and pack sizes falling in the range of 101-500 was found to be over US $700 in 2018 while the difference in the cost of the latter and alkaline phosphate kits with pack sizes of 100 and below was under US $110.Increasing Alcohol Consumption Making Global Population Susceptible to Liver CancerChanging lifestyle and increased consumption of alcohol around the world is putting the global population at a higher risk of developing liver cancer.
The per capita consumption of alcohol in the population aged over 15 was recorded as 6.4 liters in 2016 and over half of the populace in Europe, North America, and Western Pacific were found to consume alcohol.
Rising health consciousness and increasing awareness regarding the negative impact of alcohol has resulted in a growth in the number of people opting for routine diagnosis.
Educating and creating initiatives about digitalization in software based analysis methods also leads to the growth of this market.
Moreover, initial cost of software which is used and technically easy way to support the data and summaries is low and increasing demand for IT departments in healthcare industry will increase the growth of the market.
However, all personal data stored online and accessible through internet may hinder the growth of this market.
Request For Sample Report: https://www.marketresearchfuture.com/sample_request/1017 SegmentationGlobal practice analytics market is segmented on the basis of its module type and application.
On the basis of module type, it is segmented into clinical module, front office module, and business module.
America dominates a major share of this market as government is backing more research and development in the information technology sector.