Analytical Laboratory Services Market by Public Health Organization, - by types of services (Stability, Raw Material, Physical Characterization, Method Validation, Microbial Testing, Environmental Monitoring, Bioanalytical Testing) - Forecast to 2021
The global analytical laboratory services market, by public health organization is projected to reach USD XXX million by 2021, growing at a CAGR of around XX% during the forecast period. Growth in the market can be attributed to a number of factors such as the growing expenditure on drugs and medical devices by public health organizations, increasing number of drug approvals and clinical trials, and rising demand for specialized analytical laboratory services.
However, complex and innovative pharmaceutical products requiring a distinctive analytical testing approach is the major challenge hampering the growth of government support.
The analytical laboratory services market, by public health organization in this report is segmented by service type. In 2016, the bioanalytical testing segment accounted for the largest share of the analytical laboratory services market, by public health organization.
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 batch release testing services segment has the second largest share during the forecast period.
The growth can be attributed to the need for checking and validating the process for product development among pharmaceutical & biopharmaceutical companies and the increasing usage of dissolution test in the development and approval of generic solid oral dosage forms.
This Analytical Laboratory Services market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors.
Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
In 2016, North America accounted for the largest share in the global analytical laboratory services market, by public health organization, followed by Europe, Asia-Pacific, and the RoW. Growth in the North American region is largely driven by the high expenditure on quality testing, strong regulatory scenario, increasing number of clinical trials, and the well-established federal testing laboratories in the region.
Asia-Pacific is expected to grow at a higher CAGR during the forecast period as compared to North America and Europe. This can be attributed 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.
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