Healthcare Analytical Testing Services Market Size by Type (Biomarker Testing, Stability Testing, Raw Material Testing, Batch-release Testing, Cleaning Validation), End User (Pharmaceutical Companies, Medical Device Companies) & Region - Global Forecast t

Healthcare Analytical Testing Services Market Size by Type (Biomarker Testing, Stability Testing, Raw Material Testing, Batch-release Testing, Cleaning Validation), End User (Pharmaceutical Companies, Medical Device Companies) & Region - Global Forecast to 2029

The Healthcare analytical testing services Market is projected to reach USD 12.6 billion by 2029 from USD 7.4 billion in 2024, at a CAGR of 11.2% during the forecast period. The growth of the healthcare analytical testing services market is fueled by increasing demand across industries for quality assurance and regulatory compliance. Challenges in developing precise analytical techniques provide opportunities for service providers, while government initiatives encourage investment and innovation. These factors drive market expansion globally, alongside trends such as outsourcing due to pricing concerns and the development of innovative medicines. Expansion into new locations also boosts demand for specific tests, further driving the need for healthcare analytical testing services.

“Biohealthcare analytical testing services segment accounted for a substantial share of the healthcare analytical testing services market, by type in 2023.”

The Biohealthcare analytical testing services segment is expected to account for the largest share of 37.1% of the global Healthcare analytical testing services Market in 2023. It is projected to grow at the highest CAGR of 10.7% during the forecast period. The healthcare analytical testing services market is segmented by type into various categories, including bioanalytical testing, physical characterization, method development and validation, stability testing, batch-release testing, raw material testing, microbial testing, genomic services, and environmental monitoring services. In 2023, the biohealthcare analytical testing services segment stood out as the largest, primarily due to its comprehensive offerings tailored to different drug types like vaccines, small molecules, and biologics. This extensive range of services meets the diverse requirements of pharmaceutical and biopharmaceutical companies, thereby driving the segment's substantial market share.

“The cell-based assays segment accounted for the largest share in the healthcare analytical testing services market”

Based on bioanalytical service types type, the market encompasses cell-based assays, virology testing, biomarker testing, immunogenicity and neutralizing antibody testing, pharmacokinetic testing, and other biohealthcare analytical testing services. In 2023, the cell-based assays segment emerged as the market leader. This dominance is attributed to the growing preference for cell-based assays in high-throughput screening, as they offer pertinent in vivo biological insights compared to biochemical assays. This advantage accelerates the drug discovery process, thus contributing to the segment's prominence.

“North America to witness the substantial growth rate during the forecast period.”

North America commands the largest share in the healthcare analytical testing services market, outstripping other regions such as Europe, Asia Pacific, Latin America, and the Middle East & Africa. This dominance is primarily fueled by the burgeoning number of biopharmaceutical and pharmaceutical companies based in the United States. Moreover, the US market benefits from the strong foothold of well-established players, which further propels the market's growth trajectory. The region's advanced infrastructure, supportive regulatory environment, and emphasis on research and development also contribute significantly to its leadership position in the global healthcare analytical testing services market.

The break-down of primary participants is as mentioned below:

By Company Type - Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%

By Designation - C-level: 42%, Director-level: 31%, and Others: 27%

By Region - North America: 32%, Europe: 32%, Asia Pacific: 26%, ROW-10%

Key Players in the Healthcare analytical testing services Market

The prominent players in the global healthcare analytical testing services market include Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), SGS S.A. (Switzerland), Medpace Holdings, Inc. (US), LGC Limited (Cinven) (UK), Parexel International Corporation (US), Celerion (US). Pharmaron (China), BioAgilytix Labs (US), Charles River Laboratories (US), WuXi AppTec Co. Ltd. (China), Element Materials Technology (UK), Thermo Fisher Scientific, Inc. (US), Pace Analytical Services LLC (US), Intertek Group plc (UK), IQVIA Inc. (US), Merck KGaA (Germany), Source BioScience (UK), Almac Group (UK), ICON Plc (Ireland), Frontage Laboratories, Inc. (US), STERIS Plc (US), Sartorius AG (Germany), ALS Life Science (US), and Syneos Health, INC (US).

Research Coverage:

The report analyzes the Healthcare analytical testing services Market and aims to estimate the market size and future growth potential of various market segments, based on type, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:

Analysis of Market Dynamics (Stringent regulatory landscape, growing focus on analytical testing of bilogics and biomilars, rising investments in pharma and biopharma R & D), restraints (Increasing Preassure on market players due to rising cost and market competition), opportunities (Adoption of new technologies, supporting government initiatives), and challenges (increasing need for improvement of sentsitivity of bioanalytical methods)

Services/Innovations: Detailed insights on upcoming technologies, research & development activities, and new service launches in the Healthcare analytical testing services market.

Market Development: Comprehensive information on the lucrative emerging markets, component, demographics , end-user, and region.

Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the healthcare analytical testing services market

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the healthcare analytical testing services market like Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), SGS S.A. (Switzerland), Charles River Laboratories (US), WuXi AppTec Co. Ltd. (China), Element Materials Technology (UK) among others.