The Global Pharmaceutical Analytical Testing Market Is Witnessing High Growth Owing To the High Developments by Key Companies in the World

 

Pharmaceutical Analytical Testing Market

Market Overview:

Pharmaceutical analytical testing is an essential component of the drug development and manufacturing process, helping to establish drug substance identity, purity, potency, and physical characteristics. It can also be used to evaluate a drug’s bioavailability and stability over time. During drug development, companies typically work with contract laboratory organizations or CROs for all or part of their analytical testing needs. However, in the past decade, pharmaceuticals have increasingly migrated analytical development and testing upstream to manufacturing divisions. The first stage in this migration is often the characterization of the drug substance or API, which involves developing and validating analytical test methods that allow a company to evaluate and identify potential issues with a compound’s quality. This step is critical in determining whether the drug substance or API is suitable for use in the intended application, and it requires an in-depth knowledge of the chemical makeup of a compound.

Competitive Landscape:

Major players operating in the global pharmaceutical analytical testing market include Steris, West Pharmaceutical Services Inc., Boston Analytical, Intertek Pharmaceutical Services, Pace Analytical Services., Toxikon Inc., SGS SA, Eurofins Scientific, and Laboratory Testing Inc.

Key Market Drivers:

Major players operating in the global pharmaceutical analytical testing market include Increasing developments by key players in the global pharmaceutical analytical testing market are expected to augment the growth of the market. For instance, in July 2022, LabCorp and MD Anderson Cancer Center Foundation collaborated, in order to accelerate new developments and discoveries related to global cancer therapies. Method development and validation are crucial processes in the pharmaceutical development lifecycle, providing a means to verify that the analytical method is scientifically sound and meets FDA requirements. The analytical methods must be appropriate for the drug substance or drug product being evaluated and are usually revised during the development cycle as new formulations or synthetic routes are developed. Moreover, the high expansion of the pharmaceutical sector in the world is estimated to enhance the growth of the global pharmaceutical analytical testing market.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several developments in the global pharmaceutical analytical testing market. For instance, in April 2021, Retrogenix Ltd. was acquired by Charles River Laboratories, in order to provide air quality and sampling along with cell microarray services.

Key Takeaways:

·         North America is expected to dominate the growth of the global pharmaceutical analytical testing market, owing to the high incidence of key players in the region. For instance, in March 2022 WuXi Advanced Therapies introduced Tetracycline-Enabled Self-Silencing Adenovirus (TESSA), in order to ensure stable production of gene therapy.

·         Europe is estimated to witness high growth in the global pharmaceutical analytical testing market, owing to the increasing developments done by key companies in the region. For instance, in July 2022, Silver State Analytical and Excelchem were acquired by SGS, in order to expand their environmental testing capabilities.