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Boost from Pharmaceutical and Nutraceutical Markets to Drive the Analytical Laboratory Services Mark - New analysis from Frost & Sullivan North American Analytical Laboratory Services Market, reveals that revenues in this industry totaled $603.1 million in 2005 and estimates to reach $743.3 million in 2012.
Boost from Pharmaceutical and Nutraceutical Markets to Drive the Analytical Laboratory Services Mark

 

NewswireToday - /newswire/ - Palo Alto, CA, United States, 2006/09/07 - New analysis from Frost & Sullivan North American Analytical Laboratory Services Market, reveals that revenues in this industry totaled $603.1 million in 2005 and estimates to reach $743.3 million in 2012..

   
 
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Analytical laboratories analyze selected chemical constituents of a sample, which may be soil, plant, water, wastewater, feed or even parts of human tissues. As a result of heavy cost reduction, pharmaceutical companies are outsourcing laboratory services to contract research organizations and small analytical laboratories, thereby boosting demand for the same.

New analysis from Frost & Sullivan North American Analytical Laboratory Services Market, reveals that revenues in this industry totaled $603.1 million in 2005 and estimates to reach $743.3 million in 2012.

If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants an overview of the latest analysis of the North American Analytical Laboratory Services Market, then send an email to Tori Foster, Corporate Communications at tori.foster[.]frost.com with your full name, company name, title, telephone number, fax number and email. Upon receipt of the above information, an overview will be sent to you by e-mail.

“In addition to steady demand from the pharmaceutical and nutraceutical markets, analytical laboratories are being boosted by government regulation,” explains Frost & Sullivan Research Analyst Lakshman Koundinya. “Stringent government legislation and the mandated need to comply is increasing demand for the services offered by these laboratories.”

Government legislations such as the U.S. Federal Water Pollution Control Act of 1972 – changed later to the Clean Water Act in 1977 – which dictates the discharge of pollutants into the water in the country is likely to boost demand for analytical laboratories. Furthermore, the Clean Air Act that was introduced in 1990 issues guidelines for providing clean air to American citizens.

Due to scale of economics, larger analytical laboratories have advantages because of the amount of samples being done at very lower cost. This scale of economics has provided them an advantage over competitors. With companies showing no interest in expanding, smaller laboratories cannot compete against the market leaders.

"In addition to the lack of large economies of scale that could potentially reduce the company in terms of growth, increased cost of operation and reduction in government spending on environment-related issues are major concerns," notes Koundinya. "Increasing cost of labor and stringent control on spending by the pharmaceutical industry has severely affected the growth of the analytical laboratory services market."

Customer focus is a key aspect for success, as it is four times more expensive to get a new client, than retain an existing one. Therefore, companies are paying grave attention to customer service. Also, the increasing cost of running a laboratory and maintaining cost has become an important factor under consideration by many companies. Attention to these factors is likely to boost the revenues of this market.

North American Analytical Laboratory Services Market is part of the 9440 Analytical Instrumentation (Test & Measurement) subscription and it evaluates the end users, regions and technologies of this market. This study also offers focused information that concentrates on business and technology issues, and provides detailed insights into the environmental, industrial hygiene, as well as pharmaceutical and nutraceutical analytical laboratory services markets. Analyst interviews are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

North American Analytical Laboratory Services Market
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Boost from Pharmaceutical and Nutraceutical Markets to Drive the Analytical Laboratory Services Mark

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Publisher Contact: Tori Foster 
210.477.8448 tori.foster[.]frost.com
 
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