Bioanalytical Testing Services Market Size to Reach USD 4.33 Billion in 2028 Growing at a CAGR of 11.5%, according to Emergen Research

Emergen Research has published its latest report titled “Bioanalytical Testing Services Market, By Type (Cell-based Assays, Virology Testing, Method Development Optimization and Validation, Serology Immunogenicity, and Neutralizing Antibodies, Pharmacokinetic Testing, Biomarker Testing, Others), By Application (Neurology, Oncology, Infectious Diseases, Cardiology, Gastroenterology, Others), By End-use (Biopharmaceutical and Pharmaceutical Companies, Contract Development and Manufacturing Organizations, Contract Research Organizations), and By Region, Forecast to 2028”

According to Emergen Research, the global bioanalytical testing services market size was USD 1.80 Billion in 2020 and is expected to reach USD 4.33 Billion in 2028 and register a revenue CAGR of 11.5% during the forecast period, 2021-2028.

Market Dynamics:

The global bioanalytical testing services market revenue growth is majorly driven by factors such as rapid adoption of advanced bioanalytical testing methods, rising need for analytical testing of biologics and biosimilars, increasing demand for bioanalytical testing services outsourcing, and increasing research and development activities in the biotechnology and pharmaceutical industries. Rising adoption of the Quality by Design (QbD) approach in biotechnology, growing need for development of generic drugs, and increasing government investments in biotechnological research & development projects are some of the other major factors expected to drive market revenue growth over the next few years. Bioanalytical testing services offer quantitative measurement of various compounds and their metabolites in blood, urine, serum, plasma, and other biological fluids. Bioanalytical testing involves several methods such as sample preparation, validation, and ensuring accurate quantitative outcome. Commonly known bioanalytical testing techniques include liquid chromatography-mass spectrometry (LC-MS), capillary electrophoresis-mass spectrometry (CE-MS), gas chromatography & mass spectrometry (GC & MS), and high-performance liquid chromatography (HPLC), among others.

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COVID-19 Impact Analysis:

• Social distancing and restrictions severely disrupted businesses and operations
• Lockdowns caused disruptions in transportation and logistics
• Impacted manufacturing activities and mining operations globally
• Took a toll on economy of various countries
• Caused sudden and drastic downturn in economic activity
• Disrupted agriculture, fisheries, dairy, and other sectors
• Caused loss of employment and financial crisis
• Supply impacts were further compounded owing to reduced disposable income
• Emergence of variants  continue to cause concerns and impact normal routines

Serology Immunogenicity and Neutralizing Antibodies Segment Accounted for Largest Revenue Share in 2020:

Based on type, the global bioanalytical testing services market is segmented into cell-based assays, virology testing, method development optimization and validation, serology immunogenicity and neutralizing antibodies, pharmacokinetic testing, biomarker testing, and others. The serology immunogenicity and neutralizing antibodies segment dominated other segments in terms of largest revenue share in the global market in 2020. Increasing applications of serology immunogenicity and neutralizing antibodies in novel drug discovery & development are among the key factors driving this segment’s revenue growth.

Biopharmaceutical and Pharmaceutical Companies Segment to Account for Fastest Revenue CAGR:

Based on end-use, the global bioanalytical testing services market is segmented into biopharmaceutical and pharmaceutical companies, contract development and manufacturing organizations, and contract research organizations (CROs). The biopharmaceutical and pharmaceutical companies segment is expected to register the fastest revenue CAGR in the global market over the forecast period, owing to key factors such as increasing biopharmaceutical and pharmaceutical R&D activities and growing need for bioanalytical testing services outsourcing during early stages of drug development.

North America Market Accounted for Largest Revenue Share in 2020:

The North America bioanalytical testing services market dominated other regional markets in terms of largest revenue share in 2020. Factors supporting the North America market revenue growth are rapidly thriving pharmaceutical and biotechnology industries in the region, growing number of drug development projects and clinical trials, rising prevalence of chronic and acute diseases, and increasing need for bioanalytical testing services to ensure the safety and efficacy of drugs. Presence of leading market players in the region, including Charles River Laboratories, IQVIA, Inc., and Laboratory Corporation of America Holdings, is another key driver for the regional market growth.

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Major Companies in the Global Bioanalytical Testing Services Market Include:

• Charles River Laboratories
• Medpace, Inc.
• Wuxi AppTec
• IQVIA, Inc.
• SGS SA
• Laboratory Corporation of America Holdings
• Intertek Group plc
• PRA Health Sciences
• Syneos Health
• Frontage Laboratories, Inc.
• Others

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
• Others

Application Outlook (Revenue, USD Billion; 2018–2028)

• Neurology
• Oncology
• Infectious Diseases
• Cardiology
• Gastroenterology
• Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

• Biopharmaceutical and Pharmaceutical Companies
• Contract Development and Manufacturing Organizations
• Contract Research Organizations (CROs)

Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/bioanalytical-testing-services-market

Region Outlook (Revenue, USD Billion; 2018-2028)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • U.A.E.
  • South Africa
  • Turkey
  • Rest of Middle East & Africa

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About Emergen Research

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