Asia-Pacific Analytical Laboratory Services Market, By 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, Clinics-Based Laboratories), Method Type (Cell-Based Assays, Virology Testing, Biomarker Testing, Pharmacokinetic Testing, Immunogenicity, Serology), Application (Oncology, Neurology, Infectious disease, Gastroenterology, Cardiology, 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, Others) - Industry Trends and Forecast to 2030.
Asia-Pacific Analytical Laboratory Services Market Analysis and Size
A number of analytical services are provided in the market, such as bioanalytical testing, raw material testing, batch release testing, product validation, physical characterization and others. These services are widely employed in the healthcare sector, including pharmaceutical companies, biopharmaceutical companies and medical device companies. These services provide a reliable source for accuracy, quality and efficiency. They have applications in areas such as oncology, neurology, infectious diseases, cardiology and others. The analytical laboratory services market is growing with the rise in government initiatives to strengthen analytical testing capabilities and the growing number of drug approvals and clinical trials. Moreover, rising usage and development of a large number of macromolecules and biosimilar for various therapeutic areas and increased spending by governments to set up new laboratories are other factors accelerating the laboratory services market growth.
Data Bridge Market Research analyses that the Asia-Pacific analytical laboratory services market which was USD 333.80 million in 2022, will reach USD 402.80 million by 2030, and is expected to undergo a CAGR of 10.5% during the forecast period 2023 to 2030. 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.
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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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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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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By 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, Clinics-Based Laboratories), Method Type (Cell-Based Assays, Virology Testing, Biomarker Testing, Pharmacokinetic Testing, Immunogenicity, Serology), Application (Oncology, Neurology, Infectious disease, Gastroenterology, Cardiology, 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, Others)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific
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Market Players Covered
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WuXiAppTec (China), Eurofins Scientific (U.S.), SGS SA (Switzerland), Covance (A Subsidiary of Laboratory Corporation of America Holdings) (U.S.), Intertek Group plc (U.K.), Charles River Laboratories (U.S.), ICON plc (Ireland), Medpace (U.S.), Q2 Solutions (a subsidiary of IQVIA) (U.S.), Syneos Health (U.S.), Frontage Labs (U.S.), TOXIKON (U.S.), ALS Limited (Australia), Evotec SE (Germany), Shanghai Medicilon Inc. (China), PPD Inc. (a subsidiary of Thermo Fisher Scientific Inc.) (U.S.)
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Market Opportunities
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Market Definition
Analytical laboratory services are concerned with a wide range of chemical and microbiological assays. Analytical laboratory services include method development and validation, sample analysis for concentration confirmation, purity, homogeneity, and stability assays on preliminary formulations and finalized drug products for IND, NDA, and ANDA submissions. Analytical services, also referred to as "materials testing," is used to describe various techniques used to identify the chemical makeup or characteristics of a particular sample. Manufacturers in industries such as pharmaceuticals, food, electronics, and plastics often use analytical testing for reverse engineering or failure analysis and identifying contaminants or stains on products.
Analytical Laboratory Services Market Dynamics
Drivers
- Growing pharmaceutical and biotechnology industry
The pharmaceutical and biotechnology sectors are expanding rapidly in the Asia-Pacific region. These industries require rigorous testing and analysis for drug development, quality control, and research, driving the demand for analytical laboratory services.
- Government initiatives to strengthen analytical testing capabilities
Government funding and initiative to expand the analytical services will help the market grow and increase the market players in the forecast period. This is expected to increase the market size and act as a driver for the growth of the Asia-Pacific analytical laboratory services market in the forecast period.
Opportunities
- Rising technological advancements
The development and adoption of advanced analytical technologies can set laboratories apart from their competitors. Opportunities exist in investing in cutting-edge equipment and offering innovative testing methods.
- Increasing healthcare expenditure
Expanding healthcare infrastructure, including the construction of new hospitals and clinics, drives the need for laboratories to support diagnostic and testing services. Laboratories can form partnerships with healthcare institutions to establish on-site or nearby testing facilities.
Restraints
- Strict regulations and guidelines
Asia-Pacific countries often have varying and complex regulatory environments. Laboratories must navigate multiple sets of regulations, which can be time-consuming and costly. Staying updated with evolving regulatory requirements is essential.
- Data security and privacy
The handling of sensitive health and personal data is a concern, with the potential for data breaches and privacy issues. Laboratories must invest in robust cybersecurity measures and comply with data protection regulations.
Challenge
- Limited reimbursement scenario
There is a shortage of skilled laboratory technicians and scientists, especially in specialized fields. Attracting and retaining qualified personnel can be a significant challenge. Analytical laboratory services often require highly specialized skills in areas like clinical diagnostics, molecular biology, chemistry, and environmental testing. Finding professionals with the necessary expertise can be challenging. In some cases, there's an aging workforce in the laboratory services industry. As experienced professionals retire, it can be difficult to find qualified replacements.
This analytical laboratory services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the analytical laboratory services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In February 2021, Eurofins Scientific announced that they had acquired Beacon Discovery, preeminent drug discovery and contract research organization (CRO). This will increase the company's access to contract research and will increase its revenue for the company.
Asia-Pacific Analytical Laboratory Services Market Scope
Asia-Pacific analytical laboratory services market is segmented on the basis of test type, service type, method type, application, technology, and end user channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Test Type
- Bioanalytical Testing
- Batch Release Testing
- Method Validation
- Raw Material Testing
- Microbial Testing
- Physical Characterization
- Stability Testing
- Environmental Monitoring
Service Type
- Hospital-Based Laboratories
- Stand-Alone Laboratories
- Clinics-Based Laboratories
Method Type
- Pharmacokinetic Testing
- Biomarker Testing
- Virology Testing
- Cell-Based Assays
- Immunogenicity
- Serology
Application
- Oncology
- Neurology
- Infectious Diseases
- Cardiology
- Gastroenterology
- Others
Technology
- Mass Spectroscopy
- Immunochemistry
- UPLC Technology
- Turbulent Flow Technology
- Others
End-User Channel
- Pharmaceutical and Biopharmaceutical Companies
- Contract Development and Manufacturing Organizations
- Contract Research Organizations
- Others
Asia-Pacific Analytical Laboratory Services Market Regional Analysis/Insights
The analytical laboratory services market is analyzed, and market size insights and trends are provided by country, test type, service type, method type, application, technology, and end user channel, as referenced above.
Asia-Pacific analytical laboratory services market covers countries such as China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific.
China is expected to dominate in the Asia-Pacific analytical laboratory services market due to factors such as the fast-growing pharmaceutical industry, increased government expenditure on healthcare, and an increasing number of highly competitive and extremely fragmented pharmaceutical companies.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Analytical Laboratory Services market Share Analysis
The analytical laboratory services market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, presence, production sites and facilities, production capacities, company strengths and weaknesses, solution launch, product width and breadth, and application dominance. The above data points are only related to the companies focus on the analytical laboratory services market.
Some of the major players operating in the analytical laboratory services market are:
- WuXiAppTec (China)
- Eurofins Scientific (U.S.)
- SGS SA (Switzerland)
- Covance (A Subsidiary of Laboratory Corporation of America Holdings) (U.S.)
- Intertek Group plc (U.K.)
- Charles River Laboratories (U.S.)
- ICON plc (Ireland)
- Medpace (U.S.)
- Q2 Solutions (a subsidiary of IQVIA) (U.S.)
- Syneos Health (U.S.)
- Frontage Labs (U.S.)
- TOXIKON (U.S.)
- ALS Limited (Australia)
- Evotec SE (Germany)
- Shanghai Medicilon Inc. (China)
- PPD Inc. (a subsidiary of Thermo Fisher Scientific Inc.) (U.S.)
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