A number of analytical services are provided in the market, such as bioanalytical testing, raw material testing, batch release testing, product validation, physical characterization and others. These services are widely employed in the healthcare sector, including pharmaceutical companies, biopharmaceutical companies and medical device companies. These services provide a reliable source for accuracy, quality and efficiency. They have applications in areas such as oncology, neurology, infectious diseases, cardiology and others.
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The analytical laboratory services market is growing with the rise in government initiatives to strengthen analytical testing capabilities and the growing number of drug approvals and clinical trials. Moreover, rising usage and development of a large number of macromolecules and biosimilar for various therapeutic areas and increased spending by governments to set up new laboratories are other factors accelerating the laboratory services market growth.
Data Bridge Market Research analyses that the Middle East and Africa analytical laboratory services market is expected to reach USD 473.84 million by 2029, at a CAGR of 12.6% during the forecast period. The bioanalytical testing segment accounts for the largest offering segment in the analytical laboratory services market.
Collaborations in the market is the primary factor that is expected to create opportunities in the market. Agreements, partnerships, and collaborations are performed to overcome hurdles such as limited regional presence and supply chain and to increase the service portfolio. In the Middle East and Africa analytical laboratory services market, various market players have performed this, creating opportunities in the market.
The countries covered in the Middle East and Africa analytical laboratory services market report are Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa. South Africa is expected to dominate the Middle East and Africa analytical laboratory services market as the country is experiencing a rapid improvement in laboratory infrastructure and services.
Some of the major companies providing analytical laboratory services in the Middle East and Africa analytical laboratory services market are WuXiAppTec, Eurofins Scientific, SGS SA, Covance (A Subsidiary of Laboratory Corporation of America Holdings), Intertek Group plc, Charles River Laboratories, ICON plc, Medpace, Q2 Solutions (a subsidiary of IQVIA), Syneos Health, Frontage Labs, TOXIKON, ALS Limited, Evotec SE, Shanghai Medicilon inc., and PPD Inc. (a subsidiary of Thermo Fisher Scientific Inc.) among others.
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