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Global TIC Market for Pharmaceutical & Biotech Industry

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.

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Global TIC Market for Pharmaceutical & Biotech Industry

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  1. Global TIC Market for Pharmaceutical & Biotech Industry

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Global TIC Market for Pharmaceutical & Biotech Industry 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.

  4. Global TIC Market for Pharmaceutical & Biotech Industry 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.

  5. Global TIC Market for Pharmaceutical & Biotech Industry 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. 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.

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