The Global Bioanalytical Testing Services Market was valued at USD 2.3 Bn in 2020 and is expected to reach USD 4.9 Bn by 2027, with a growing CAGR of 11.6% during the forecast period.
The bioanalytical testing method is a quantitative analytical method used to determine the properties of drug and its reaction with biological matrices such as blood, urine, ad tissue. Bioanalytical testing procedures provide support to clinical and pre-clinical studies. These methods are used to analyze bioavailability, pharmacokinetics, bioequivalence, development, and commercialization of drugs.
Get a Sample Copy of the Report at https://www.alltheresearch.com/sample-request/800
Bioanalytical Testing Services Market Dynamics
The driving factors for the global bioanalytical testing services market include a rise in need for site-specific drug development testing methodologies, growing incidences of infectious diseases such as HIV, and increasing government initiatives in terms of funding and grants for R&D. Moreover, increasing demand for proving safety and efficacy of generic drugs, quantifying purity of novel drug molecules, and rising demand for large molecule-based therapies are expected to fuel the growth of bioanalytical testing services market. Besides, an increase in the use of bioanalytical testing methods in phase II clinical trials and its applications in long term toxicity testing is expected to leverage the growth of the bioanalytical testing services market.
Global Bioanalytical Testing Services Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the bioanalytical testing services market are:
Based on type, serology, immunogenicity, and neutralizing antibodies segment is expected to hold largest market share during the forecast period owing to rise in infectious diseases
Based on type, bioanalytical testing services market is broadly segmented into virology testing, cell-based assays, pharmacokinetic testing, biomarker testing, serology, and method development optimization & validation. Serology, immunogenicity, and neutralizing antibodies is expected to hold the largest market share during forecast period due to growing prevalence of immune diseases. Moreover, growing research in serology, rising blood-based diseases, increasing susceptibility associated with antibodies related diseases and growing applications of serology, immunogenicity and neutralizing antibodies in drug development procedure fuels the growth of the market in the coming years. For instance, serology testing had huge importance in covid-19 pandemic. Serological and immunological assays were used in detection of antibodies developed by individuals on exposure to the virus in detection of antigen for infected individuals. This leveraged the demand for serological, immunogenicity, and neutralising antibodies in bioanalytical testing services market.
Based on applications, oncology segment is expected to dominate the market during forecast period due to rising incidence of cancer cases
Based on applications, bioanalytical testing services market is segmented into neurology, oncology, cardiology, gastroenterology, and infectious diseases. Oncology held the largest market share in 2020 due to rise in development of analytical testing procedures for detection of root cause of cancer diseases. Moreover, the segment is expected to dominate the market during forecast period due to increase in clinical trial procedures for oncology and rising drug approvals from FDA related to cancer disease. Besides, increasing cancer burden, surge for novel therapy development, and gaining focus of biopharmaceutical companies towards large molecule testing & development is expected to boost the growth of the bioanalytical testing services market in the forecast period
Based on end users, pharmaceutical and biopharmaceutical companies held the largest market share in 2020 and expected to increase more during the forecast period
Based on end users, bioanalytical testing services market is segmented into contract development & manufacturing organizations, pharmaceutical & biopharmaceutical companies, and contract research organizations. Pharmaceutical & biopharmaceutical companies dominated the market in 2020 and expected to maintain same dominance during forecast period due to rise in drug development procedures in the companies. Moreover, rise in outsourcing of drug molecules at early-stage development and laboratories testing services is expected to leverage the growth of bioanalytical testing services industry across the globe.
Based on geographical region, North America expected to hold the largest market share during forecast period due to rising demand bioanalytical testing procedures
Based on region, North America held the largest market share in 2020 due to large volume of ongoing research activities, rising number of patient admission for clinical trials, and growing geriatric population. Moreover, growing adoption of peptides-based diseases detection techniques, increasing incidences of chronic diseases, and growing research on large molecules as an alternative for small molecules are expected to uplift the growth of bioanalytical testing services market.
The report also provides an in-depth analysis of bioanalytical testing services market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Bioanalytical Testing Services Market Analysis
Covid-19 has positively impacted the growth of the bioanalytical testing services market due to the growing demand for accurate bioanalytical viral testing methodologies Bioanalytical technologies played a crucial role in the alleviation of coronavirus outspread. Bioanalytical methods were developed to understand the nature and activity of the virus in order to develop vaccine. Many pharmaceutical and biopharmaceutical companies such as Viracor Eurofins, ICON plc, and SGS Life Sciences focused on analyzing covid variant for the development of therapy. Moreover, companies tried to develop high-quality lab-testing procedures for diagnosis and detection of virus. Upsurge for the evolution of high-throughput analytical method created opportunities for the biopharmaceutical companies and leveraged the growth of bioanalytical testing services market. For instance, in July 2020, CIRION BioPharm Research Inc., research laboratory declared the expansion of their bioanalytical services by expanding laboratory facilities for the development of drugs & vaccines related to coronavirus.
The report also provides an in-depth analysis of key trends in the bioanalytical testing services market
|1||Growing adoptions of liquid chromatography-mass spectrometry in bioanalysis is set to be the latest trend in bioanalytical testing procedures||Positive|
|2||Growing need for auto-sampler techniques for bioanalytical procedures and surge for outsourcing samples for analytical studies||Positive|
The report also provides an in-depth analysis of recent news developments and investments
The unique insights provided by this report also includes the following:
Ask for free product review call with the author
Share your specific research requirements for a customized report
Request for due diligence and consumer centric studies
Request for study updates, segment specific and country level reports