Global TIC Market for Pharmaceutical & Biotech Industry is Anticipated to grow at a CAGR of 5.6% by 2027

Published Date: Oct, 2021

The TIC market for the pharmaceuticals & biotech industry is expected to witness a CAGR of 5.6% during the forecast period. TIC services offers standards in the manufacturing process by conducting tests, validating, inspections, auditing, and certifications in accordance with regulations globally. TIC is playing an important role in the healthcare sector so as to meet the safety and health requirements of the consumers. The healthcare division such as pharmaceutical, diagnostics, medical devices, clinical research, and digital health applications has witnessed substantial demand in TIC practices owing to the increasing need to acquire healthcare services and related products, including medicinal supplies. Moreover, pharmaceutical companies are innovating new drugs, antidotes, and vaccines to curb the spread of coronavirus. The industry players are focus on establishing new test services to understand the seriousness of COVID-19 infection and treat patients.

The COVID-19 pandemic has led to disruptions in the supply chain but acts as a catalyst to bring changes in the healthcare sector, resulting in providing the trend of digitalization. TIC service providers are concentrating on developing and innovating services and delivery models which can identify the latent demand for rising automation, remotely-performed services, and enhanced digitization during the COVID-19 outbreak.  

 Element Materials Technology (Element) has acquired Arch Sciences Group (Arch), a leading provider of analytical services and laboratory solutions to customers in the pharmaceuticals sector. As well as marking Element’s entry into the European pharmaceutical market, the move means that the life sciences end market is now the largest within Element.

Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " TIC Market for Pharmaceuticals & Biotech Industry by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (Extractable and Leachable Studies, Environmental Monitoring, Biopharmaceutical and Biologics Analysis, Sterile Compounding, Pharmaceutical Method Development and Research, Pharmaceutical X-Ray Diffraction, Excipient Raw Materials and Container Testing, Material Sciences Testing, Disinfection Qualification, Trace Metal Services, and Others), and Region - Global Forecast to 2027"

By service type, testing dominates the TIC market for the pharmaceuticals & biotech industry during the forecast period.

Based on service type, the TIC market for the pharmaceuticals and biotech industry is segmented into testing, inspection, and certification. Testing dominates the market owing to innovation and globalization which are creating opportunities for new drugs, biologics, nutraceuticals. Pharmaceutical laboratories offer specialized testing services and include environmental monitor, formulation development, sterility, elemental impurity testing on products.

Global TIC Market for Pharmaceuticals & Biotech Industry Segmentation Analysis

Segment

Categorization

Leading Category

Sourcing Type

In-House and Outsourced

In-House (Largest)

Service Type

Testing, Inspection, and Certification

Testing (Largest)

End-Use Industry

Extractable and Leachable Studies, Environmental Monitoring, Biopharmaceutical and Biologics Analysis, Sterile Compounding, Pharmaceutical Method Development and Research, Pharmaceutical X-Ray Diffraction, Excipient Raw Materials and Container Testing, Material Sciences Testing, Disinfection Qualification, Trace Metal Services, and Others

Extractable and Leachable Studies (Significant Growth)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific (High CAGR)

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“North-America dominates the TIC market for pharmaceuticals & biotech industry.”

North America is anticipated to dominate the market during the forecast period 2021-2027 owing to the easy availability of TIC services, the existence of TIC payers, high adoption of TIC services in the healthcare industry.

Some of the key players operating in the TIC market in the pharmaceuticals & biotech industry: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, The British Standards Institution, ALS Limited, DEKRA SE, Applus+, and TUV SUD.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Sourcing Type, Service Type, End-Use Industry, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, The British Standards Institution, ALS Limited, DEKRA SE, Applus+, and TUV SUD

Global TIC Market for Pharmaceuticals & Biotech Industry- Market Coverage

Sourcing Type Insight and Forecast 2015-2027

  • In-House
  • Outsourced

Service Type Insight and Forecast 2015-2027

  • Testing
  • Inspection
  • Certification

Industry Vertical Insight and Forecast 2015-2027

  • Extractable and Leachable Studies
  • Environmental Monitoring
  • Biopharmaceutical and Biologics Analysis
  • Sterile Compounding
  • Pharmaceutical Method Development and Research
  • Pharmaceutical X-Ray Diffraction
  • Excipient Raw Materials and Container Testing
  • Material Sciences Testing
  • Disinfection Qualification
  • Trace Metal Services
  • Others

Geographical Segmentation

TIC Market for Pharmaceuticals & Biotech Industry by Region

North America

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global TIC Market for Pharmaceutical & Biotech Industry is Anticipated to grow at a CAGR of 5.6% by 2027