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The healthcare analytical testing services market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 13%, as per The Business Research Company’s market report!

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The Healthcare Analytical Testing Services Market Size In 2022 And Forecast
The global healthcare analytical testing services market is expected to grow from $4.11 billion in 2021 to $4.83 billion in 2022 at a compound annual growth rate (CAGR) of 17.7%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The healthcare analytical testing service market is expected to grow to $8.06 billion in 2026 at a CAGR of 13.6%.

The healthcare analytical testing service market consists of sales of healthcare analytical testing services by entities (organizations, sole traders, and partnerships) that are used to perform quality control of active pharmaceutical ingredients and intermediates in drug development.

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Increase In Cases Of Chronic Diseases Is Driving The Growth Of The Healthcare Analytical Testing Services Market
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.

Competitive Landscape And The Regional Analysis Of The Healthcare Analytical Testing Services Market
Major players in the healthcare analytical testing services market are Laboratory Corporation, Eurofins Scientific SE, Charles River Laboratories International Inc, Pace Analytical Services LLC, WuXi AppTec, 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.

Additionally, as per TBRC’s research – North America was the largest region in the healthcare analytical testing services market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Healthcare Analytical Testing Services Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the healthcare analytical testing services market.

Technological Advancement – A Key Trend In The Healthcare Analytical Testing Services Market
Major market players are creating innovative technologies to sustain their position in the market.

Healthcare Analytical Testing Services Market Segmentation By The Business Research Company

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

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