Analytical Laboratory Services Market- Analysis, Industry Size, Opportunities and Forecast

According to the new market research report "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", published by MarketsandMarkets™, The global analytical laboratory services market, by public health organization is projected to reach USD 333.8 Million by 2021 from USD 202.8 Million in 2016, at a CAGR of around 10.5% during the forecast period.

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The overall market, by public health organization is positively impacted by factors such as the growing expenditure on drugs and medical devices by public health organizations, government initiatives to strengthen analytical testing capabilities, increasing number of drug approvals & 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 support on analytical laboratory services.

Browse and in-depth TOC on "Analytical Laboratory Services Market"

37  - Tables

7 - Figures

68 - Pages

On the basis of type of service, the spend assessment is segmented into eight segments, namely, bioanalytical testing, batch release testing, stability testing, raw material testing, physical characterization, method validation, microbial testing, and environmental monitoring.

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Geographically, the 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. The major share of this region can be attributed to the high expenditure on quality testing, strong regulatory scenario, increasing number of clinical trials, and the well-established federal testing laboratories in the region. Moreover, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. This can be attributed to the fast-growing pharmaceutical industry in this region, increased government expenditure on healthcare, increasing number of highly competitive and extremely fragmented pharmaceutical companies, and increased spending by governments to set up new laboratories in Asian countries.

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The global analytical laboratory services market, by public health organization is projected to reach USD 333.8 Million by 2021 from USD 202.8 Million in 2016, at a CAGR of around 10.5% during the forecast period. The key trends for increase in market, by public health organization are the growing expenditure on drugs and medical devices by public health organizations, steps by the government to build up strong analytical testing abilities, 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 support

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