Pharmaceutical Analytical Testing Outsourcing
Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2017 - 2025
The practice wherein a company transfers a portion of its work to an outside
supplier to cut costs is referred to as outsourcing. It is said to be a cost-saving
strategy observed by several companies. In pharmaceutical industries, in-house
laboratory testing might be an expensive affair. Some resources might also be
unavailable. Therefore, outsourcing is an excellent way that could be employed to
deal with these issues. Analytical testing is an important step in manufacturing
which provides first-hand information to the manufacturer, therefore reducing the
operating cost. It is also often outsourced.
The global pharmaceutical analytical testing outsourcing market is expected to
experience rapid growth during the forecast period due to the swiftly developing
pharmaceuticals market, increasing demand for biosimilars & biopharmaceutical
products as well as for analytical drugs, and the rising number of products in the
pipeline. Furthermore, improved efficiency in testing, reduced cost, quicker &
reliable results, and data safety are other factors propelling the global market.
However, quality approvals and regulatory audits conducted in outsourcing
laboratories could hinder the global pharmaceutical analytical testing outsourcing
market during the forecast period.
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The global pharmaceutical analytical testing outsourcing market can be divided
based on product type into the following segments: raw materials, finished
products, and active pharmaceutical ingredients. Active pharmaceutical ingredients
are likely to register a significant growth rate in the global market due to the
increasing demand for generics drugs and biosimilars. On the basis of application,
the global analytical testing outsourcing market is split into the following sections:
clinical trials, biological research, drug discovery, and others. The clinical trials
segment is anticipated to occupy a major share in the global market during the
forecast period due to the rising number of clinical trials and surge in quality
requirement to perform the testing with utmost priority and excellence. Based on
services, the global pharmaceutical analytical testing outsourcing market can be
classified into the following categories: stability testing, method validation testing,
quality control testing, and others.