The global market for validation, calibration and standardization in the global life sciences should grow from $1.5 billion in 2018 to reach $2.1 billion by 2023 at a compound annual growth rate (CAGR) of 6.7% for the period of 2018-2023.
The scope of this report is broad and covers multiple types of services available, instruments and consumables utilized, ongoing research and development in global validation, calibration and standardization in life sciences market and potential end-users. Global validation, calibration and standardization in the life sciences market is broken down into instruments and consumables, service type, service providers and end users. Revenue forecasts from 2017 to 2023 are given for each of these four segments, with estimated values derived from the total revenues of companies operating in the market.
The report includes a discussion of the major players across each region in validation, calibration and standardization in the life sciences market. This report also explains the major drivers and regional dynamics of this market and current trends within the industry.
The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in this market.
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– 85 data tables and 50 additional tables
– Country specific data and analysis for US, Canada, Germany, France, UK, Spain, China, India, Japan, and Australia
– Explanation of validation and calibration of instruments such as heap filters, pH meters, incubators, autoclaves, HPLC units, and GC units
– Discussion of ongoing research in treatments of various diseases and susceptibility of various microbes toward traditional medicines as driving factors to the industry
– Insight into the regulatory compliances in life science industry
– Detailed profile of major companies of the industry, including Beckman Coulter, Inc., Biovia (Dassault Systems), Data Sciences International (DSI), IBM and Thermo Fisher Scientific
The growth of the pharmaceutical and biotechnology market is one of the key growth factors of validation, calibration and standardization in the life sciences market. Validation, calibration and standardization products and services find applications in maintaining the accuracy of instruments and devices used in research and other activities in laboratories. Research and development spending for new products and technological development has been rising at a rapid pace over the years. According to the Association of the British Pharmaceutical Industry (ABPI), global pharmaceutical R&D spending was estimated to be REDACTED in 2015 and is expected to rise to REDACTED by 2022. Companies and
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other organizations are working to enhance the efficacy of drugs and advance drug development. For instance, according to Pharmaprojects (U.K.), a drug development database, the total number of pipeline research projects for drug development across the globe reached 14,872 in 2017, rising from 11,307 in 2014.
Further, the rising adoption of software for calibration management is also driving the utilization of services by pharmaceutical and biotechnology companies and other research organizations that reduce the overall time and cost of validation and calibration processes. Software usage ensures that the calibration performed at multiple places remains the same and on time. This helps companies maintain accuracy and quality and reduce errors. Advanced automated software can process multiple units at same time, making it cost and time effective. Moreover, software helps to keep records for future use and trend analysis.
This report provides analyses based on different market segments such as by service type, service providers, instruments and consumables, and end-users. Service type segment is further divided into electrotechnical, pressure, fluid flow/optical, pipette, thermal, mechanical and others. Electrotechnical held the largest market share of REDACTED in 2017 in terms of revenue, generating REDACTED. By 2023, total revenue from the electrotechnical segment is expected to reach REDACTED.
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