The global bioanalytical testing services market was valued at USD 2.04 billion in 2020 and is projected to grow at a CAGR of 9.8% during the forecast period. Factors driving the growth of the bioanalytical testing services market include growing emphasis on the analytical testing of biologics and biosimilars, rising R&D spending in the pharmaceutical and biopharmaceutical businesses and upsurge in intricacy and number of standards.
The global bioanalytical testing services market is segmented based on molecule type, test type and end user. On the basis of molecule type, the market is segmented into small molecule and large molecule. The small molecule segment dominated the market in 2020. On the basis of test type, the market is segmented into bioavailability and bioequivalence studies, pharmacokinetics, pharmacodynamics and other test types.
Regionally, North America accounted for the largest market share of the global bioanalytical testing services market attributable to the fact that it is lone of the best manufacturing pivots of extremely reliable, intricate, and high-end pharmaceuticals. Leading players of the global bioanalytical testing services market include Particle Sciences, Toxikon, Inc., Sartorius Stedim BioOutsource Limited., Lotus Labs Pvt. Ltd., PPD, Charles River Laboratories International, Inc., ICON plc, LabCorp, Pace Analytical Services, LLC., Covance Inc., inVentiv Health among others.
Bioanalytical Testing Services Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 4.29 billion|
|Growth Rate||CAGR of 9.8% during 2021-2028|
|Segment Covered||Molecule Type, Test Type, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||Particle Sciences, Toxikon, Inc., Sartorius Stedim BioOutsource Limited., Lotus Labs Pvt. Ltd., PPD, Charles River Laboratories International, Inc., ICON plc, LabCorp, Pace Analytical Services, LLC., Covance Inc., inVentiv Health among others.|
Key segments of the global bioanalytical testing services market
Molecule Type Overview, 2018-2028 (USD Billion)
- Small Molecules
- Large Molecules
Test Type Overview, 2018-2028 (USD Billion)
- Bioavailability and Bioequivalence Studies
- Other Test Types
End User Overview, 2018-2028 (USD Billion)
- Pharmaceutical and Biopharmaceutical Companies
- Contract Development and Manufacturing Organizations
- Contract Research Organizations
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
Reasons for the study
- The rapid increase in the manufacturing of pharmaceuticals to meet the rising demand for efficient healthcare
- The economic efficiency offered for outsourcing rather than conducting an in-house study
- Rising adoption of the Quality By Design approach
What does the report include?
- The study on the global bioanalytical testing services market includes qualitative factors such as drivers, restraints and opportunities
- The study covers qualitative and quantitative analysis of the market segmented on the basis of molecule type, test type and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global bioanalytical testing services market is suitable for all the players across the value chain including product manufacturing companies, suppliers/distributors, R&D labs, CROs, healthcare organizations, medical reimbursement and insurance providers
- Venture capitalists and investors looking for more information on the future outlook of the global bioanalytical testing services market
Consultants, analysts, researchers, and academicians looking for insights shaping the global bioanalytical testing services market
A bioanalytical method is a set of events tangled in the gathering, processing, storage, and analysis of a biological matrix for a chemical compound. Bioanalytical method validation (BMV) is the procedure used to create that a quantitative analytical method is appropriate for biomedical applications. Reassurances as to the eminence of the method and its consistency come from embracing a minimum series of validation trials and attaining satisfactory results. Characterization of the steadiness of analytes in biological samples collected in the course of clinical studies together with that of perilous assay reagents, comprising analyte stock solutions, is acknowledged as a vital component of bioanalytical assay validation. Bioanalytical method validation contains all of the techniques that exhibit that a specific method used for quantitative measurement of analytes in a certain biological matrix, for instance blood, plasma, serum, or urine, is consistent and reproducible for the intentional use.
On the basis of end user, the market is segmented into pharmaceutical and biopharmaceutical companies, contract development and manufacturing organizations, and contract research organizations. CROs are to achieve a larger market share in a competitive bioanalysis market, they need a vigorous data management solution that increases workflow competence, streamlines the application background for the scientist and addresses the substantial QC burden of every study because of this, we anticipate to see the rate of CRO software implementation increasing considerably in the impending years. The intricacy of systems for defining, testing, examining and recording on sample analysis runs sorts bioanalysis a major candidate for cutting-edge data management and mechanization of common workflows and reports. To augment both the speed and quality of their bioanalysis, CROs want a solution that can bring momentous efficiency progresses, incorporate with other lab informatics and can deal with the precise needs of the broad range of studies executed.
Asia Pacific is anticipated to observer the fastest growth rate over the forecast period. At present the world’s second biggest economy, China is a market with boundless possibility for pharma. Nevertheless Chinese regulators habitually require Phase 1 trials counter to a Chinese inhabitants, even for drugs permitted in other markets. This means bioanalytical testing in China is developing swiftly to provision clinical trials for prevailing western therapies, novel entities and the Chinese medicine market. Predictably over the preceding ten years the Chinese bioanalysis market has developed speedily with native CROs, allied laboratories and international CROs all nowadays providing services to the Chinese and international marketplaces. To address the distress over sustaining quality standards, the China Food and Drug Administration (CFDA) has revamped its regulations and declared a wide-ranging submission review framework and a fresh self-inspection prerequisite which licenses sponsors to take out any submissions if data integrity or compliance matters are found. Chinese bioanalysis services are nowadays arriving at a global standard and if the stride of regulations is preserved, with much-needed enlargements to sample shipping and import rules, then we ought to presume to see an upswing in China-based bioanalytical CROs functional on the open market.