Healthcare Analytical Testing Services Market worth $9.8 billion by 2026

https://www.marketsandmarkets.com/Market-Reports/healthcare-analytical-testing-services-market-108923833.html

The global healthcare analytical testing services market is projected to reach USD 9.8 billion by 2026 from USD 5.6 billion in 2021, at a CAGR of 11.9%. Growth in the market is driven by the growing focus towards the analytical testing of biologics and biosimilars, increasing outsourcing of analytical testing by pharmaceutical companies and increasing acceptance of the QbD approach in pharma research/manufacturing.

The healthcare analytical testing services market exhibited a dip in the year-on-year growth rate for the first half of 2020 since the COVID-19 outbreak resulted in decreased drug production in many countries. This impacted many segments of the analytical testing market, such as raw material testing and physical characterization services. However, there has been a solid recovery in the market from Q3 2020, fueled by growth in the pharmaceutical industry in response to the COVID-19 pandemic. In this report, the global healthcare analytical testing services market is segmented by type, end user, and region.