The global pharmaceutical analytical testing
outsourcing market is expected to reach USD 9.6 billion by 2025. The performance
of market players in pharmaceutical analytical testing domain is highly
influenced by the level of demand from end-user side. Due to intense market
efforts, increasing awareness level, improving accessibility, and government
initiatives, consumers, these days, are more concerned about self-care,
resulting in higher consumption of pharmaceutical products.
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The consumption levels are anticipated to rise
exponentially over the forecast period. The companies and government
organizations are working collaboratively to bridge the gap between supply and
demand. As a result, companies have to realign their manufacturing capabilities
to meet the increasing demand.
A major price difference between conducting
analytical tests in-house and outsourcing has been observed. Companies may lack
the required set-up and expertise to perform every possible test in-house. In
addition, there are serval no routine activities that are needed to be
performed only once.
These include registration stability storage &
testing, process & facility validation work, cleaning validations,
analytical testing using expensive equipment & method development. For such
tests, the best option is to outsource it to a specialty firm that has
expertise and experience in this vertical. Outsourcing benefits companies with
various aspects such as personnel management and reduction of equipment,
validation & maintenance cost.
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Further
Key Findings From the Study Suggest:
- The other methods of validation services include cleaning validation services, analytical standard characterization, and peak identification. These services are anticipated to witness growth over the forecast period.
- Clinical bioanalytical testing market is likely to witness growth rate of over 8.0% during the forecast period owing to the increasing number of clinical trials coupled with a strengthened regulatory framework to perform drug discovery and development process at par with excellence.
- North America is expected to dominate the market at a global level owing to the better quality and propelling research activities being conducted within the region.
- Some of the key players in this market include SGS SA; Toxikon, Inc.; Eurofins Scientific; Pharmaceutical Product Development, LLC; Intertek Group plc; Pace Analytical Services, LLC; Exova Group plc; Boston Analytical; Charles River Laboratories International Inc.; and West Pharmaceutical Services, Inc. Regional & service portfolio expansions and merger & acquisitions are key strategic undertakings of these players.
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