Analytical Laboratory Services Market | Government Initiatives to Strengthen Analytical Testing Capa

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.

• 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.

What Drives the Market?

1. Growing Expenditure on Drugs and Medical Devices By Public Organizations
2. Government Initiatives to Strengthen Analytical Testing Capabilities
3. Increasing Number of Drug Approvals and Clinical Trials
4. Rising Demand for Specialized Analytical Testing Services

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.

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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. This growth can be attributed to factors such as the usage and development of a large number of macromolecules and Biosimilars for various therapeutic areas and the growing biopharmaceutical industry across the globe.

Target Audience :

• Government Agencies
• Nonprofit Organizations
• Analytical Laboratories
• Private Analytical Testing Providers

Scope of the Report:

The research report categorizes the market, by public health organization into the following segments:

Global Analytical Laboratory Services Market, By Public Health Organization, by Type of Service

• Bioanalytical Testing
• Batch Release Testing
• Stability Testing
• Raw Material Testing
• Physical Characterization
• Method Validation
• Microbial Testing
• Environmental Monitoring

The geographical regions mapped in the report are:

1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World (RoW)

Analytical Laboratory Services 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.

Some key players mentioned in the research report are:

Food and Drug Administration (U.S.), European Medicines Agency (U.K.), Federal Institute for Drugs and Medical Devices (Germany), Agence française de sécurité sanitaire des produits de santé (France), Agenzia Italiana del Farmaco (Italy), the Spanish Medicines and Health Products Agency (Spain), Central Drugs Standard Control Organization (India), China Food and Drug Administration, and Pharmaceuticals and Medical Devices Agency (Japan)

Geographically, the analytical laboratory services 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. Asia-Pacific represented the fastest-growing region for the market, by public health organization, primarily due 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.

The global bioinformatics market is expected to account for Usd 7,063.7 billion in 2018. It is expected to reach Usd 13,901.5 billion by 2023, at a Cagr of 14.5% during the forecast period.