DUBLIN--(BUSINESS WIRE)--The "Analytical Laboratory Services Market Analysis by Service Type, by Test Type, by End-Users, and by Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
An increase in market players' investment in analytical testing, rising number of drug approvals and clinical trials, initiatives of the government to improve analytical testing capacities, the rising cost of drugs and medical products, and rising need for advanced analytical testing services are some of the primary market drivers.
However, expensive advanced analytical labs, regular laboratory costs for drug development, and limitations in the analysis of new complex products are expected to restrain the market growth.
Regional Markets
In 2021, North America had the greatest share of the market due to the growing number of clinical trials, the significant investment in quality testing, the strong regulatory situation, and the region's well-established government testing facilities. However, during the projection period, Asia-Pacific is predicted to develop at the fastest CAGR.
This can be contributed to the region's rapidly growing pharmaceutical industry, an increase in the number of highly competitive and highly fragmented pharmaceutical companies, increased government spending to establish new laboratories, and increased government spending on healthcare in Asian countries.
Companies Mentioned
- Syneos Health (US)
- Cardinal Health Inc. (US)
- Covance (a subsidiary of laboratory corporation of america holdings) (US)
- Wuxi Apptec (China)
- SGS S.A (Switzerland)
- Eurofins Scientific (France)
- Charles River Laboratories (US)
- Federal Institute for Drugs & Medical Devices (bfarm) (Germany)
- European Medicines Agency (European Union)
- Central Drugs Standard Control Organization (India)
- Evotec se (Germany)
- Agenzia italiana del farmaco - aifa (italy)
- Bioagilytix Labs (US)
- Pharmaceutical Research Associates Inc. (US)
- ALS Limited (Australia)
Market Segmentation:
Service Type (Revenue, USD Million)
- Stand-alone Laboratories
- Hospital-based Laboratories
- Clinics based Laboratories
Test Type (Revenue, USD Million)
- Stability Testing
- Bioanalytical Testing
- Method Validation
- Raw Material Testing
- Batch Release Testing
- Physical Characterization
- Environmental Monitoring
- Microbial Testing
End-Users (Revenue, USD Million)
- Biotechnology Companies
- Pharmaceutical Companies
- Others
By Region (Revenue, USD Million)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
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