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Analytical Laboratory Services - Global Market Trajectory & Analytics

  • ID: 4805119
  • Report
  • April 2021
  • Region: Global
  • 188 pages
  • Global Industry Analysts, Inc
Global Analytical Laboratory Services Market to Reach $492.1 Million by 2027

Amid the COVID-19 crisis, the global market for Analytical Laboratory Services estimated at US$268.3 Million in the year 2020, is projected to reach a revised size of US$492.1 Million by 2027, growing at a CAGR of 9.1% over the analysis period 2020-2027. Batch Release Testing, one of the segments analyzed in the report, is projected to record a 9% CAGR and reach US$114.8 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Microbial Testing segment is readjusted to a revised 8.7% CAGR for the next 7-year period.



The U.S. Market is Estimated at $72.6 Million, While China is Forecast to Grow at 12% CAGR

The Analytical Laboratory Services market in the U.S. is estimated at US$72.6 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$102.4 Million by the year 2027 trailing a CAGR of 12% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.2% and 7.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7% CAGR.

Environmental Monitoring Segment to Record 9.7% CAGR

In the global Environmental Monitoring segment, USA, Canada, Japan, China and Europe will drive the 9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$24.2 Million in the year 2020 will reach a projected size of US$44.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$69.9 Million by the year 2027, while Latin America will expand at a 11.1% CAGR through the analysis period.

Select Competitors (Total 41 Featured):
  • Agenzia Italiana del Farmaco
  • Central Drugs Standard Control Organization
  • China Food and Drug Administration
  • European Medicines Agency
  • Federal Institute for Drugs and Medical Devices
  • Pharmaceuticals and Medical Devices Agency
  • The Spanish Medicines and Health Products Agency
  • U.S. Food and Drug Administration
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Analytical Testing: A Market Overview
  • Laboratory Medicine: Outlook
  • Impact of Covid-19 and a Looming Global Recession
  • Increasing Expenditure on Drugs and Medical Equipment by Public Health Organizations Propels the Market
  • Government Initiatives for Building Concrete Analytical Testing Abilities Drives the Market Forward
  • Upsurge in Number of Clinical Trials and Drug Approvals, and Demand for Specialized Analytical Testing Services Spurs the Market
  • Innovative and Complicated Pharmaceutical Products Necessitating Unique Analytical Approach Hinders the Market Growth
  • North America: A Market Leader
  • Asia-Pacific: Most Lucrative Market
  • Laboratory Analytical Testing Services Market in GCC: An Insider
  • PRODUCT OVERVIEW
  • Analytical Laboratories: An Insight
  • Analytical Instruments
  • Type of Analytical Instruments
  • Analytical Laboratory Services: An Introduction
III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 41
Note: Product cover images may vary from those shown
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