Bioanalytical Testing Services Market size is expected to reach USD 7.65 billion by 2030

 Bioanalytical Testing Services Industry Overview

The global bioanalytical testing services market size was estimated at USD 3.64 billion in 2021 and is anticipated to register a compound annual growth rate (CAGR) of 8.6% over the forecast period. The bioanalytical testing method is used for the quantitative determination of drugs or metabolites in biological matrices, such as serum, blood, plasma, tissue, urine, and skin samples. The applications of such methods are bioavailability, pharmacology, bioequivalence, pharmacokinetic, and toxicology studies conducted in humans and animals. Also, with the outbreak of the COVID-19 pandemic, the market has witnessed high demand in the year 2020.

 

Moreover, the increasing frequency of outsourcing R&D activities by the major pharmaceutical companies to focus on their core competencies is the vital impact rendering driver for this market. Furthermore, the economic efficiency offered by outsourcing rather than conducting an in-house study is expected to boost the demand over the forecast period. Innovation and new product development are expected to further boost the demand for these services. Competitive pressure and pricing concerns are driving companies to outsource such services. This, in turn, is expected to augment the overall market growth.

 

Gather more insights about the market drivers, restrains and growth of the Global Bioanalytical Testing Services Market

 

In addition, a growing focus on the development of advanced bioanalytical technologies for enhanced testing is expected to contribute to market growth. The development of biosimilars, combination products, and other innovative medicines has increased the demand for specific testing procedures. The coronavirus pandemic has resulted in disruptions in the supply chain of the overall pharmaceutical industry. However, the market for bioanalytical testing services responded well to the outbreak. The pandemic resulted in the expansion of R&D and manufacturing operations of key stakeholders leading to a surge in demand for these services.

 

Furthermore, several biopharmaceutical companies are using bioanalytical testing outsourcing services for drug development and validation of assays at both clinical and preclinical stages, thus supporting the growth of the market. The global transmission of coronavirus disease and the lack of effective treatments and vaccines are driving the need for early detection and widespread screening. This has also increased the usage of bioanalytical testing services for point-of-care diagnostic and minimizing the societal impact of the infection.

 

Browse through Grand View Research's Pharmaceuticals Industry Research Reports

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Bioanalytical Testing Services Market Segmentation

Grand View Research has segmented the global bioanalytical testing services market based on molecule, test, workflow, therapeutic area, end-user, region:

Bioanalytical Testing Services Molecule Outlook (Revenue, USD Billion, 2018 - 2030)

  • Small Molecule
  • Large Molecule

Bioanalytical Testing Services Test Outlook (Revenue, USD Billion, 2018 - 2030)

  • ADME
  • PK
  • PD
  • Bioavailability
  • Bioequivalence
  • Others

Bioanalytical Testing Services Workflow Outlook (Revenue, USD Billion, 2018 - 2030)

  • Sample Preparation
  • Sample Analysis
  • Other Workflow Processes

Bioanalytical Testing Services Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)

  • Oncology
  • Neurology
  • Metabolic Disorders
  • Hematology
  • Immunology
  • Orthopedics
  • Others

Bioanalytical Testing Services End-user Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmaceutical and Biotechnology Companies
  • Contract Development and Manufacturing Organization
  • Contract Research Organization
  • Others

Bioanalytical Testing Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

Market Share Insights

  • February 2021: Nexelis, a provider of advanced assay development and laboratory testing services, has signed an asset purchase agreement with GlaxoSmithKline (GSK) to acquire GSK’s Good Clinical Laboratory Practices (GCLP)-certified clinical bioanalytical laboratory located in Marburg, Germany, with an aim to enhance its vaccines production capacities.
  • January 2021: Eurofin’s bioanalytical services division announced the launch of a surrogate virus neutralization antibody assay against the COVID-19 virus. This assay is the first neutralizing antibody serology test authorized by the FDA as Emergency Use Authorization (EUA) for SARS-CoV-2-virus. 

 

Key Companies Profile

Some of the key players in the global bioanalytical testing services market are:

  • PPD, Inc.
  • ICON Plc
  • Charles River Laboratories International
  • Covance, Inc.
  • IQVIA
  • Syneos Health
  • SGS SA
  • Toxikon
  • Intertek Group Plc
  • Pace Analytical Services LLC

 

 

Order a free sample PDF of Bioanalytical Testing Services Market Intelligence Study, published by Grand View Research.

 

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