An Insight into Pharmaceutical Analytical Testing Services' Market

Pharmaceutical companies' increasing need for core competency development and cost reduction and rising acceptance of outsourcing as a key business and growth strategy are driving the global market for pharmaceutical analytical testing services.

FREMONT, CA: Pharmaceutical analytical testing services are provided to various pharmaceutical companies, product manufacturers, and raw material suppliers. Pharmaceutical' firms need for increased productivity and cost reduction has led to a rise in the scope for outsourcing analytical testing services. There are currently several companies specializing in pharmaceutical manufacture and development services, like manufacturing and packaging, pharmaceutical development, analytical testing services, and pharma solutions.

Method development/method validation, raw material testing, residual solvents, stability testing and storage, retrospective method validation, dissolution, and extractable or leachable testing are just a few of the pharmaceutical analytical testing services available. The revenue generated by different analytical testing services, including raw material testing, stability testing, and method validation and testing, has been used to analyze the market for pharmaceutical analytical testing services. One report examines trends in analytical services in four central regions: North America, Asia Pacific, Europe, and the Rest of the World (Row).

Market Drivers and Restraints for Pharmaceutical Analytical Testing Services

Pharmaceutical companies' increasing need for core competency development and cost reduction and rising acceptance of outsourcing as a key business and growth strategy are driving the global market for pharmaceutical analytical testing services. 

According to research, pharmaceutical and biotechnological firms spent an estimated190 million dollars on in-house analytical growth in 2012, compared to 664 million dollars on outsourcing analytical testing services. This is likely to boost the market's growth in the coming years.

On the other hand, a scarcity of qualified professionals and a well-established healthcare infrastructure are two considerations that could hamper the pharmaceutical analytical testing services market's expansion. Besides that, market growth is influenced by operational costs, fluctuations in Good Manufacturing Practices (GMP), regulatory policies, and shorter turnaround times.

Regional Outlook

North America is one of the most important regions in the pharmaceutical analytical testing services market due to familiarity with the regulatory framework and the presence of well-established outsourcing infrastructure. Experts have noted that the European pharmaceutical analytical testing services market's growth landscape is slowly catching up. Because of a large pool of skilled professionals and relatively low operational costs, Asia Pacific countries have substantial growth potential. Rising research expenditures are also propelling the APAC pharmaceutical analytical testing services market. Over the forecast period, investments in routine tests, multiplex protein profiling, biologics such as RNA sequencing, and others are likely to give the Asia Pacific the boost it requires.