Bioanalytical Testing Services Market: A Look at the Industry's Growth Drivers and Challenges

Emergen Research has published a novel research report titled, “Global Bioanalytical Testing Services Market Forecast to 2030”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Bioanalytical Testing Services Market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.

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. 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.

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.

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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.
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.
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.
Key players operating in the market 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.

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Key insights presented in the report:

Market revenue shares by major business players, by type, by application, and market scope of global Bioanalytical Testing Services market
Sales revenue by key players and new entrants
Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight to recent trends and opportunities

The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global Bioanalytical Testing Services market with regards to market share, market size, production and consumption ratio, product launches and RD activities, investment opportunities, and presence of key players in the region.

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

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Regional Outlook (Revenue: USD Billion; 2018–2028)

North America

U.S.
Canada
Mexico

Europe

Germany
France
U.K.
BENELUX
Italy
Spain
Switzerland
Russia
Rest of Europe

Asia Pacific

China
Japan
South Korea
India
Rest of APAC

Latin America

Brazil
Rest of LATAM

Middle East Africa

Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.

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