Healthcare Analytical Testing Services Market Size, Share, And Growth Report 2032

Healthcare Analytical Testing Services Market Size

The global healthcare analytical testing services market size was worth around USD 8.04 billion in 2023 and is predicted to grow to around USD 20.73 billion by 2032 with a compound annual growth rate (CAGR) of roughly 11.1% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the healthcare analytical testing services market on a global and regional level.

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Global Healthcare Analytical Testing Services Market: Overview

Healthcare analytical testing services encompass a wide range of laboratory testing and analytical procedures aimed at ensuring the quality, safety, and efficacy of healthcare products and services. These services include the testing of pharmaceuticals, biologics, medical devices, and environmental samples to comply with regulatory standards and support clinical research. Analytical testing services employ various techniques such as chromatography, mass spectrometry, molecular biology, and microbiology to analyze chemical composition, purity, potency, stability, and contaminants. The primary goal is to support the development, manufacturing, and approval processes in the healthcare industry, ensuring that products meet stringent quality and safety standards.

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Healthcare Analytical Testing Services Market: Growth Factors

Worldwide demand for healthcare analytical testing services is growing at a rapid pace. Global demand for healthcare analytical testing services is expected to be driven by increasing demand by pharmaceutical companies, companies providing healthcare analytical services, a large number of services outsourced by biopharmaceutical companies, and high demand of tests required for biosimilar compounds and biologics. The growth in the implementation of FTE contracts in R&D and outsourcing is expected to be the major factor attributing to the growth of healthcare analytical testing services market. However, lack of trained and technically sound professionals may act as a restraint for healthcare analytical testing services market growth. Emerging countries are expected to bring new growth avenues for healthcare analytical testing services manufacturers.

Healthcare Analytical Testing Services Market: Segmentation

Based on type, the market is segmented into raw materials, method validation, bioanalytical services, microbial testing, environmental monitoring and stability. Among the type segment, bioanalytical testing held the largest market share in 2023 due to the growth of the pharmaceutical industry and large number of drugs produced regularly. 

Medical device companies, pharmaceutical industries, and CRO are the various end users in this market. Pharmaceutical industries are the major end user segment which dominated the market in terms of revenue in 2023 owing to large patient pool and intense outsourcing of analytical testing services done to reduce costs and time.

Healthcare Analytical Testing Services Market: Report Scope

Healthcare Analytical Testing Services Market: Regional Analysis

North America dominated the global healthcare analytical testing services market. North America region is projected to continue its dominance in the forecast period with progress mostly focused in the U.S. market. The rising number of companies heavily investing in outsourcing of services of analytical testing, the growing number of biopharmaceutical companies in the market, the rising health expenditure by patients, and high disposable income of people has resulted in the growth of the American market. Europe was the second largest healthcare analytical testing services market in 2023 globally. The growth of the pharmaceutical industry, high emphasis placed on R&D, large number of companies providing analytical testing services, advanced technologies in the generics and biosimilars market are the major factors driving the demand for healthcare analytical testing services in Europe. Asia Pacific is estimated to be growing at the highest CAGR over the forecast period. This high growth is attributable to the rising health expenditure, increased government spendings for healthcare analytics and infrastructure, and the growing demand of biotechnological companies emerging in this sector.

Healthcare Analytical Testing Services Market: Competitive Players

Some of the key players in healthcare analytical testing services market include:

• PPD
• Almac Group
• Wuxi PharmaTech
• Anabiotec
• Intertek Group
• Exova Group
• Anabiotec
• Labcorp
• Source BioScience
• Charles River Laboratories

The Global Healthcare Analytical Testing Services Market is segmented as follows:

Global Healthcare Analytical Testing Services Market: Type Segment Analysis

• Raw Materials.
• Method Validation
• Bioanalytical Services
• Microbial Testing
• Environmental Monitoring
• Stability

Global Healthcare Analytical Testing Services Market: End-User Segment Analysis

• Medical Device Companies
• Pharmaceutical industries
• CRO
• Other End Users

Global Healthcare Analytical Testing Services Market: Regional Segment Analysis 

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa