The Global Bioanalytical Testing Services Market size is expected to reach USD 4.33 Billion in 2028 at a steady CAGR, according to latest analysis by Emergen Research. Increasing emphasis on analytical testing of biosimilars and biologics, growing demand for outsourcing analytical testing services, and rising research and development expenditure in biopharmaceutical and pharmaceutical sectors are some key factors driving market revenue growth.
Increasing investment in biotechnological research and drug development is a major factor fueling revenue growth of global bioanalytical testing services market
Bioanalytical testing services involve quantitative analysis of compound and their metabolite in biological fluids, which includes blood, serum, urine, plasma, or tissue extracts. Bioanalytical program comprises several processes such as sample preparation, development of bioanalytical method, validation, ensuring quantitative outcome that demonstrate accuracy, selectivity, precision, and stability. Sample preparation is a process that includes cleaning up the test sample before starting analysis or concentrating the sample for improved detection.
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Leading companies profiled in the report are:
Charles River Laboratories, Medpace, Inc., Wuxi AppTec, IQVIA, Inc, SGS SA, Laboratory Corporation of America Holdings, Intertek Group plc, PRA Health Sciences, Syneos Health, and Frontage Laboratories, Inc.
Rising requirement of generic drug development, increasing investment and growing number of biotechnology companies, rising adoption of advanced technologies in bioanalytical testing services, increasing number of clinical trials conducted for oncology, and major prevalence of cancer are factors expected to drive revenue growth of the market going ahead.
Some Key Findings from the Report:
- In February 2021, Eurofins Scientific acquired Beacon Discovery. This acquisition helped Eurofins to provide a complete drug discovery experience, knowledge, and support the development of new therapeutics.
- Asia Pacific is expected to register the fastest revenue CAGR throughout the forecast period. Increasing investment in biotechnology and pharmaceutical research and development activities, rising requirement of biologic pipeline development, and growing adoption of advanced technologies in bioanalytical testing services are key factors propelling revenue growth of the market in this region.
- Serology, immunogenicity, and neutralizing antibodies segment is expected to register a 12.0% revenue CAGR throughout the forecast period. This can be attributed to increasing application of serology, immunogenicity, and neutralizing antibodies in drug development procedures.
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For the purpose of this report, Emergen Research has segmented the global bioanalytical testing services market based on type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Cell-based Assays
- Virology Testing
- Method Development Optimization and Validation
- Serology Immunogenicity and Neutralizing Antibodies
- Pharmacokinetic Testing
- Biomarker Testing
Application Outlook (Revenue, USD Billion; 2018–2028)
- Infectious Diseases
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Biopharmaceutical and Pharmaceutical Companies
- Contract Development and Manufacturing Organizations
- Contract Research Organizations
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Regional Outlook (Revenue: USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Key Reasons to Buy This Report:
- The report presents a thorough examination of the Bioanalytical Testing Services market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
- The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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A SWOT analysis is performed on the leading companies engaged in the Bioanalytical Testing Services market to offer a better understanding of the strengths, opportunities, weaknesses, and threats of the leading companies. It also covers production and consumption rate, the volatility of prices and demands, market share, market size, global position, and market position of each player. The report also analyses key elements such as growth trends, concentration area, business expansion strategies, market reach, and other key features that offer companies insightful data to fortify their position in the Bioanalytical Testing Services industry.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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