What This Report Will Provide?
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.
Expected Revenue Growth:
[68 Pages Report] 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.
Major Growth Boosters:
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.
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Target Audience
- Government Agencies
- Nonprofit Organizations
- Analytical Laboratories
- Private Analytical Testing Providers
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. In 2015, the bioanalytical testing segment accounted for the largest share of the analytical laboratory services market, by public health organization. T
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Increasing number of CROs providing HCS services
HCS is used in several stages of the drug discovery process, including primary and secondary screening, target identification and validation and toxicity studies. As HCS instruments are expensive, they add to the overall drug development expense for pharmaceutical and biopharmaceutical companies. Moreover, budgetary restrictions among academic institutes restrict the purchase of these instruments.
Regional Growth Analysis:
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.
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