The market size for pharmaceutical analytical testing outsourcing in the APAC region is expected to be growing at a CAGR of 11.42% from 2023 to 2028 and USD 3.36 billion by 2028 from USD 1.96 billion in 2023.
The market is being driven by innovation in the pharmaceutical business, an increased focus on regulation, an increase in the number of end-users, and the cost savings of outsourcing. Pharmaceutical businesses must increase their R&D spending and invest in drug discovery as part of their long-term sustainability objectives. Other factors such as the growing need for product safety and quality and changing laws for in vivo and in vitro tests are likely to drive the market forward. For example, China's government issued a notice to improve generic medication quality, clear the backlog of drug applications, improve the quality and transparency of the review and approval process, and support innovative drug R&D at pace with global development. The product lifespan is being shortened due to an increased focus on individualized care and technology improvements, resulting in the rapid growth of new products.
Demand for specific types of tests has increased due to the development of combination products, biosimilars, and other new medicines. The presence of strict regulations and the requirement to adhere to the authorities' standards, as well as an increase in demand for biosimilars, biopharmaceutical products, and analytical drugs, an increase in the number of products in the pipeline, and an increase in improved efficiencies, are all key factors driving the market growth. In addition, the pharmaceutical industry’s profits have been severely impacted by a patent cliff, which primarily affects tiny compounds. Several top-selling medications, including Humira, will reach the end of their patent lives during the forecast period.
Increased reliance on the performance of unreliable outsourced manufacturing organizations and raised concerns about the theft of confidential data used to manufacture pharmaceuticals are among the significant factors that obstruct the growth of the pharmaceutical analytical testing outsourcing market in the APAC pose additional challenges. Some of the challenges that threaten to hamper the expansion of the pharmaceutical analytical testing services market include a scarcity of experienced specialists and a well-established healthcare infrastructure. In addition, the development of the Pharmaceutical analytical testing outsourcing market is further hampered by operational expenses, changes in product manufacturing practices (GMP), regulatory policies, and shorter turnaround times.
This research report on the APAC pharmaceutical analytical testing outsourcing market has been segmented and sub-segmented into the following categories.
By Product Type:
By Service:
By End-User:
By Country:
As several industrialized countries invest in the region, Asia Pacific is expected to be the fastest-growing regional market. Outsourcing services in APAC are primarily supported by delivery centers in the Philippines, China, and India. For Japanese nearshore and onshore clients, China is becoming increasingly appealing as a delivery point. Due to the development of pharmaceutical industries in India and China, the availability of bulk manufacturers, and low-cost drug delivery in India and China, Asia-Pacific dominates the pharmaceutical analytical testing outsourcing market. Advanced analytical testing techniques such as hyphenated technique, kinetic method of analysis, and electrochemical techniques are available, allowing for precise component monitoring during drug development. Due to reduced development costs, greater GMP compliances, and the ability to undertake advanced drug synthesis, pharmaceutical key companies are focusing on the Asia Pacific region. The growth of the analytical testing outsourcing sector will be aided by leading players' quick investment in the Asia Pacific pharmaceutical market.
KEY MARKET PLAYERS:
Companies playing a prominent role in the APAC pharmaceutical analytical testing outsourcing market profiled in this report are Novartis AG, Daiichi Sankyo Company Limited, Acetelion Ltd, Boehringer Ingelheim, Sanofi S.A., Astra Zeneca, Ranbaxy Laboratories Limited, Inc., Takeda Pharmaceuticals Company Limited, Pfizer Inc., Helicure AB, and Eumedica Pharmaceuticals.
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