The global Outsourced Testing services market size is expected to be worth US$ 36.4 billion in 2022, rising at a 7.7% CAGR to US$ 76.3 billion by 2032. According to a new Future Market Insights analysis, pharma/biopharmaceuticals testing will account for 40.8% of the global market in 2021.
The overall Outsourced Testing services industry has developed as the incidence of infectious and chronic diseases has increased. The number of testing increases in tandem with the prevalence of such disorders. Diseases such as cardiac arrests, diabetes, cancer, stroke, and arthritis have all become more common. These scenarios are at the top of the worldwide death toll.
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As a result of the quick development and high occurrence of specific medical concerns, as well as enhanced patient understanding, testing services are always in demand and increasing in choice.
Furthermore, the market is rapidly expanding as the number of exam service providers increases. Emerging markets such as China and India are also experiencing rapid market growth.
Key Takeaways from Market Study
- Pharma/biopharmaceuticals tests led the market in 2021, accounting for 40.8% of the test segment of the Outsourced Testing services market.
- Contract research firms dominated the market by end user in 2021, accounting for 51.5% of the Outsourced Testing services industry.
“Limited In-house production capability, rising demand for testing and manufacturing services for bulk products and cost-effective of the outsourcing services is set to propel the sales of the Outsourced Testing services market across the globe,” says an analyst of Future Market Insights.
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Market Competition
The Outsourced Testing services market is highly fragmented because of the large number of key players in the market. There is a broad range of products that can be categorized under the Outsourced Testing services market; therefore, it is a broad market. The strategies that are majorly followed by the key players of the Outsourced Testing services market include product launches, expansions, collaborations and partnerships, and mergers and acquisitions.
- Sotera bought BioScience Laboratories, LLC, which had one site in Bozeman, Montana, on March 8, 2021. BioScience is an outsourced topical antimicrobial product testing supplier in the pharmaceutical, medical device, and consumer industries. Nelson Labs’ existing strengths in antimicrobial and virology testing will be supplemented by BioScience’s experience in analytical testing and clinical trial services.
- Labcorp announced the launch of a new integrated bioanalytical laboratory in Singapore during the fourth quarter of 2021, which will increase client access in the Asia-Pacific region.
Key Players:
- Eurofins Scientific
- Sotera Health (Nelson Labs)
- Laboratory Corporation of America Holdings
- Thermo Fisher Scientific Inc.
- IQVIA Inc.
- Elements Group (Element Materials Technology)
- Lucideon Limited
- Canadian Analytical Laboratories Inc.
- Intertek Group plc
- Others
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Key Market Segments Covered in Outsourced Testing services Industry Research
By Test Types:
- Pharma/Biopharmaceuticals
- Clinical Trials Testing
- Bioanalytical Testing
- Biocompatibility & Toxicology Testing
- Extractables & Leachables Testing
- Clinical Stability Testing
- Sterilization Testing
- Facility & Process Validation
- Medical Devices
- Clinical Trials Testing
- Bioanalytical Testing
- Biocompatibility & Toxicology Testing
- Chemical Characterization & Product Stability Testing
- Microbial & Sterility Testing
- Others
- Cosmetics
- Microbiological testing
- Stability testing
- Safety and Toxicological testing
- Performance Testing
- Compatibility testing with packaging
- Others
- Nutraceuticals
- Clinical Trials Testing
- Bioanalytical Testing
- Contamination Testing
- Allergen Testing
- Others
- Food & Beverage Testing
- Analytical Chemistry Testing
- Sensory Testing
- Nutrition Analysis
- Microbiology Testing
By End User:
- Contract Research Organization
- Contract Development and Manufacturing Organization
- Academic and Research Institutes
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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