The European pharmaceutical analytical testing outsourcing market is projected to grow at a significant CAGR of around 7.8% during the forecast period (2021-2027). One of the major factors that propel market growth includes the presence of various pharmaceuticals that are adopting the pharmaceutical analytical testing services in the region. European economies are home to several pharmaceutical companies such as BASF SE, Boehringer Sohn, Allergan PLC, Novo Nordisk, Merck, and others. High R&D spending from the major companies is fueling the contract manufacturing and analytical testing in the region. According to the European Commission, the R&D spending of major industry players in the region is growing at an alarming rate.
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Bayer AG had recorded R&D investment growth of 7.6% in 2018-2019. Moreover, Sanofi had invested $5.8 billion in R&D activities in 2018-19. R&D investment for Bayer AG, GlaxoSmithKline, Boehringer Sohn, Allergan, and the Shire was $5.4 billion, $4.5 billion, $3.5 billion, $3.0 billion, and $2.2 billion respectively. Huge spending by the market players increases the requirement for the development of new drugs, medicines, and equipment. Therefore, companies prefer to outsource the manufacturing of various pharmaceutical products. Thus, the demand for pharmaceutical contract manufacturing and analytical testing is increasing with substantial spending by the market players.
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Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and the coming years?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Pharmaceutical Analytical Testing Outsourcing Market – Segmentation
By Product type
- API
- Raw Materials
- Finished products
By Services
- Bioanalytical services
- Stability testing
- Drug substance
- Method development & Validation
- Others (Quality Testing)
European Pharmaceutical Analytical Testing Outsourcing Market – Segmentation by Geography
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
