Key Strategies Adopted by Leading Players in the Healthcare Analytical Testing Services Market

(IT-NEWSWIRE.COM, August 24, 2018 ) The shift of focus towards analytical testing of biologics and biosimilars, increasing outsourcing of analytical testing by pharmaceutical companies, increasing acceptance of the QbD approach in pharma research/manufacturing, and the adoption of FTE contracts in R&D outsourcing are the major factors driving the growth of the healthcare analytical testing services market. The rising demand for specialized analytical testing services and rapidly growing APAC market are the major opportunities in the healthcare analytical testing services market.

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The global healthcare analytical testing services market is consolidated at the top with the presence of few big players in the market. However, at the other end, the market is fragmented with regional and global players all competing for market share. Eurofins Scientific (Luxembourg), Charles River Laboratories (US), and Wuxi PharmaTech (China) are the major players in this market. The companies mainly focus on acquisitions and expansions.

Eurofins Scientific is among the leading players in the healthcare analytical testing services market. The company provides services to over 225 laboratories across 39 countries. It offers over 130,000 reliable analytical methods for evaluating the safety, identity, composition, authenticity, origin, traceability, and purity of biological substances and products, as well as for innovative clinical diagnostics. In order to remain competitive in the global market, the company focuses on inorganic and organic growth strategies such as acquisitions and expansions. For instance, in March 2016, the company acquired Advantar Laboratories (US) to strengthen its market position.

Wuxi PharmaTech (China) is another major player in the healthcare analytical testing services market. The company mainly operates in China & the US and has 23 R&D units present globally. Moreover, the company has a strong customer base. For instance, in 2014, the company's China-based operations provided services to approximately 1,100 pharmaceutical and biotechnology customers, while the US-based operations served approximately 1,300 medical device, biotechnology, and pharmaceutical companies.

Charles River (US) is also among the top companies in the healthcare analytical testing services market in 2017. The company has 64 facilities and provides its services in 18 countries worldwide. In order to enhance its share in the healthcare analytical testing services market, the company focuses on acquiring local market players. For instance, in April 2016, Charles River acquired WIL Research (US), a premier provider of safety assessment and contract development and manufacturing (CDMO) services to biopharmaceutical, agricultural, and industrial chemical companies.

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Key Strategies Adopted by Leading Players in the Healthcare Analytical Testing Services Market