Bioanalytical Testing Services Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030

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Bioanalytical Testing Services Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030

Status : January, 2023 | Pharmaceutical

Report Digest


Bioanalytical Testing Services Market: Snapshot

The bioanalytical testing services market is projected to reach a valuation of US$ 6.0 Bn and grow at a CAGR of 15.6% in the upcoming years from 2020 to 2030.

The bioanalytical testing services market has been estimated to grow at a noteworthy pace in the forthcoming years owing to the well-established industry of pharmaceutical. Along with this, a large count of ongoing studies that are related to clinical trials has also been predicted to work as a revenue generator in the bioanalytical testing services market.

Increased expenditure on R & D activities for product development, the presence of prominent service providers, and growth across biosimilars and generics markets have also been bolstering revenue generation opportunities in the bioanalytical testing services market. Further, the biopharmaceutical and pharmaceutical companies have been increasing outsourcing laboratory, clinical, and preclinical testing services which are also expected to propel demand opportunities in the bioanalytical testing services market in the upcoming years.

The exclusivity period of biologics and impeding expiry of patents is likely to create growth opportunities in the bioanalytical testing services market with the development of novel products. On the flip side, the high cost of industry solutions is likely to restrict expansion opportunities in the bioanalytical testing services market during the forecast period.

Bioanalytical Testing Services Market: Overview

Bioanalytical testing services of various types are demanded by pharmaceutical companies in ensuring safety and efficacy of the drug molecules. Past few decades have seen the rise in popularity of bioanalytical method validation in ensuring reliability in the pharmacokinetic (PK) data. The role of the validation programs has been well established in the academia, industry, and regulatory agencies. Contract research organizations have been increasingly leaning on bioanalytical testing services for small and large molecules. Broadly, major service types can comprise cell-based assays, virology testing, method development, and optimization. Key techniques adopted by service providers are tandem mass spectrometry and nuclear magnetic resonance spectroscopy.

The study on the bioanalytical testing services market presents a critical assessment of the regulatory frameworks shaping the avenues for investments by pharmaceuticals in the market. Major trends in regulatory expectations in developed markets are scrutinized and the insights the report offers are backed by industry facts Technological advances and emerging dynamic of the life sciences industries that are expected to have long-ranging impacts on the market are analyzed. The researchers also strives to present analytics-drive assessment of current and emerging opportunities in various key service segments and the potential revenues streams in some of the developing and developed regions of the world.

Bioanalytical Testing Services Market: Key Trends

The growing pharmaceutical industry investment on outsourcing analytical testing is a key trend in the bioanalytical testing services market. A large proportion of the investments have been witnessed in the services that pertain to serology, immunogenicity, and neutralizing antibodies. The growing role of bioanalytical testing with good accuracy and precision, specificity and sensitivity in drug development programs has also shaped the contours of the market. Oncology is emerging as a markedly lucrative segment in the bioanalytical testing services market. Increasing focus of CROs on bioanalytical testing services for biosimilars and biologics has also spurred the demand. Advances in clinical pharmacology has helped boost the pace of new drug development. Hence, pre-clinical stages witness a growing demand for bioanalytical testing services. Rise in research and development of novel drug ingredients that are more disease centric has also boosted the demand in the bioanalytical testing services market.

However, there exist significant challenges in the use of bioanalysis techniques for macromolecules and small molecules. These are attracting pharma companies in bioanalytical testing services market who have been consolidating their biologic drugs pipelines. The concerns have spurred CROs and service providers to look for better methods, characteristically that are based on Good Laboratory Practice (GLP) and Good Clinical Practice (GCP).

Bioanalytical Testing Services Market: Competitive Dynamics and Key Developments

Technological advances in the platforms used for quantification of macromolecules are key to understanding of PK/PD relationship in clinical stages of drug development in bioanalytical testing services market. The adoption of automation technologies have enabled service providers obtain exposure-response data or relationships on several pharmacodynamics (PD) endpoints. Such developments have also set the tone for unveiling innovative services in the bioanalytical testing services market.

Some of the key players in the bioanalytical testing services market are;

  • Pace Analytical Services, LLC
  • Intertek group, Toxikon, Inc.
  • SGS SA
  • Syneos Health
  • ICON plc, Covance Inc.
  • PRA Health Sciences

Bioanalytical Testing Services Market: Regional Assessment

On the regional front, Asia Pacific has been emerging as the hotbed of opportunities for pharmaceutical companies. They are sourcing bioanalytical validation services in drug making by getting into deals and collaborations with the CROs in the region. The growing presence of CROs in Asia is one of the key stimulant for the rise in demand for various bioanalytical testing services. Rise in R&D in oncology drugs in North America has made the regional market an attractive one in the global bioanalytical testing services market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?

Frequently Asked Questions

The bioanalytical testing services market is likely to grow with well-established industry of pharmaceutical across the world.
North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa
Ongoing studies that are related to clinical trials has also been predicted to create growth avenues in the bioanalytical testing services market.
Significant growth in biosomilars and generics market is likely to attract trends in the bioanalytical testing services market.
The bioanalytical testing services market is intensely obstructed during pandemic operationally, economically, and socially. The market is under pressure owing to disruption in transportation, human resources, and reduced production capacity.
In the post COVID-19 time, smooth shift to the pre-pandemic life in commercial as well as residential areas is predicted to bolster growth avenues in the bioanalytical testing services market.
The high cost of industry solutions is likely to restrict growth opportunities in the bioanalytical testing services market.