The North American Pharmaceutical Analytical Testing Outsourcing market is projected to grow at a significant CAGR of around 8.4% during the forecast period (2021-2027). The significant demand for API contract manufacturing and contract analytical testing in the US further propels the pharmaceutical analytical testing outsourcing market in the region. Several pharmaceutical companies such as AstraZeneca, Pfizer Inc., and others have opted to outsource API manufacturing to cut down the costs on expensive equipment, employees, and infrastructure. This has resulted in a significant change in the North American Pharmaceutical outsourcing industry. Further, the partnerships among pharmaceutical companies and API contract manufacturers were reported in the region.
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In January 2018, AstraZeneca PLC entered into a long-term supply agreement with Cambrex Corp., a small molecule innovator, and generic API manufacturer. Under the agreement, Cambrex would provide customized API contract manufacturing services to AstraZeneca. Cambrex follows the completion of capacity expansion which includes hydrogenation capabilities and a dedicated continuous flow production unit. It offers the ability to produce multiple metric tons of high purity advanced intermediates annually at the Karlskoga facility. With the growing pressure over pharmaceutical companies to meet the stringent government regulation while the production and analytical testing of drugs are supporting the demand for analytical testing outsourcing of API services.
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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?
North American 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)
North American Pharmaceutical Analytical Testing Outsourcing Market – Segmentation by Geography
- US
- Canada
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
