Acumen Research and Consulting Bioanalytical Testing Services Market Size to Exce | Page 3
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testing-services-market
Some key players are PPD, ICON Plc, Covance, LabCorp, Charles River
Laboratoires International, Inc., InVentiv Health, and SGS, SA; Toxikon, Inc.;
Intertek Group, LLC. Collaborations, Pace Analytical Services. Expansion of the
service portfolio and combinations and acquisitions are key strategic
undertakings
Regional Outlook
North America was in 2018 the world market leader in bioanalysis services. This
is due to the fact that it is one of the highly reliable, complex and high-end
pharmaceutical companies in the manufacturing industry. The OEMs move
quickly towards electronics manufacturing service providers, so that the volume
of electronic components in the current pharmaceutical products increases
efficiently.
One of the main reasons for the growth of the market in North America is
expected to be the rapid increase in pharmaceutical manufacture to meet
increasing demand for efficient healthcare. In 2013, around 15.0% of GDP has
been spent on healthcare and medical care, according to a recent study. As the
government increases its support to reduce healthcare costs, the regional
pharmaceutical externalization market is expected to grow further.
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The most rapid growth is predicted in Asia Pacific over the forecast period as
demand for outsourcing services rises in relatively unreliable markets. The
delivery centers in China, Manila, and India generally support external services in
this region. As a delivery location for onshore and nearshore customers from
Japan, China is gaining popularity.
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