The global bioanalytical testing services market is projected to reach USD 4.29 billion by 2028, growing at a CAGR of 9.8%. 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 are some of the factors driving the growth of the global bioanalytical testing services market.
Adroit Market Research report on global bioanalytical testing services market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global bioanalytical testing services market have been studied in detail.
Bioanalytical techniques are extensively used to quantitate drugs and their metabolites in plasma matrices and the procedures should be pragmatic to studies in spaces of human clinical and nonhuman study. Bioanalytical method engaged for the quantitative assessment of drugs and their metabolites in biological media and plays a significant role in assessment and elucidation of pharmacokinetic, bioequivalence, and toxicokinetic studies. The foremost bioanalytical role is method development, method validation, and sample examination.
The global bioanalytical testing services market is categorized 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. Majority of the generic and proprietary drug composites are of the small molecule group. Moreover, with the patent running out of several best seller drugs, generic producers are obligatory to conduct and give in to bioanalytical testing results.
North America dominated the market for bioanalytical testing services in 2020, while Asia Pacific is set to grow at a highest CAGR due to growth in the outsourcing services. Key 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.
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