AI and automation to drive “substantial progress” in pharmaceutical analytical testing

The pharmaceutical analytical testing market is seeing significant growth following a greater incidence in the complexity of medicine development and higher demand for biologics and biosimilars, according to a report by Straits Research Pvt. Ltd.

Their analysis projected that the market will exceed a value of $15.46 billion by 2032. The market is furthermore expected to see a compound annual growth rate (CAGR) of 7.3 percent between 2024 and 2032.

An increasing trend of outsourcing boosts growth of the market as pharmaceutical companies are utilising advanced testing capabilities and optimising their drug development processes. Moreover, advancements in biotechnology and personalised medicine demand advanced testing techniques, further enhancing the market’s position, the report found.

Market disruptors

Implementing automation and artificial intelligence (AI) in pharmaceutical analytical testing presents disruptive prospects for the market. The research anticipated that the combination of AI and automation will drive “substantial progress”, making pharmaceutical analytical testing more cost-effective.

As a tool for predictive analytics in pharmaceutical development, AI accelerates market entry of new pharmaceuticals and improves accuracy in intricate testing situations, the report highlighted.

Pharmaceutical analytical testing – market forecast by region

North America is expected to harness a 53.17 percent market share between 2024 and 2032, based on the forecast by Straits Research. This is based on key factors that support its dominant position, such as significant R&D investment and a requirement for extensive analytical testing due to strict regulatory standards.

The Asia Pacific region is expected to witness the highest CAGR due to numerous factors including swift expansion of its pharmaceutical and biotechnology industries, heightened demand for superior testing services, following more clinical trial and drug development initiatives.

The report stated that key players in the pharmaceutical analytical testing market include:
• Almac Group
• Charles River Laboratories
• Eurofins Scientific
• ICON plc
• SGS SA
• Syneos Health
• Thermo Fisher Scientific Inc. (PPD)
• WuXi AppTec.