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  • Published In : Jun 2024
  • Code : CMI5383
  • Pages :173
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

Regional Analysis

Pharmaceutical Analytical Testing Market Regional Insights

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North America has established itself as the dominant region in the global pharmaceutical analytical testing market with the highest share of 40.2%. The U.S., in particular, accounts for the largest share due to a presence of many major pharmaceutical companies and contract research organizations in the country. Also supporting the market growth is the well-established regulatory guidelines mandating quality control and stringent analytical testing of drugs. This ensures pharmaceutical companies dedicate sizable investments in developing state-of-the-art testing infrastructure and hiring top analytical chemists and scientists. Furthermore, the U.S. FDA regularly inspects pharmaceutical manufacturing facilities and approves new drug applications based on comprehensive analytical reports. This has made pharmaceutical analytical testing a significant part of the drug development and approval process.

The Asia Pacific region has emerged as the fastest growing market for pharmaceutical analytical testing over the past decade. Countries such as India, China, Japan, and South Korea have become global manufacturing hubs for pharmaceutical formulations as well as active pharmaceutical ingredients. This has led to a robust demand for outsourced analytical testing services from both domestic as well as multinational drug companies. The region also attracts considerable investments from major pharmaceutical firms seeking to establish local manufacturing bases and R&D centers. This helps generate additional requirement for analytical methodology development, validation testing services, and routine quality control support. The regulatory mandates across Asia Pacific nations are also progressively becoming more stringent. This translates to higher compliance standards for manufactures and increased dependency on analytical testing providers. The large talent pool of analytical chemists and relatively lower operating costs in some Asia Pacific countries are additional factors driving growth. Lower pricing for testing services allows pharmaceutical companies to gain competitive advantage.

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