Analytical testing is a broad term used to describe various techniques that are used to identify the chemical makeup or characteristics of the particular sample. Pharmaceutical analytical testing play an important role in the biopharmaceutical manufacturing. The biopharmaceutical industry uses analytical testing to improve productivity, characterize biologics/biosimilars, optimize & monitor processes, and provide real-time product quality control. Thus, there is an increase in demand for pharmaceutical analytical testing services/solutions worldwide.
Market Statistics:
The Global Pharmaceutical Analytical Testing Market is estimated to account for US$ 7694.6 Mn in terms of value by the end of 2022.
Drivers:
Increase in demand for pharmaceutical analytical testing across the globe is expected to propel the growth of the pharmaceutical analytical testing market during the forecast period. For instance, analytical testing is majorly used in pharmaceutical and biopharmaceutical companies for a series of applications. In November 2021, Portreet Pharmaceuticals launched a new lab that specializes in the analytical testing of small molecule active pharmaceutical ingredients, targeting customers that range from virtual pharmaceutical companies to the biotechnology startups. Portreet will offer clients quick and cost-effective turn-around on both testing and method development.
Opportunities:
Increase in number of drug approvals and clinical trials worldwide is expected to offer significant growth opportunities for players in the global pharmaceutical analytical testing market. Analytical testing is a vital part of drug development and manufacturing, from route design and optimization through clinical trials and ultimately to the finished product. Analytical method development and validation is tremendously important for any drug development program. According to the World Health Organization (WHO), the United States of America had the highest total number of trials registered during 1999-2021 (157,618), followed by China (80,333) and Japan (57,754).
Restraints:
Complex regulatory framework for maintaining laboratories and challenges in the development of proper analytical techniques are some major factors expected to hamper the growth of the global pharmaceutical analytical testing market. For instance, each country has its own regulations which apply to innovation, manufacturing, drug testing, marketing, post marketing studies, among others. Pre-market approval is an FDA process of scientific and regulatory review to evaluate the safety and effectiveness of laboratory devices by the FDA 21 CFR. Thus, stringent regulations associated with the testing of pharmaceuticals are expected to hamper the growth of the market.
Global Pharmaceutical Analytical Testing Market - Impact of Coronavirus (Covid-19) Pandemic
Outbreak of COVID-19 had had a positive impact on the pharmaceutical analytical testing market due to increase in development of new drugs and vaccines to control the spread of the virus. The pandemic has increased the demand for analytical testing because analytical testing is required at all stages of drug development to monitor safety, accuracy, and efficiency. According to the WHO, as of April 2022, around 349 vaccines were being developed, which in turn increased the demand for analytical testing services for COVID-19 vaccines under clinical trials. For instance, Eurofins Scientific supported the testing of Ad26.COV2.S, an investigational COVID-19 vaccine candidate by Johnson & Johnson. This in turn is driving the growth of the market.
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Key Takeaways:
The global pharmaceutical analytical testing market was valued at US$ 7137.91 Mn in 2021 and is forecast to reach a value of US$ 12352.3 Mn by 2028 at a CAGR of 8.2% between 2021 and 2028.
Among, service type, bioanalytical testing segment held dominant position in the global pharmaceutical analytical testing market in 2022, accounting for 32.3% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
Analytical services and technologies play important role in the biopharmaceutical manufacturing. Analytical testing is a critical part of drug development and manufacturing, from route design and optimization through clinical trials and to a finished product. With the increase in development of new drugs and formulations, as well as increase in number of clinical trials, demand for analytical testing services and solutions is also increasing rapidly. This trend is expected to continue over the forecast period, driving the growth of the market.
Competitive Landscape:
Major players operating in the global pharmaceutical analytical testing market include Steris PLC, West Pharmaceutical Services Inc., Boston Analytical, Intertek Pharmaceutical Services, Pace Analytical Services, Labcorp (Toxikon Inc.), SGS SA, Eurofins Scientific, and Laboratory Testing Inc., among others.
Recent Developments:
In February 2022, Labcorp announced the opening of a new diagnostics laboratory in South Bend, Indiana, allowing the company to enhance service levels and offerings to patients and physicians in South Bend and throughout the region.
In October 2021, SGS announced that the expansion of its bioanalytical laboratory in Poitiers, France is complete, with the addition of a new 800-meter square building to meet the growing global demand for bioanalytical testing services to support drug development.
In December 2021, SGS SA announced the completion of acquisition of Quay Pharmaceuticals Limited (Quay Pharma), a provider of innovative, formulation research and development services for the global biopharmaceutical sector.
