Global Pharmaceutical Analytical Testing Outsourcing Market Size, Share, Trends & Forecast 2019-2025

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Global Pharmaceutical Analytical Testing Outsourcing Market Size, Share, Trends & Forecast 2019-2025

 

 

The global pharmaceutical analytical testing outsourcing market is estimated to have a significant CAGR of over 8% during the forecast period. The increasing pharmaceutical industry coupled with growing pharmaceutical contract manufacturing activities further encourages pharmaceutical analytical testing outsourcing that further contributes to market growth. The key regions in which the pharmaceutical industry expands the business and emerging with the contract manufacturers include Europe, North America, Asia-Pacific, South Korea, Vietnam, Bangladesh. 

Over the years, the demand for drugs and medicines have been increased significantly as well as many pharmaceutical companies conducting the process of drug development and deliver the drug into the market in substantial quantity. In the pharmaceutical industry, various large pharmaceutical companies are forming partnerships with many contract manufacturing organizations. It includes Dishman Pharmaceuticals, Catalent Pharma Solutions, Boehringer Ingelheim Althea Technologies, HAUPT Pharma, Pfizer Central Source and so on.

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Clinical research takes place after preclinical studies. In clinical research, trials are done in the human body. It takes about 7 years for the completion of clinical research. If a drug is proved to be safe and effective for its use by the drug developer from its preclinical and clinical research, a new drug application (NDA) can be filed by the company to market the drug. 

All the submitted data on the drug is examined by the FDA review team and a decision is taken whether to approve the drug or not. A drug developer must include all the important information about the drug in the application including proposed labeling; safety updates; drug abuse information; patent information; and directions for use. Therefore, growing clinical studies in drug development further provide substantial opportunity to market growth. 

A full report of Global Pharmaceutical Analytical Testing Outsourcing Market is available at:  https://www.omrglobal.com/industry-reports/pharmaceutical-analytical-testing-outsourcing-market

Emerging economies likely to account significant contribution to the pharmaceutical analytical testing outsourcing market 

With the increasing healthcare cost in emerging economies such as India and China, healthcare organizations are adopting outsourcing services for increasing productivity and reducing the overall cost of the products. Contract manufacturing plays an important role in reducing the expenses of healthcare businesses. Healthcare organizations can save a considerable amount of money by signing a contract for the manufacturing of their products, which otherwise are carried out by hired in-house employees. 

Medical outsourcing partners consist of the ability to handle a large team of professionals on behalf of the company, thereby enabling to save the company the cost of acquiring additional staff and training facility. Therefore, the increasing outsourcing services in the pharmaceutical industry in various emerging markets such as India, China, and others further provide a significant opportunity to the market.  

Global Pharmaceutical analytical testing outsourcing Market Segmentation

By Product Type

  • API
  • Raw Materials 
  • Finished products

By Services

  • Bioanalytical services 
  • Stability testing 
  • Drug substance 
  • Method development & Validation 
  • Others

By Region 

North America           

  • United States 
  • Canada

Europe

  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia-Pacific    

  • China
  • Japan
  • India
  • Rest of Asia-Pacific

Rest of the World

  • Latin America
  • Middle East and Africa

Company Profiles

  • Boston Analytical
  • Bioanalytical Systems, Inc.
  • Charles River Laboratories International, Inc.
  • CMIC, Inc
  • Cambrex Corp.
  • Covance Inc.
  • Dalton Pharma Services
  • Eurofins GSC Lux SARL
  • Element Materials Technology Group Ltd.
  • ICON plc

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Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

 

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Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com  

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Keywords: size,share,industry growth,future prospects,opportunities,forecast 2019-2025

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