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The global pharmaceutical analytical testing outsourcing market, valued at USD 7.74 billion in 2022, is projected to grow at a (CAGR) of 7.6%

VANCOUVER, BRITISH COLUMBIA, CANADA, June 5, 2024 /EINPresswire.com/ -- Market Expected to Reach USD 14.16 Billion by 2032

The global pharmaceutical analytical testing outsourcing market, valued at USD 7.74 billion in 2022, is projected to grow at a (CAGR) of 7.6% over the forecast period, reaching an estimated USD 14.16 billion by 2032. This growth is driven by several key factors, including increased focus on biopharmaceutical and biosimilar testing, a rise in clinical trial registrations, growing awareness of outsourcing benefits, heightened investments in pharmaceutical R&D, and the escalating demand for product safety and quality.

Key Market Drivers

A significant driver of market growth is the growing focus on biopharmaceutical and biosimilar testing. The life sciences sector, characterized by its resilience to economic fluctuations due to the essential nature of pharmaceutical products, finds analytical testing outsourcing a cost-effective strategy. This approach reduces capital expenditures on infrastructure and the costs associated with hiring, training, and maintaining specialized personnel and equipment.

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Pharmaceutical Analytical Testing Outsourcing Top Companies and Competitive Landscape

The global pharmaceutical analytical testing outsourcing market is fragmented, with several medium and large-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and novel testing facilities.

Some major players included in the global pharmaceutical analytical testing outsourcing market report are:

SGS
Intertek Group plc
Eurofins Scientific
Boston Analytical
Charles River Laboratories.
Pace
West Pharmaceutical Services, Inc.
Ajinomoto Bio-Pharma.
Gateway Analytical.
AptarGroup, Inc.
Alcami Corporation
Catalent, Inc
Thermo Fisher Scientific Inc.
Laboratory Corporation of America Holdings
WuXi AppTec
Merck KgaA

Pharmaceutical Analytical Testing Outsourcing Latest Industry News

In November 2023, Conductor and Acquia, a U.S.-based Software-as-a-Service company, have unveiled a strategic partnership. Under this collaboration, Conductor's AI-powered SEO intelligence, embedded in Conductor's organic marketing platform, will be incorporated into Acquia's Open Digital Experience Platform (DXP). The objective is to empower brands in optimizing their digital experiences and leveraging the traffic-generation capabilities of their website within the Acquia platform.

In August 2023, Parexel has joined forces with Partex to harness artificial intelligence-powered solutions for expediting drug discovery and development processes. As the preferred Contract Research Organization (CRO) partner for Partex, Parexel will take charge of overseeing the management of clinical trial execution. Through this collaboration, both entities will collaborate to improve clinical trial execution by incorporating Partex's validated AI platform. The objective is to complement and expand Parexel's existing AI tools and capabilities.

Additionally, the rising number of clinical trial registrations is bolstering market growth. Biopharmaceutical companies are increasingly entering into operational and strategic collaborations through outsourcing and partnership models, viewing contract research organizations (CROs) that invest in data science as valuable partners.

Market Insights

Product Type: The active pharmaceutical ingredients (APIs) segment held the largest market share in 2022. Europe, in particular, is a hub for pharmaceutical innovation, driven by supportive regulatory environments and substantial investments in drug discovery and development.

Service Type: The bioanalytical testing segment led the market in 2022, with emerging technologies like next-generation sequencing (NGS) and microfluidics gaining traction. Companies such as Charles River, SGS, and Eurofins are adopting advanced technologies to enhance their services.

End-Use: Pharmaceutical and biopharmaceutical companies dominated the market in 2022. The demand for outsourced services, such as bioanalytical testing and biomarker analysis, has surged due to the complexity of drug development processes and regulatory requirements.

Pharmaceutical Analytical Testing Outsourcing Market Segment Analysis

For the purpose of this report, Emergen research has segmented the global pharmaceutical analytical testing outsourcing market on the basis of product type, service type, end use, and region:

Product Type Outlook (Revenue, USD Billion; 2019-2032)
Raw Materials
Active Pharmaceutical Ingredients
Finished Products

Service Type Outlook (Revenue, USD Billion; 2019-2032)
Bioanalytical Testing
Clinical
Non-Clinical
Method Development & Validation
Extractable & Leachable
Impurity Method
Technical Consulting
Others
Stability Testing
Drug Substance
Stability Indicating Method Validation
Accelerated Stability Testing
Photostability Testing
Others
Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)
Pharmaceutical Companies and Biopharmaceutical Companies
Hospitals
Specialized Clinics
Contract Research Organizations (CROs)

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Regional Outlook (Revenue, USD Billion; 2019–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

Recent Developments

In November 2023, Ichor Life Sciences launched Ichor Clinical Trial Services, offering comprehensive clinical trial solutions from early preclinical research to late-stage clinical trials and FDA approval.

On 5 April 2022, Bruker Corporation acquired Optimal Industrial Automation and Technologies, enhancing its capabilities in pharmaceutical manufacturing automation and quality assurance.

On 20 December 2023, SGS partnered with Agilex Biolabs to expand its presence in the bioanalysis services industry, providing clients with seamless bioanalytical support from Phase 1 to Phase 3.

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Challenges

Despite the positive outlook, the market faces several challenges. These include a shortage of skilled professionals, privacy concerns, fluctuations in Good Manufacturing Practices (GMP), difficulties in developing robust analytical techniques, a complex regulatory framework, and the need for rapid turnaround times.

The global pharmaceutical analytical testing outsourcing market is on a robust growth trajectory, driven by advancements in biopharmaceutical testing, strategic collaborations, and the increasing complexity of drug development processes. While challenges such as data security and regulatory compliance remain, the industry is well-positioned to continue its expansion, leveraging specialized expertise and cutting-edge technologies to meet the evolving needs of the pharmaceutical and biotechnology sectors.

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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