A recent report on Bioanalytical Testing Services Market provides a detailed analysis of the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Bioanalytical Testing Services Market Size and Value
Bioanalytical Testing Services Market is valued at USD 2.90 Billion in 2018 and expected to reach USD5.61Billion by 2025 with the CAGR of 9.87% over the forecast period.
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Bioanalytical testing is the analytical method used for the analysis of biotechnological or biological products. Bioanalytical testing services supports development of drugs in various geographies and for various different therapeutic areas.Bioanalytical testing enables quantitative determination of drugs in biological substances such as blood, serum, plasma, or urine. All these tests are conducted in pathological labs or diagnostic centers and in research laboratories. It is conducted when a drug is being developed, and helps in the commercialization of the drug sells.There are various types of test available such as pharmacokinetic test, pharmacodynamics test, bioequivalence test, bioavailability test and other test. Among the entire bioavailability and bioequivalence test are expected to gain significant growth of the global bioanalytical testing services market due to increased demand for bioanalytical testing services in generic drug development.Pharmaceutical and biopharmaceutical companies are the leading end-user in bioanalytical testing services.
The regions covered in this bioanalytical testing servicesmarketreport are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of bioanalytical testing servicesis sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Bioanalytical Testing Services Companies 2020
- Covance Inc.
- inVentiv Health
- Toxikon, Inc.
- Charles River Laboratories International, Inc.
- ICON plc
- Pace Analytical Services, LLC.
- Sartorius Stedim BioOutsource Limited.
- SGS SA
- Frontage Holdings Corporation
- Fios Genomics
- Intertek group.
- Particle Sciences
- Lotus Labs Pvt. Ltd..
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Bioanalytical Testing Services News
Charles River Partners With Fios Genomics for Analytics Services
News: January 16, 2020, Charles River partnered with Fios Genomics to provide bioinformatics, statistics, and computational biology services. This partnership will help the firm in the sourcing and analysis of high-dimensional, multi-variant datasets associated with drug development.
Frontage Completes Expansion of Bioanalytical Capacity and Capabilities to Support Biologic and Small Molecule Drug Development including Cell and Gene Therapies, Biomarkers testing and High Throughput Clinical Sample Management
News:February 28, 2020, Frontage Holdings Corporation opened a new bioanalytical laboratory in Exton, PA, through its wholly-owned subsidiary, Frontage Laboratories, Inc. This includes an additional 10,000 square feet of laboratory space which further will enhance bioanalytical capabilities in biologics and small molecule drug development, biomarkers, cell and gene therapy and high-throughput clinical sample management.
Bioanalytical Testing Services Market Dynamics
Rise in demand for bioanalyctical services, large number of ongoing clinical trials,huge investment by many of the major pharmaceutical companies are key factors driving growth of the global bioanalytical testing services market. Moreover, rising spending on pharmaceutical and launch of high number of novel drugs are an impelling factor for new drug development, which impacts positively the growth of the bioanalytical testing services market in forcaste period.According to National Conference of State Legislatures,as of 2015, about 36 % of total pharmaceutical spending in the commercial market was devoted to specialty medications.According to The Centers for Medicare & Medicaid Services (CMS), projectscontinued increases in drug spending of 6% or more annually from 2015 to 2022, as both drug prices and utilization increase.Moreover, Lack of skilled professionals is the major restrains of the global bioanalytical testing services market.However, technological advancements anddeveloped healthcare infrastructure and advance analytical instruments for testing may generate new opportunities in forecast period. The global pharmaceutical market will reach nearly USD 1,430 billion by 2020, According to International Federation of Pharmaceutical Manufacturers & Associations.
Bioanalytical Testing Services Market Regional Analysis
North America is expected to dominate region with highest shares due to heavy investments in R&D initiatives,to rise in demand for bioanalyctical services, large number of ongoing clinical trials, presence of highly reliable, complex, and high-end pharmaceuticals, technological expansions and integration of pioneering technologies ,occurrence of lifestyle related diseases, major players present in the region. According to National Health Expenditures Report, U.S. health care spending increased 3.9 percent to reach USD 3.5 trillion or USD 10,739 per person in 2017. Gross domestic product (GDP) spending related to health care was 17.9 percent in 2017. According to International Federation of Pharmaceutical Manufacturers & Associations, The United States share of the global market will increase from 40.3% to 41% in2015 to 2020.
As per The International Federation of Pharmaceutical Manufacturers & Associations, the research-based pharmaceutical industry currently spends over USD 149.8 billion onpharmaceutical R&D per year. Moreover, due tofast development of new pharmaceutical industries, major merges and acquisitions among pharmacies,are some major factors increasing the growth of bioanalytical Testing Services market during the forecast period. For instance, Laboratory Corporation of America (LabCorp) acquired Covance. This transaction is expected to expand the biopharmaceutical reach of LabCorp globally, thus promoting higher profits and number of projects.
Asia Pacific market is witnessing strong growth due large population rate, growing prevalence of chronic diseases, rising adoption of advanced technologies. As per World Health Organisation, Chronic disease risks and deaths are increasing rapidly, especially in low and middle income countries. According to WHO, almost 23.6 million people will die from CVDs, mainly from heart disease and stroke by 2030. Also, the growth of biopharmaceutical industry in China and India is expected to grow bioanalytical testing services market over the forecast period.
Key Benefits for Bioanalytical Testing Services Market Reports –
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Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
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Bioanalytical Testing Services Market Segmentation –
Absorption Distribution Metabolism Excretion (ADME)
Pharmaceutical and Biopharmaceutical Companies
Contract Development and Manufacturing Organizations
Contract Research Organizations
By Regional & Country Analysis:- (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Table of Content
1 Study Coverage
1.1 Bioanalytical Testing Services Product
1.2 Key Market Segments in This Study
1.3 Key Manufacturers Covered
1.4 Market by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Executive Summary
2.1 Global Bioanalytical Testing Services Market Size
2.2 Bioanalytical Testing Services Growth Rate (CAGR) 2020-2025
2.3 Analysis of Competitive Landscape
2.4 Key Trends for Bioanalytical Testing Services Markets & Products
3 Market Size by Manufacturers
3.1 Bioanalytical Testing Services Production by Manufacturers
3.2 Bioanalytical Testing Services Revenue by Manufacturers
3.3 Bioanalytical Testing Services Price by Manufacturers
3.4 Mergers & Acquisitions, Expansion Plans
4 Bioanalytical Testing Services Production by Regions
4.1 Global Bioanalytical Testing Services Production by Regions
4.2 North America
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