PHARMACEUTICAL TESTING SERVICES MARKET ANALYSIS

Regional Analysis

Global Pharmaceutical Testing Services Market – Regional Insights

Among regions, North America is estimated to account for the largest share in the global pharmaceutical testing services market over the forecast period, owing to the rising approvals for novel drugs and biological therapies. For instance, till June 2021, the U.S. FDA’s Center for Drug Evaluation and Research (CDER) approved 26 novel drugs for indications ranging from lung cancer, prostate cancer, and bipolar disorder to Alzheimer’s disease.

Furthermore, due to the opening of new collaboration centers, Asia Pacific may witness a lucrative growth in global pharmaceutical testing services market over the forecast period. For instance, on July 10, 2020, Merck, a leading science and technology company, opened its MLab Collaboration Center in Shanghai, China, the largest of the company's nine collaboration centers worldwide. M Lab Collaboration Center provides adaptable solutions and services to help biopharmaceutical and biologics companies to improve their processes from drug discovery to development & testing to manufacturing and helping to speed up the process of product market release. These factors are expected to support global pharmaceutical testing services market growth over the forecast period.