The US pharmaceutical analytical testing outsourcing market is projected to grow at a significant CAGR of around 8.1% during the forecast period (2021-2027). The major factor that propels the market growth in the country includes the growing trend towards outsourcing services in the pharmaceutical sector of the country. There are several small to medium companies that are providing pharmaceutical services on a contract basis to other firms. In recent years, the volume of generic drug sales has increased rapidly in the US, whereas, the outsourcing of branded pharmaceuticals and their analytical testing in the US has been growing at a significant rate due to the lack of any production capacity constraint with pharmaceutical companies.
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A large number of branded pharmaceuticals have moved towards maturity and late growth stages in the product life cycle. Hence, utilization levels of these plants are likely to grow to unsustainable levels. This makes outsourcing a viable option for many pharmaceutical companies operating in the region. There are several major biopharmaceuticals company in the country, which include Thermo Fisher Scientific, Inc., Catalent, Inc., Pfizer CenterOne, Baxter International, Inc., and AbbVie, Inc. Apart from these, various small players are operating in the company that is adopting API, drug formulation, analytical testing, and other drug development & manufacturing services and further contributes in the market growth.
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US 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)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
