How Will the Healthcare Analytical Testing Services Market Grow? Key Trends and Opportunities for 2025 and Beyond
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What key factors are powering the surge in the healthcare analytical testing services market right now?
There has been substantial growth in the market size of healthcare analytical testing services in the past years. It’s projected to increase from $6.63 billion in 2024 to $7.62 billion in 2025, with a compound annual growth rate (CAGR) of 14.9%. Factors such as regulatory compliance, development and approval of drugs, the expansion of clinical trials, increasing aging population, and rise in chronic diseases contributed to this growth during the historical period.
How fast Is the healthcare analytical testing services market expected to grow, and what’s its future value?
A significant expansion is anticipated in the healthcare analytical testing services market over the coming years, reaching a valuation of $13.04 billion by 2029 with a CAGR of 14.4%. Factors contributing to this growth within the forecast period involve telemedicine, remote monitoring, drug safety protocols and pharmacovigilance, biopharmaceuticals, biosimilars, emerging markets, and an increase in regulatory stringency. Key trends throughout this period will encompass advanced analytical methodologies, strengthened data security and privacy, personalized medicine testing, AI and machine learning applications, and environmental and contaminant testing.
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What are the leading drivers of growth in the healthcare analytical testing services market?
The future growth of the healthcare analytical testing services market is predicted to be fueled by the rise in chronic disease cases. Chronic ailments, such as arthritis, asthma, cancer, diabetes etc., persist for over three months in human beings. Early diagnosis and treatment of these diseases can be facilitated by healthcare analytical testing services, impacting countless patients suffering from such conditions. For example, Firstpost, an Indian news and media website, predicts a two-fold increase in diabetes cases within the country, reaching 134 million by 2025. Hence, the escalation of chronic disease prevalence is a key factor propelling the expansion of the healthcare analytical testing service market.
What are the key segments defining the healthcare analytical testing services market?
The healthcare analytical testing services market covered in this report is segmented –
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
Subsegments:
1) By Bioanalytical Testing Services: Pharmacokinetics Testing, Biomarker Analysis
2) By Physical Characterization Services: Particle Size Analysis, Surface Area Analysis
3) By Method Development and Validation Testing Services: Analytical Method Development, Method Validation
4) By Raw Material Testing Services: Identity Testing, Purity Testing,
5) By Batch-Release Testing Services: Quality Control Testing, Compliance Testing, Stability Testing
6) By Stability Testing: Accelerated Stability Testing, Long-Term Stability Testing
7) By Microbial Testing Services: Sterility Testing, Endotoxin Testing
8) By Other Types: Residual Solvent Testing, Extractables And Leachable Testing
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Who are the key players steering the development of the healthcare analytical testing services market?
Major companies operating in the healthcare analytical testing services market include Almac Group, ALS Limited, Anacura Life Sciences, Charles River Laboratories International Inc., Danaher Corporation, Element Materials Technology Group, Eurofins Scientific SE, ICON plc, Impact Analytical Testing Lab, Intertek Group plc, Merck KGaA, Pace Analytical Services LLC, PPD Inc., Sartorius AG, SourceBio International plc, Steris Corporation, Syneos Health Inc., Thermo Fisher Scientific Inc., WuXi AppTec, Analytical Bio-Chemistry (ABC) Laboratories, Avance Biosciences, Avista Pharma Solutions, Avomeen Analytical Services, BioPharma Services Inc., Boston Analytical, Exova, Laboratory Corporation, MedPharm Inc., Micro Quality Labs, Microbac Laboratories, Microbac Laboratories Inc., Nelson Laboratories LLC, Pacific Biolabs Inc., PPD Inc.
What emerging trends are influencing the growth of the healthcare analytical testing services market?
The primary trend gaining traction in the healthcare analytical testing service market is technological innovation. Top market participants are developing cutting-edge technologies to maintain their market positioning. For example, a pharmaceutical firm based in the US, Charles River Laboratories International Inc., known for their clinical analytical and drug discovery services, along with Valo Health Inc., a US-based company involved in the drug discovery process, introduced the Logica analytical platform in April 2022. This all-inclusive, AI-enabled drug testing platform is used for designing drug molecules, synthesis capabilities, and DNA-encoded libraries, and turns biological testing outputs directly into optimized preclinical results, thereby improving drug discovery and biological testing.
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Which regions are most influential in expanding the healthcare analytical testing services market?
North America was the largest region in the healthcare analytical testing services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare analytical testing services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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