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The global Pharmaceutical Analytical Testing Outsourcing Market size is expected to reach USD 14.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.4% from 2022 to 2030. Increasing biological candidate pipelines, rising demand for additional analytical details on drugs, and process development by regulatory agencies are driving the market growth. Analytical testing aids in real-time product quality control as well as helps optimize and monitor processes, thereby identifying different drugs. Over the years, the number of clinical trials has increased consistently.

For instance, in 2021, over 399,525 clinical studies were registered on ClinicalTrial.gov, whereas as of June 2022, it had increased to over 421,258 studies. A continuation of this trend is expected to have a positive impact on the market in the post-pandemic period. The majority of small and medium-sized pharma companies lack the infrastructure for analytical testing. As a result, outsourcing these operations is the best option as it saves time and money. The patent cliff, primarily for small molecules and biologics, is likely to have a positive impact on the market as it will increase the number of commercial drugs in the pharma market, thus promoting the analytical testing of commercially available generic drugs.

There has been a rise in several diseases post-COVID-19. For instance, according to a report published by Children’s National Hospital- pediatric research and clinical innovations center, a study was performed on 737 youths who were diagnosed with diabetes, and it found an increased incidence of pediatric Type 1 Diabetes (T1D) by 15.2% and Type 2 Diabetes (T2D) increased by 182% between March 11, 2018, and March 10, 2021. The rise in disease incidence is expected to improve, drug production, which is likely to drive the demand for analytical services for commercial drugs.

Related Press Release@ Pharmaceutical Analytical Testing Outsourcing Market Report

Pharmaceutical Analytical Testing Outsourcing Market Report Highlights

• The bioanalytical testing segment is expected to witness the fastest CAGR of 8.9% over the forecast due to the high number of clinical trial registrations and entry of new drug participants into the pharmaceutical market
• The pharmaceutical segment gained the largest revenue share of 47.4% in 2021. The growing demand among pharmaceutical companies to focus on their core competencies is one of the major reasons for the largest segment share
• North America is expected to hold the largest revenue share of 53.7% owing to the presence of a significant number of pharmaceutical companies in the region
• Asia Pacific is anticipated to be the fastest-growing regional market from 2022 to 2030 due to the low-cost service offerings by the third-party service providers in the region