Healthcare Analytical Testing Services Market

Eurofins Scientific (Luxembourg) and LabCorp (US) are the Key players in the Healthcare Analytical Testing Services Market

The global healthcare analytical testing services market is projected to reach USD 9.8 billion by 2026 from USD 5.6 billion in 2021, at a CAGR of 11.9%. Growth in the market is driven by the growing focus towards the analytical testing of biologics and biosimilars, increasing outsourcing of analytical testing by pharmaceutical companies and increasing acceptance of the QbD approach in pharma research/manufacturing.

The healthcare analytical testing services market exhibited a  dip in the year-on-year growth rate for the first half of 2020 since the COVID-19 outbreak resulted in decreased drug production in many countries. This impacted many segments of the analytical testing market, such as raw material testing and physical characterization services. However, there has been a solid recovery in the market from Q3 2020, fueled by growth in the pharmaceutical industry in response to the COVID-19 pandemic. In this report, the global healthcare analytical testing services market is segmented by type, end user, and region.

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The global healthcare analytical testing services market is fairly fragmented. Prominent players in the healthcare analytical testing services market include Eurofins Scientific (Luxembourg), LabCorp (US), SGS (Switzerland), Charles River Laboratories (US), and WuXi AppTec (China). Companies in the healthcare analytical testing services market adopted strategies such as partnerships, agreements, acquisitions, service launches as well as expansions to enhance their presence in the healthcare analytical testing services market.

Eurofins Scientific (US) is a leading player in the healthcare analytical testing services market and accounted for the largest share of the market in 2020. The company’s services in the healthcare analytical testing services market quality control, manufacturing/process validation, analytical development, microbiology, and other testing for pharmaceutical and biopharmaceutical industries.  In August 2021, Eurofins Scientific acquired a CRO, bioskin GmbH (Germany), to strengthen Eurofins’ leadership position. Similarly, in November 2020, the company acquired Taiyo Techno Research (Japan) to strengthen its market leadership in Japan.

LabCorp (US) is one of the prominent players in the healthcare analytical testing services market. The company operates through two key segments—LabCorp Diagnostics (Dx) and LabCorp Drug Development (DD). Dx is an independent clinical laboratory business, while the DD segment provides end-to-end drug development and medical device & companion diagnostic development solutions from early-stage research to clinical development and commercial market access. The company provides healthcare analytical testing service offerings through its LabCorp Drug Development operating segment. In June 2019, LabCorp’s Covance Drug Development business completed the acquisition of Envigo, a leading provider of research models and services to enhance research support for biopharmaceutical & life sciences industries.

Related Reports:

Healthcare Analytical Testing Services Market by Type (Method Development & Validation, Cell-based Assays, Stability Testing, Heavy Metal Testing, Thermal Analysis, Cleaning Validation), End User (Pharmaceutical Companies, CROs) - Global Forecast to 2026

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Report Code
AST 4341
RI Published ON
9/27/2021
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