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Market Leader - Analytical Laboratory Services Market


The analytical laboratory services market, by public health organization is projected to grow at a CAGR of around 10.5% during the forecast period. The growth in this market can be attributed to a number of factors such as the growing expenditure on drugs and medical devices, expansion of testing laboratories, 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 spending.

In the analytical laboratory services market, by public health organization, the bioanalytical testing segment accounted for the majority of the share in 2015. This is also the fastest growing segment in the analytical laboratory services market, by public health organization. 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 analytical laboratory services market, by public health organization.

Globally, various government agencies spend a significant amount on analytical testing services. In the coming years, the total pharmaceutical expenditure is bound to increase due to constant research for innovative drugs and more precise testing procedures. Moreover, government initiatives to strengthen analytical testing capabilities also remain a key trend in the analytical laboratory services market, by public health organization. The establishment of testing laboratories by the government tends to strengthen the testing capacities to meet the growing demand for quality pharmaceuticals and medical devices.

The increasing number of drug approvals and clinical trials also further propels the analytical laboratory services market, by public health organization. Analytical testing services are required during evaluation of the marketing authorization process. Developed regions such as North America and Europe have strict laws regarding the quality of pharmaceutical products, which are validated before receiving a market approval. Governments in these regions have established infrastructure, allocated budget, and rigid standards for the quality testing services of pharmaceuticals. Similarly, with the advent of more specific targeted therapies, the demand for specialized analytical testing procedures has also risen. Public health organizations conduct inspections in facilities and collect samples to be tested in government laboratories. This ensures quality maintenance and compliance with set standards, thereby driving the analytical laboratory services market, by public health organization.

Related Reports:

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

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