The global analytical laboratory services market,
by public health organization is projected to reach USD 333.8 Million by 2021
from USD 202.8 Million in 2016, at a CAGR of around 10.5% during the forecast
period. The key trends for increase in market, by public health organization
are the growing expenditure on drugs and medical devices by public health
organizations, steps by the government to build up strong analytical testing
abilities, increasing number of drug approvals and clinical trials, and rising
demand for specialized analytical testing services. However, complex and innovative
pharmaceutical products requiring a distinctive analytical testing approach is
the major challenge hampering the growth of government support.
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On the basis of type of service, the spend assessment is
segmented into eight segments, namely, bioanalytical testing, batch release
testing, stability testing, raw material testing, physical characterization,
method validation, microbial testing, and environmental monitoring. In 2015,
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 global analytical laboratory services market, by public
health organization is in the growing phase and characterized by the
involvement of government agencies. The major public health organizations
spending in analytical laboratory services include the Food and Drug
Administration (U.S.), European Medicines Agency (U.K.), Federal Institute for
Drugs and Medical Devices (Germany), Agence française de sécurité sanitaire des
produits de santé (France), Agenzia Italiana del Farmaco (Italy), the Spanish
Medicines and Health Products Agency (Spain), Central Drugs Standard Control
Organization (India), China Food and Drug Administration, and Pharmaceuticals
and Medical Devices Agency (Japan).
The spending on batch release testing services is expected
to account for 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.
Geographically, the analytical laboratory services market,
by public health organization is segmented into North America, Europe,
Asia-Pacific, and the Rest of the World (RoW). In 2015, North America commanded
the largest share, followed by Europe, Asia-Pacific, and the RoW. Asia-Pacific
represented the fastest-growing region for the market, by public health
organization, primarily due 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.
What Drives the Market?
1. Growing Expenditure on Drugs and Medical Devices By
Public Organizations
2. Government Initiatives to Strengthen Analytical Testing
Capabilities
3. Increasing Number of Drug Approvals and Clinical Trials
4. Rising Demand for Specialized Analytical Testing Services
The key trends for increase in market, by public health
organization are the growing expenditure on drugs and medical devices by public
health organizations, steps by the government to build up strong analytical
testing abilities, increasing number of drug approvals and clinical trials, and
rising demand for specialized analytical testing services.
Some key players mentioned in the research report are:
Food and Drug Administration (U.S.), European Medicines Agency (U.K.), Federal Institute for Drugs and Medical Devices (Germany), Agence française de sécurité sanitaire des produits de santé (France), Agenzia Italiana del Farmaco (Italy), the Spanish Medicines and Health Products Agency (Spain), Central Drugs Standard Control Organization (India), China Food and Drug Administration, and Pharmaceuticals and Medical Devices Agency (Japan).