The healthcare analytical testing services market is estimated to touch USD 7,240.1 million in 2023, and it will increase to USD 15,390.5 million, with an 11.5% CAGR, by 2030.
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The progression of this industry is mainly because of the increasing count of subcontracting activities of analytical testing services by numerous pharmaceutical businesses.
Furthermore, the rising count of clinical trials that comprise analytical testing, the growing focus on biosimilars, and the surging demand for therapeutics & drugs are also boosting the industry growth.
Healthcare analytical testing services are highly employed in different healthcare establishments, including biopharmaceutical, medical device producers, and pharmaceutical, to assist the procedures of drug discovery as well as development.
North America is leading the industry in 2023, with a 50% share. This can be because of the existence of major manufacturers providing high-end pharmaceutical materials and testing tools, coupled with the advancement in technology in this continent.
APAC is likely to propel at approximately 12.0% CAGR during this decade. This is because of the rising expenses in R&D activities by various companies as well as the increasing emphasis on enhancing healthcare infrastructure.
Moreover, the increasing launches of different novel technologies in this region are also assisting the industry expansion.
With the rising focus on the analytical testing of biosimilars and biologics, the healthcare analytical testing services industry will continuously grow in the coming years.
