Global pharmaceutical analytical testing outsourcing market is expected to rise to an estimated value of USD 10.42 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the constrained budgets and the need for reducing the R&D expenses as well as manufacturing costs.
Pharmaceutical analytical testing outsourcing is the constitution of services from the manufacturing, testing and validating the pharmaceuticals and therapeutics. This involves validating pharmaceutical ingredient, compounds, manufacturing methods required for the development of these drugs. These outsourcing services are provided by specialized manufacturing organizations that are solely focused on outsourcing of these activities.
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Major Key players profiled in this report are:
SGS SA; TOXIKON; Eurofins Scientific; Pace Analytical Services, LLC; Intertek Group plc; Pharmaceutical Product Development, LLC; Exova; Charles River; Boston Analytical; West Pharmaceutical Services, Inc.; Dalton Pharma Services; Merck KGaA; Cambrex Corporation; WuXi AppTec; Source BioScience; Ajinomoto Bio-Pharma; Catalent, Inc; Gateway Analytical; Alcami Corporation; Aztech Sciences Inc.; Recro Gainesville and Next Breath, a division of AptarGroup Inc.
Major Market Drivers:
- Increasing usage of pharmaceuticals and therapeutics requiring specialized manufacturing capabilities; this factor is expected to drive the growth of the market
- Growth in modernization and innovations requiring reduction of operating costs of manufacturing and development; this factor is expected to enhance the growth of the market
- Presence of strict regulations and requirement of pertaining to the standards provided by the authorities; this factor is expected to flourish the growth of the market
- Reliance on performance of unstable outsourced manufacturing organizations; this factor is expected to hamper the market growth
- Concerns regarding privacy/theft of confidential data of manufacturing pharmaceuticals; this factor is expected to restrain the market growth
Reasons to Purchase this Report
- Current and future of global pharmaceutical analytical testing outsourcing market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Pharmaceutical Analytical Testing Outsourcing Market report enables organizations to get a decent knowledge into every one of the exercises that are functioning admirably in the market. The report helps to recognize the sales boosting factors and elements as well as helps the clients to understand their clients better. Additionally, it highlights the areas of risk and success in this market. It encourages the clients to investigate more and distinctive opportunities that will help to grow their business. The report enables the clients to not only achieve their short –term goals but long-term goals as well.
Segmentation: Global Pharmaceutical Analytical Testing Outsourcing Market
Global Pharmaceutical Analytical Testing Outsourcing Market By Service Type (Bioanalytical Testing, Method Development & Validation, Stability Testing, Others)
Product Type (Raw Materials, Finished Product, Active Pharmaceutical Ingredients)
End-Users (Pharmaceutical & Biopharmaceutical Companies, Biotechnology Industry)
Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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