Analytical Laboratory Services Market to Reach USD 333.8m by 2021, Research and Markets Forecasts
28 August 2017 - - The global analytical laboratory services market, by public health organisation is projected to reach USD 333.8m by 2021 from USD 202.8m in 2016, at a CAGR of around 10.5% during the forecast period, according to a report from Dublin-based Research and Markets.

Key trends driving this market, include the growing expenditure on drugs and medical devices by public health organisations, steps by the government to build up strong analytical testing abilities, an increasing number of drug approvals and clinical trials, and rising demand for specialised analytical testing services.

However, complex and innovative pharmaceutical products requiring a distinctive analytical testing approach is the major challenge hampering the growth of government support.

On the basis of type of service, the spend assessment is segmented into eight segments, namely, bioanalytical testing, batch release testing, stability testing, raw material testing, physical characterization, method validation, microbial testing, and environmental monitoring.

In 2015, the bioanalytical testing segment accounted for the largest share of the analytical laboratory services market, by public health organisation.

This growth can be attributed to factors such as the usage and development of a large number of macromolecules and biosimilars for various therapeutic areas and the growing biopharmaceutical industry across the globe.

The spending on batch release testing services is expected to account for the second largest share during the forecast period.

Growth can be attributed to the need for checking and validating the process for product development among pharmaceutical and biopharmaceutical companies and the increasing usage of dissolution test in the development and approval of generic solid oral dosage forms.

In 2015, North America commanded the largest share, followed by Europe, Asia-Pacific, and the RoW. 

Asia-Pacific represented the fastest-growing region for the market, by public health organisation, primarily due to the fast-growing pharmaceutical industry in this region, increased government expenditure on healthcare, increasing number of highly competitive and extremely fragmented pharmaceutical companies, and increased spending by governments to set up new laboratories in Asian countries.

Key players in this market include Agence franaise de scurit sanitaire des produits de sant (France), Agenzia Italiana del Farmaco (Italy), Central Drugs Standard Control Organization (India), China Food and Drug Administration, European Medicines Agency, Federal Institute for Drugs and Medical Devices (Germany), Pharmaceuticals and Medical Devices Agency (Japan), The Food and Drug Administration and The Spanish Medicines and Health Products Agency (Spain).