The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s healthcare analytical testing services market report forecasts the healthcare analytical testing services market size to grow to $9.41 Billion by 2027, with a CAGR (compound annual growth rate) of more than 13%.

Learn More On The Healthcare Analytical Testing Services Market Report 2023 – https://www.thebusinessresearchcompany.com/report/healthcare-analytical-testing-services-global-market-report

Healthcare Analytical Testing Services Market Size Forecast
The global healthcare analytical testing services market is expected to grow from $4.86 billion in 2022 to $5.65 billion in 2023 at a compound annual growth rate (CAGR) of 16.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare analytical testing services market size is expected to grow to $9.41 billion in 2027 at a CAGR of 13.6%.

North America held the largest healthcare analytical testing services market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Healthcare Analytical Testing Services Market Driver ­– Increase In Cases Of Chronic Diseases
For instance, according to Firstpost, an India-based online news and media website, diabetes cases in India are expected to double to 134 million by 2025. Therefore, increasing cases of chronic diseases are driving the growth of the healthcare analytical testing service market.

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Key Healthcare Analytical Testing Services Market Trend – Technological Advancement
Major market players are creating innovative technologies to sustain their position in the market. For instance, in April 2022, Charles River Laboratories International Inc., a US-based pharmaceutical company that provides clinical analytical and drug discovery services, and Valo Health Inc., a US-based company operating in the drug discovery process, launched the Logica analytical platform. This integrated AI-powered drug testing platform helps to design drug molecules, synthesis capabilities, and DNA-encoded libraries and directly translates biological testing outputs into optimized preclinical results to enhance drug discovery and biological testing.

Healthcare Analytical Testing Services Market Segment
1) By Type: Bioanalytical Testing Services, Physical Characterization Services, Method Development And Validation Testing Services, Raw Material Testing Services, Batch-Release Testing Services, Stability Testing, Microbial Testing Services, Other Types
2) By End User: Pharmaceutical And Biopharmaceutical Companies, Medical Device Companies, Contract Research Organizations

Healthcare Analytical Testing Services Market Major Players and Strategies
Major players in the healthcare analytical testing services market are Laboratory Corporation, Eurofins Scientific SE, Charles River Laboratories International Inc., Pace Analytical Services LLC, WuXiAppTec, PPD Inc., Intertek Group plc, Syneos Health, ICON plc, Merck KGaA, SourceBio International plc, Element Materials Technology Group, Thermo Fisher Scientific Inc., Danaher Corporation, Almac Group, Steris Corporation, Sartorius AG, ALS Limited, Anacura Life Sciences, and Impact Analytical Testing Lab.

In December 2021, Laboratory Corporation, a US-based life science company specializing in diagnostic and contract research services, acquired Toxikon Corporation for an undisclosed amount. This acquisition helps Laboratory Corporation to expand its product portfolio in non-clinical analytical drug development and medical device analytical testing services. Toxikon Corporation is a US-based contract research organization specializing in nonclinical testing, drug development testing, medical device testing, and toxicology analytical services.

The Healthcare Analytical Testing Services Global Market Report 2023 covers regional data on healthcare analytical testing services market size, healthcare analytical testing services market trends and drivers, opportunities, strategies, and healthcare analytical testing services market competitor analysis. The countries covered in the healthcare analytical testing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Healthcare analytical testing service refers to the process of validation of procedures used in drug discovery and development, finished products, and the detection of microorganisms in biological drugs, suspensions, and emulsions.

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