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.
Market Coverage
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Report Elements |
Details |
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Study Period |
2020-2027 |
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Base year |
2020 |
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Forecast period |
2021-2027 |
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Segments Covered |
By Product Type and by Services |
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Regions Covered |
UK, Germany, France, Italy, Spain, and the Rest of Europe |
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Key Companies Profiled |
Eurofins
GSC Lux SARL, Element Materials Technology Group Ltd., ICON plc, Intertek
Group plc, SGS SA, and others |
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
o Recommendations
European Pharmaceutical Analytical Testing Outsourcing Market – Segmentation
By Product type
By Services
European Pharmaceutical Analytical Testing Outsourcing Market – Segmentation by Geography
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