The analytical laboratory services market offers a variety of analytical services, including physical characterization, product validation, raw material testing, batch release testing, bioanalytical testing, and others. Pharmaceutical, biopharmaceutical, and medical device companies all use these services extensively in the healthcare industry. These services offer a trustworthy source for precision, excellence, and effectiveness. They have uses in oncology, neurology, infectious diseases, cardiology, and other disciplines. With the increase in government initiatives to improve analytical testing capabilities and the rising number of drug approvals and clinical trials, the market for analytical laboratory services worldwide is expanding. A growing number of macromolecules and biosimilars are also being developed and used for a variety of therapeutic purposes, and governments are spending more money to establish new laboratories.
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Data Bridge Market Research analyses that the Analytical Laboratory Services Market is expected to reach USD 15,746.84 million by 2029, at a CAGR of 14.7% during the forecast period. The growing need for specialized expertise and advanced analytical techniques has led to a rise in outsourcing laboratory services. Organizations are leveraging analytical laboratory services to access cutting-edge technology and scientific knowledge without investing in expensive equipment and personnel.
Growing focus on precision medicine is expected to drive the market's growth rate
The growing focus on precision medicine has led to an increased demand for advanced analytical laboratory services. Precision medicine aims to provide personalized treatment options based on an individual's genetic makeup. Analytical laboratory services play a crucial role in this field by conducting molecular diagnostics and genetic testing. These services analyze genetic and biomarker data to identify specific genetic variations, guide treatment decisions, and improve patient outcomes through tailored therapies, driving the demand for these specialized services.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Test Type (Bioanalytical Testing, Batch Release Testing, Stability Testing, Raw Material Testing, Physical Characterization, Method Validation, Microbial Testing, Environmental Monitoring), Service Type (Hospital-Based Laboratories, Stand-Alone Laboratories and Clinics-Based Laboratories), Method Type (Cell-Based Assays, Virology Testing, Biomarker Testing, Pharmacokinetic Testing, Immunogenicity and Serology), Application (Oncology, Neurology, Infectious disease, Gastroenterology, Cardiology and Other Applications), Technology (Mass Spectroscopy (LC-MS/MS), Immunochemistry, UPLC Technology, Turbulent Flow Technology, Others), End User Channel (Pharmaceutical and Biopharmaceutical Companies, Contract Development and Manufacturing Organizations, Contract Research Organizations and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Charles River Laboratories (U.S.), Medpace (U.S.), Wuxi AppTec (China), Eurofins Scientific (Luxembourg), Q2 Solutions (a subsidiary of IQVIA, U.S.), SGS SA (Switzerland), SOLVIAS AG (Switzerland), Covance (a subsidiary of Laboratory Corporation of America Holdings, (U.S.), Intertek Group plc (U.K.), Pharmaceutical Research Associates Inc. (U.S.), Syneos Health (U.S.), ICON plc (Ireland), Frontage labs (U.S.), Laboratory Corporation of American Holdings (U.S.), TOXIKON (U.S.), PRA Health Sciences (U.S.), Bioscreen testing services (Australia), VxP Pharma, Inc. (U.S.), PPD Inc. (a subsidiary of Thermo Fisher Scientific Inc., U.S.), ALS Limited (Australia), Shanghai Medicilon inc. (China), Evotec SE (Germany), BioAgilytix Labs (U.S.), and Pace Analytical Services, LLC (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The analytical laboratory services market is segmented on the basis of test type, service type, method type, application, technology and end user channel.
- On the basis of test type, the global analytical laboratory services market is segmented into bioanalytical testing, batch release testing, stability testing, raw material testing, physical characterization, method validation, microbial testing, and environmental monitoring. Bioanalytical testing segment is expected to dominate the market with a CAGR of 15.0 %in the forecast period of 2022 to 2029 due to diversified areas of expertise, which enables the development of drugs in various geographies and for different therapeutic areas.
In 2022, bioanalytical testing segment is expected to dominate the test type segment of analytical laboratory services market
In 2022, bioanalytical testing segment is expected to dominate the market owing to diversified areas of expertise, which enables the development of drugs in various geographies and for different therapeutic areas with a CAGR of 15.0 %in the forecast period of 2022 to 2029
- On the basis of service type, global analytical laboratory services market is segmented into hospital-based laboratories, stand-alone laboratories, and clinics-based laboratories. Stand-alone laboratories segment is expected to dominate the market with a CAGR of 14.5% in the forecast period of 2022 to 2029 due to the high turnaround number of patients’ tests, majorly for complex and severe disease conditions that are relatively more cost-intensive.
- On the basis of method type, the global analytical laboratory services market is segmented into cell-based assays, virology testing, method serology, immunogenicity, biomarker testing, and pharmacokinetic testing. Biomarker testing segment is expected to dominate the market with a CAGR of 14.7% in the forecast period of 2022 to 2029 due to the advantages of biomarkers in drug development, rise in adoption of early toxicity testing, and increase in genome mapping programs.
- On the basis of application, the global analytical laboratory services market is segmented into oncology, neurology, infectious diseases, gastroenterology, cardiology, and other applications. Infectious disease segment is expected to dominate the market with a CAGR of 14.5% in the forecast period of 2022 to 2029 due to the growing prevalence of targeted disease, rising health awareness, and escalating consumption of the anti-microbial direct-acting drug.
- On the basis of technology, the global analytical laboratory services market is segmented into mass spectroscopy, immunochemistry, UPLC technology, turbulent flow technology, and others. Mass spectroscopy segment is expected to dominate the market with a CAGR of 15.1% in the forecast period of 2022 to 2029 due to the capacity to study numerous molecules regardless of whether they form the same structural family or not and highlight the specific metabolites of a disease.
In 2022, mass spectroscopy segment is expected to dominate the global analytical laboratory services market
In 2022, mass spectroscopy segment is expected to dominate the market owing to the capacity to study numerous molecules regardless of whether they form the same structural family or not and highlight the specific metabolites of a disease with a CAGR of 15.1% in the forecast period of 2022 to 2029 due to
- On the basis of end user channel, the global analytical laboratory services market is segmented into pharmaceutical and biopharmaceutical industries, contract development and manufacturing organizations, contract research organizations, and others. Pharmaceutical and biopharmaceutical companies segment is expected to dominate the market with a CAGR of 15.3% in the forecast period of 2022 to 2029 due to the immense amount of analytical testing required to support a product from discovery, development, and clinical trials, through manufacturing and marketing.
Major Players
Data Bridge Market Research recognizes the following companies as the major analytical laboratory services market players in analytical laboratory services market are Charles River Laboratories (U.S.), Medpace (U.S.), Wuxi AppTec (China), Eurofins Scientific (Luxembourg), Q2 Solutions (a subsidiary of IQVIA, U.S.), SGS SA (Switzerland), SOLVIAS AG (Switzerland), Covance (a subsidiary of Laboratory Corporation of America Holdings, (U.S.), Intertek Group plc (U.K.), Pharmaceutical Research Associates Inc. (U.S.),
Market Development
- In 2021, Beacon Discovery, a leading contract research organization (CRO) for drug discovery, was acquired, according to Eurofins Scientific. As a result, the company will have greater access to contract research and generate more revenue.
- In 2021, Announcing the acquisition of the top European environmental, food, and health sciences testing and tribology services provider, SGS SA changed the name of SYNLAB Analytics and Services to SGS Analytics. By assisting businesses to comply with ever-increasing regulations designed to ensure food, pharmaceutical, and environmental safety, the acquisition will continue growth and innovation.
- In 2020, WuXi AppTec announced that they had expanded their business to Philadelphia, offering end-to-end contract services for the cell and gene therapies industry. The expansion of the facility will triple the analytical laboratories services and CRO and contribute to the company's revenue
- In 2019, BioAgilytix Labs announced that it has acquired Cambridge Biomedical, a CRO based in Boston, MA. This acquisition done by the company has strengthened its service portfolio leading to increased sales and demand in future
Regional Analysis
Geographically, the countries covered in the analytical laboratory services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is expected to dominate in analytical laboratory services market during the forecast period 2022-2029
North America is expected to dominate the analytical laboratory services market due to several factors. The region's high expenditure on quality testing, stringent regulatory frameworks, and a growing number of clinical trials contribute to its market dominance. Additionally, the presence of well-established federal testing laboratories and continuous development of advanced laboratory facilities in the U.S. further strengthens its position in the North American market for analytical laboratory services.
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