#Large Molecule Bioanalytical Testing Services Market 2021

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Japan Bioanalytical Testing Services Market Overview, Trends & Forecast 2022 to 2030

Astute Analytica created the Global Japan Bioanalytical Testing Services Market Research Report based on a thorough understanding of the client’s needs.

This research offers details on the regional and worldwide market conditions as they are right now. This offers insightful information on the world market. This industry analysis report provides specifics on market forces, market constraints, and their impact on market demand going forward. The market research provides a broad overview of this sector.

The Japan Bioanalytical Testing Services Market is projected to make a forward leap in its revenue from US$ 63.5 Mn in 2021 to US$ 166.9 Mn by 2030. The market is registering a CAGR of 11.6% over the forecast period 2022–2030.

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The report includes data on businesses, app categories, nations, and geographies. These reports include data on trade, investments, sales, and turnover. The impact of COVID-19 on the upstream, midstream, and downstream businesses is examined via market research. This research uses statistics to analyze a number of different aspects of the industry.

The report on the worldwide Japan Bioanalytical Testing Services Market looks at prospective expansion in various applications and geographical areas. The impact of industry demography and industry growth are examined in this study. The study looks at preferred channels, domain drivers, and market dynamics in emerging markets. There are also restraints in it. Prices, revenues, revenue growth, and production costs were all analyzed.

The elements in this study have the potential to significantly impact market expansion throughout the projected period. Access to the necessary data is made simple by the availability of a market dashboard with all the specifics. There are various components to the Japan Bioanalytical Testing Services Market Analysis and Future Outlook. This report contains facts and information that can help businesses decide more wisely and increase their return on investment (ROI). CAGR figures are used in this study to quantify changes in or increases in product demand throughout a predicted period.

Leading Companies

The key players in the Japan Bioanalytical Testing Service Market are Syneos Health Inc., Laboratory Corporation of America, Charles River Laboratories Inc, ICON Plc, among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

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Segmentation Outline

The following are the various segments of the Japan Bioanalytical Testing Services Market.

By Test Type segment of the Japan Bioanalytical Testing Services Market is sub-segmented into:

Cell-based Assays

Bacterial cell-based assays

Viral cell-based assays

Virology Testing

In Vitro Virology Testing

In Vivo Virology Testing

Species-specific Viral PCR Assays

Method Development Optimization and Validation

Serology, Immunogenicity, and Neutralizing Antibodies

Biomarker Assays

LBA/LC-MS/MS

Pharmacokinetic Testing

Others

By Molecule Type segment of Japan Bioanalytical Testing Services Market is sub-segmented into:

Small Molecule Bioanalysis

Large Molecule Bioanalysis

Others

By Application segment of Japan Bioanalytical Testing Services Market is sub-segmented into:

Oncology

Neurology

Infectious Diseases

Gastroenterology

Cardiology

Others

By End User segment of Japan Bioanalytical Testing Services Market is sub-segmented into:

Pharma & Biotechnology Companies

Contract Research Organizations

Others

Important Developments in the Japan Bioanalytical Testing Services Market:

The report examines manufacturers’ profiles, news, main companies, and revenue.

To demonstrate the intense competition that the top manufacturers in the world deal with.

Presenting the market by kind and application, along with each type’s revenue, sales, and growth rates.

An examination of the major nations in North America according to manufacturer, application, and kind. Southeast Asia and Europe. Latin America. Sales, turnover, and market shares for manufacturers.

The report examines the manufacturing expenses, raw resources, and production process.

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About Astute Analytica: Astute Analytica is a renowned global analytics and advisory company, having swiftly established a strong reputation through the tangible and impressive results delivered to our valued clients. Our commitment lies in providing unparalleled, in-depth, and remarkably accurate estimates and projections to demanding clients across diverse industries, such as technology, healthcare, chemicals, semiconductors, FMCG, and more, drawing from a wide spectrum of satisfied and returning customers from around the world.

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[neha24blog]

Large Molecule Bioanalytical Testing Services Market In-Depth Research On Basis Of Phase, Type, Test Type, Therapeutic Area, End-User, Region And Forecast To 2028  : Grand View Research Inc.

Large Molecule Bioanalytical Testing Services Market In-Depth Research On Basis Of Phase, Type, Test Type, Therapeutic Area, End-User, Region And Forecast To 2028  : Grand View Research Inc.

San Francisco, 23 Feb 2022: The Report Large Molecule Bioanalytical Testing Services Market Size, Share & Trends Analysis Report By Phase (Preclinical, Clinical), By Test Type (PK, PD), By Type, By Therapeutic Area, By End User, And Segment Forecasts, 2021 – 2028 The global large molecule bioanalytical testing services market size is expected to reach USD 3.0 billion by 2028, according to a new…

[healthcare-domain]

The Future of Bioanalytical Testing Services Market

[208 Pages Report] The global bioanalytical testing services market is projected to reach USD 6.0 billion by 2027 from an estimated USD 2.9 billion in 2022, at a CAGR of 15.6% during the forecast period. In 2021, North America accounted for the largest share of the market, followed by Europe.

The major factors influencing the growth of the North American market include the well-established pharmaceutical industry, strong presence of major service providers, large number of ongoing clinical trial studies, high R&D expenditure, growth in the biosimilars and generics markets, and the rise in the outsourcing of preclinical, clinical, and laboratory testing services by pharmaceutical and biopharmaceutical companies in the region.

The COVID-19 pandemic has led to a global healthcare crisis, resulting in widespread economic impact since January 2020. In the optimistic scenario, it could be assumed that the COVID-19 pandemic would create a long-term positive impact on the overall market.

The market was initially negatively impacted by the COVID-19 pandemic. Along with the rest of the world, the pharmaceutical companies shut down their laboratories and industry work was stopped in order to mitigate the pandemic effects. Furthermore, the on-site personnel restrictions had biggest impact on pharmaceutical businesses. Most of the large Pharma companies were completely shut down momentarily.

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Additionally, the clinical sites also experienced reduced enrolment and restricted staff. These challenges combined to reduce anticipated trial sizes and created substantial delays in study timelines. Though, recovery can be seen in most regions, particularly North America and Europe, as services regain normality.

The Asia Pacific market has been sluggish to recover, notably in China and India. In an optimistic scenario, the need for smoother workflows and faster turnaround times could boost the market growth.

Biologics represent one of the most promising new therapeutic areas and are becoming increasingly important in the pharmaceutical market; around 800 products are in the pipeline at present. One of the key reasons for this is the rising prevalence of chronic diseases. However, considering the high cost of biologics and the rising focus of various governments on reducing healthcare costs, the focus on biosimilars has increased in recent years.

Currently, many pharmaceutical and biopharmaceutical companies are focusing on building a diverse product portfolio and developing new small and large molecules. Combination products, delivery devices, and reformulated or re-engineered drugs are being developed by companies to cater to the unmet needs in the market.

Key players in the Bioanalytical testing services market: Charles River (US), Medpace (US), WuXi AppTec (China), Eurofins Scientific (Luxembourg), IQVIA (US), SGS SA (Switzerland), Laboratory Corporation of America Holdings (US), Intertek Group (UK), Syneos Health (US), ICON (Ireland), Frontage Labs (US), PPD (US), PAREXEL International Corporation (US), Almac Group (UK), Celerion (US), Altasciences (US), BioAgilytix Labs (US), Lotus Labs (India), LGS Limited (UK), Sartorius AG (Germany), CD BioSciences (US), Absorption Systems LLC (US), Pace Analytical Services (US), Bioneeds India Private Limited (India) and Vipragen Biosciences (India).

[accurizemarketresearch]

Bioanalytical Services Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2020 – 2030

The Global Bioanalytical Services Market was valued at Us$ 5.57 Billion in 2021 and is predictable to reach US$ 11.42 billion by 2030 which is projected to reach a CAGR of 8.3 % during the forecast period from 2021- 2030.

Bioanalysis is termed as a branch of analytical chemistry that deals with the biological samples for the analysis of measuring biological molecules, large molecules, and DNA. Bioanalytical services comprise pre-clinical tests, analysis of clinical samples, fluid or specimen testing, investigation of infection of viruses inside the body, among others.

[waquasuniverse]

Large Molecule Bioanalytical Testing Services Market Worth $3.0 Billion By 2028

Large Molecule Bioanalytical Testing Services Market Worth $3.0 Billion By 2028

The global large molecule bioanalytical technologies market size is expected to reach USD 13.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 13.5% from 2021 to 2028. The demand for bioanalytical testing services has significantly increased over the past few years, thereby positively impacting the growth of the market. This…

[karishmamulani]

Bioanalytical Testing Services Market Size, Outlook, Key Prospects And Future Growth

Bioanalytical Testing Services Market Size, Outlook, Key Prospects And Future Growth

The global bioanalytical testing services market size is expected to reach USD 6.34 billion by 2028 according to a new study by Polaris Market Research. The report “Bioanalytical Testing Services Market Share, Size, Trends, Industry Analysis Report, By Molecule Type (Small Molecule, Large Molecule); By Test Type; By Workflow; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into…

[decisionforsight]

Global Bioanalytical Testing Services Market

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

Bioanalytical testing is an analytical process used for the analysis of biotechnological and biological products. These testing methods are majorly used for drug discovery, drug development, and commercialisation of drugs. Bioanalytical testing services include diversified areas of expertise, which aids in the development of drugs in various geographical regions and for several different therapeutic areas. Bioanalytical testing services ensure that the drugs are well synchronized with current regulatory standards. The advent of bioanalytical testing methods is likely to revolutionize the healthcare and pharmaceutical industry in the coming years. The global bioanalytical testing services market accounted 3.2 billion USD in 2020 and is expected to reach 6.8 billion USD by 2030 with a CAGR of 7.8% approximately during the forecast period.   

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Market Dynamics and Factors:

The global prevalence of chronic diseases such as HIV, cancer has attributed to the rise in demand of bioanalytical testing services. The increasing applications of bioanalytical tests in clinical trials of biomarkers, small and large molecules is another major factor driving the bioanalytical testing services market growth. Additionally, factors like increasing awareness level, intense market efforts, government initiatives, and improving accessibility has led to the higher consumption of pharmaceutical products. This in turn has propelled the market growth of bioanalytical testing and services market. However, dearth of skilled professionals for research purposes and lack of infrastructure in many regions may hinder the market growth of the bioanalytical testing and services market. Moreover, rising outbreak of highly infectious diseases like COVID-19 disease and government initiatives on healthcare has created more opportunities for the bioanalytical testing market to grow in the coming future. For instance, according to the World Health Organization, as of February 2020 more than 100000 people have been affected by COVID-19 disease out of which approximately 2600 people have died across the globe. Furthermore, majority of high selling drugs are going off patent which is again creating more opportunities for the bioanalytical testing services market to grow in the near future.

Market Segmentation:

Global Bioanalytical Testing Services Market – By Molecule Type

Small Molecule

Large Molecule

Lc-Ms Studies

Immunoassays

Others

Global Bioanalytical Testing Services Market – By Test Type

Adme

In-Vitro

In-Vivo

Pharmacokinetic

Pharmacodynamic

Bioavailability

Bioequivalence

Others

Global Bioanalytical Testing Services Market – By Geography

North America

U.S.

Canada

Mexico

Europe

U.K.

France

Germany

Italy

Rest of Europe

Asia-Pacific

Japan

China

India

Australia

Rest of Asia Pacific

ROW

Latin America

Middle East

Africa

New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request TOC at @ https://www.decisionforesight.com/toc-request/DFS020164

Geographic Analysis:

North America is expected to dominate the global bioanalytical testing services market in terms of market share during the forecast period. The presence of a large number of key players; rising demand for bioanalytical services with a huge volume of ongoing research and clinical trials; and highly advanced and robust healthcare infrastructure are the major factors attributing towards the market dominance of the region. For instance, in February 2020, SGS SA announced that its Centre of Excellence for Biosafety laboratory offers GMP compliant vaccine testing solution for coronavirus. In 2019, the amenities of bio-safety laboratory were expanded to increase their capability and capacity to offer testing services for new viral threats using rapid and advanced testing platforms. Such strategic expansions are anticipated to have a positive impact on the bioanalytical testing market. The Asia Pacific region is anticipated to witness significant growth in the market during the forecast period. Rising investments by bioanalytical testing services companies in the region; growing number of companies relying on bioanalytical testing services, and favourable business and regulatory reforms are attributing to the expansion of the global bioanalytical testing services market in APAC region.     

Competitive Scenario:

The key players operating in the global bioanalytical testing services market are –

Particle Sciences, Charles River Laboratories, Pace Analytical Services, Toxikon Inc., LabCorp, Covance, Wuxi App Tec, Intertek Group, InVentiv Health, ICON Plc.

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How will this Market Intelligence Report Benefit You?

The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.

Exclusive insight into the key trends affecting the Global Bioanalytical Testing Services industry, although key threats, opportunities and disruptive technologies that could shape the Global Bioanalytical Testing Services Market supply and demand.

The report tracks the leading market players that will shape and impact the Global Bioanalytical Testing Services Market most.

The data analysis present in the Global Bioanalytical Testing Services Market report is based on the combination of both primary and secondary resources.

The report helps you to understand the real effects of key market drivers or retainers on Global Bioanalytical Testing Services Market business.

The 2021 Annual Global Bioanalytical Testing Services Market offers:

100+ charts exploring and analysing the Global Bioanalytical Testing Services Market from critical angles including retail forecasts, consumer demand, production and more

15+ profiles of top producing states, with highlights of market conditions and retail trends

Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand

Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Bioanalytical Testing Services Market type

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Global Pharmaceutical Testing and Analytical Services Market Research Report 2021 Analysis and Forecast 2027

Global Pharmaceutical Testing and Analytical Services Market is valued approximately USD 3.50 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.00 % over the forecast period 2020-2027. Pharmaceutical testing and analytical services serve a variety of purposes and used to identify the chemical composition and molecular structure of each individual substance contained in a medication. This approach is mainly used to provide insights into a drugs performance and safety considerations. Also, these services can predict the medications ability to reach to specific target within a body. Presently, the outbreak of coronavirus has put an immense pressure on life sciences sector to innovate in treatments and vaccines. Also, there is an unprecedented demand for technical support pertaining to finished product and raw material testing. As a result, companies in the pharmaceutical testing and analytical services market are meeting demand pertaining to the discovery and development of small-molecule drugs and vaccines. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. Growing need for the development and cost reduction of core competencies by pharmaceutical companies and the rising acceptance of outsourcing would drive the growth of the market during the forecast period of 2020-2027. As per Pharmaceutical Research and Manufacturers of America report of 2018, biopharmaceutical research companies in U.S. are developing 200 medicines for heart diseases, 537 medicines for neurological disorders, 260 vaccines enhancing research and development activities. As per the Canadian Government, total research and development expenditure in scientific research by Canada accounted for $7,612 million in 2017/2018. Hence, pertaining the above facts, OBRC analysis finds North America as the second most favorable region for investment over the forecast period (2017-2024). However, the lack of skilled professional is hampering the growth of the market during the forecast period of 2020-2027.

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The regional analysis of global Pharmaceutical Testing and Analytical Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the well-established healthcare infrastructure and familiarity with the regulatory scenario. Also, the dominance of the region is witnessed owing to the growing need for the development and cost reduction of core competencies by pharmaceutical companies. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are: Eurofins Scientific Laboratory Corporation of America Holdings Charles River Laboratories International, Inc. SGS S.A Intertek Group plc RD Laboratories, Inc WuXi AppTec Co., Ltd. DYNALABS LLC (Infinity Laboratories) ARL Bio Pharma

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Service Type: Bioanalytical Testing Method Development & Validation Raw Material Testing Stability Testing Microbial Testing Others

By End-User: Medical Device Companies Pharmaceutical & Biopharmaceutical Companies Others

By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE

Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018 Base year - 2019 Forecast period - 2020 to 2027

Target Audience of the Global Pharmaceutical Testing and Analytical Services Market in Market Study:

Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors

Continuous...

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[healthcarebiz]

Evolving Pharmaceutical Ecosystem Transforms Clinical Trials and Research Outsourcing

Access to advanced research tools will expand growth opportunities for CRO participants, finds Frost & Sullivan's Transformational Health team

SINGAPORE, June 15, 2017 /PRNewswire/ -- The clinical trials and research outsourcing (CRO) market is growing, leveraging the global pharmaceutical industry's urgent need to succeed in late clinical trials and build the pipeline of new molecules. While cost benefits, focus on core competencies, rise in innovative therapeutic options, and increased drug efficacy and safety norms will continue to encourage global pharma companies to outsource, CROs must increase their range of services to better serve, and become the preferred partner to, bio-pharmaceutical companies.

"Expanding CRO services into early stages of drugs, emergence of virtual biotech, out-licensing, and risk sharing between pharma and CROs are disrupting traditional business models," noted Transformational Health Research Analyst Sanjeev Kumar. "They are also opening up greater opportunities for CROs in terms of access to a huge market, newer areas such as commercial and post-launch, bioanalytical testing and development services, and partnerships with small-to-midsize biotech and virtual pharma customers."

Global CRO Market, Forecast to 2021, new research from Frost & Sullivan's Life Sciences Growth Partnership Service program, finds that the CRO market will reach revenues of US$64.58 billion by 2021. The study is an overview and analysis of the global CRO market by phase, therapeutic type, and region. It also profiles some of the game changers in the market, including SGS Life Sciences with its wide range of analytical, bioanalytical and clinical trial testing services and process management capabilities; LabCorp-Covance with its leading-edge clinical laboratory testing services; and WuXi AppTec, an integrated clinical trials company providing leading open-access R&D capability.

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"Globalization of trials, which is a prerequisite for drug development, continues to bolster pharma company outsourcing of research and drug clinical testing to CROs with a global presence, instead of employing their in-house R&D resources," said Kumar. "Offering specialized research technologies for drug development will help CROs compete against in-house R&D services."

Some avenues of strong growth for CRO market participants include:

Mergers, acquisitions and collaborations to strengthen portfolios

Expanding services into the early stage lifecycle of drugs to capture projects earlier in drug development

Offering innovative technical capabilities in niche drug discovery

Developing novel compounds, complex generic drugs and biosimilars

Support services such as data management, biostatistics, health economic outcome research (HEOR), and central laboratory services

Phase III clinical trials, which accounted for 21.2 percent of total CRO outsourcing in 2016 and will continue to be a high-revenue segment

Pharmacovigilance, which has strong growth forecast until 2021

eClinical trials to improve operational effectiveness in managing clinical trial data

Virtual CRO models that can bring down costs, and functional service provider (FSP) models that address skilled manpower shortages

Focus on booming therapeutic segments such as research for oncology, metabolic disorders, cardiovascular diseases (CVD), and central nervous system (CNS) disorders

"The volume of outsourcing to emerging markets is expected to increase significantly, even as North America retains a large portion of the high-value business," added Kumar. "While lower-cost locations present lesser margins in the short term, this will be offset by the increased volume share. Expanding capacity and scale will help CROs improve their margins in the near future."

Key CRO players across regions include QuintilesIMS, INC Research, Parexel International, Pharmaceutical Product Development (PPD), Charles River Laboratories, inVentiv Health, PRA Health Sciences, ICON plc, Eurofins Scientific, and Amatsigroup.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Global CRO Market, Forecast to 2021 P94F-52

Contact: Carrie Low Corporate Communications - Asia-Pacific P: +603 6204 5910 F: +603 6201 7402 E: carrie.low@frost.com

Melissa Tan Corporate Communications - Asia-Pacific P: +65 6890 0926 F: +65 6890 0999 E: melissa.tan@frost.com

http://ww2.frost.com

Read this news on PR Newswire Asia website: Evolving Pharmaceutical Ecosystem Transforms Clinical Trials and Research Outsourcing

[neha24blog]

Large Molecule Bioanalytical Testing Services Market Size Is Expected To Reach USD 3.0 Billion By 2028: Grand View Research Inc.

Large Molecule Bioanalytical Testing Services Market Size Is Expected To Reach USD 3.0 Billion By 2028: Grand View Research Inc.

San Francisco, 29 Sep 2021: The Report Large Molecule Bioanalytical Testing Services Market Size, Share & Trends Analysis Report By Phase (Preclinical, Clinical), By Test Type (PK, PD), By Type, By Therapeutic Area, By End User, And Segment Forecasts, 2021 – 2028 The global large molecule bioanalytical testing services market size is expected to reach USD 3.0 billion by 2028, according to a new…

[waquasuniverse]

Large Molecule Bioanalytical Technologies Market Prophesied to Grow at a Faster Pace By 2028

Large Molecule Bioanalytical Technologies Market Prophesied to Grow at a Faster Pace By 2028

The global large molecule bioanalytical technologies market size is expected to reach USD 13.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 13.5% from 2021 to 2028. The demand for bioanalytical testing services has significantly increased over the past few years, thereby positively impacting the growth of the market. This…

[neha24blog]

Bioanalytical Testing Services Market Size Is Expected To Reach USD 6.3 Billion By 2028: Grand View Research Inc.

Bioanalytical Testing Services Market Size Is Expected To Reach USD 6.3 Billion By 2028: Grand View Research Inc.

San Francisco, 29 April 2021: The Report Bioanalytical Testing Services Market Size, Share & Trends Analysis Report By Molecule Type (Small Molecule, Large Molecule), By Test Type (ADME, PK, PD, Bioavailability, Bioequivalence), By Workflow, By Region, And Segment Forecasts, 2021 – 2028 The global bioanalytical testing services market size is anticipated to reach USD 6.3 billion by 2028,…

[blueweave]

Global Bioanalytical Testing Services Market Projected to Reach Worth USD 5.1 Billion in 2027

A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global bioanalytical testing services market was worth USD 2.7 billion in 2020 and is further projected to reach USD 6.1 billion by 2027, at a CAGR of 12.1% during the forecast period (2021-2027). Increasing awareness among the people regarding the benefits of bioanalytical testing services is driving the market growth. Additionally, the efficiency offered by outsourcing lab services as compared to conducting an in-house study is encouraging the outsourcing of such services, which is likely to boost the demand over the forecast period. Also, innovation or new molecule development is propelling the demand of the bioanalytical testing market.

Increased Number of Outsourcing Laboratories Service

Outsourcing lab projects provide several benefits such as financial and performance benefits, quality control, research, and improved product development services. Additionally, it leads to the commercialization of labs, which in turn benefits laboratory staff by helping them gain global career opportunities besides driving the growth of global bioanalytical testing services. Also, outsourcing laboratory services gives more time to public and government organizations to focus on other business aspects. Furthermore, these laboratory services are effective in providing more precise outcomes of the trials which further drive the overall global bioanalytical testing service market.

Rising Focus on the Analytical Testing of Biosimilars

According to a study published in 2017, there were 6·8 million cases of IBD globally. The age-standardized prevalence rate increased from 79·5 (75·9–83·5) per 100,000 population in 1990 to 84·3 (79·2–89·9) per 100 000 population in 2017. The main benefit of using biosimilar for patients with inflammatory bowel disease (IBD) is reduced drug acquisition costs. Biosimilars aren't generic drugs; they are almost similar to the original biologic agents—but, like generics, they're less expensive than the originals. Biosimilars are less costly than originator biologic agents primarily because biosimilars do not have to undergo the intensive clinical development process associated with the approval of an originator. Furthermore, biosimilars do not require high costs for marketing, market access, and postmarketing research and development. As a result, it allows for cost savings, which can then be passed on to customers and payers. The aforementioned are the key factors driving the growth of the global bioanalytical testing service.

Global Bioanalytical Testing Services Market: By Application

Based on application, the global bioanalytical testing services market is categorized into oncology, neurology, infectious diseases, gastroenterology, cardiology, and other applications. Oncology caters to the largest share in the application segment in this market. This growth is primarily due to the increasing number of clinical trials conducted for oncology by government institutions and pharmaceutical companies, and the rising prevalence of cancer worldwide. With the increasing number of cancer cases worldwide, both government and private organizations are increasingly focusing on developing novel cancer therapies for the people.

According to The World Health Organization, there was a total of 19.3 million cancer cases in 2020. By 2040, the cases are likely to reach 30.2 million. Lung, prostate, colorectal, stomach, and liver cancer are the most common types of cancer in men, while breast, colorectal, lung, cervical, and thyroid cancer are the most common among women. As a result, the demand for cancer therapies is witnessing an upward trend, which is further fueling the demand for bioanalytical testing services.

Impact of COVID-19

Government authorities across the globe proposed stringent public health measures to restrict the virus's spread after COVID-19 was declared as a pandemic. Owing to the restrictive measures and lack of supplies, cancer research centers, cancer treatment hospitals and cancer organizations have seen their operations suffer significantly.

Thus, the global bioanalytical testing services saw a downfall in the market due to COVID-19. Moreover, limited access to clinics, combined with social distancing norms, and complete lockdown declared by several countries, resulted in a slow-down in patient flow and referral, which in turn has impacted the market growth. During the COVID-19 epidemic, cancer screenings fell sharply. Repeated screening for cervical cancer went down by 68% across the USA in the first 15 weeks of 2020, while breast cancer checking went down by 17%, with more significant declines in areas where the outbreak was sturdiest.

 Global Bioanalytical Testing Services Market: Regional Insights

Geographically, the global bioanalytical testing services market is categorized into North America, Europe, the Asia-Pacific, the MiddleEast & Africa, and Latin America. The Asia-Pacific is likely to be the fastest-growing region over the forecast period owing to the increase in the number of a large pool of patients, especially in India and China. According to Asian Diabetic Initiative, 60% of diabetics in the world live in Asia. 113.9 million adults have diabetes in China which is 11.6% of the adult population. Also, 65.1 million adults in India has diabetes. The increasing number of diabetic patients is expected to increase the demand for bioanalysis of the novel (large molecule compounds) peptide therapeutics. Additionally, increased healthcare awareness, and the growing demand for early diagnosis of patients in the Asia-Pacific, along with a growth in outsourcing activities are driving the market growth.

 Competitive Landscape

The bioanalytical testing services market's high growth potential has drawn a slew of new entrants, creating a lucrative opportunity. The emergence of new entrants has resulted in healthier competition among long-established service providers.

Some of the key players in the Global Bioanalytical Testing service market are Charles River Laboratories, Medpace, Wuxi Apptec, Eurofins Scientific, Iqvia Inc., Sgs Sa, Laboratory Corporation of America Holdings, Intertek Group Plc, Pra Health Sciences, Syneos Health, Icon Plc, Frontage Labs, and other prominent players. In order to improve their production capability, product portfolio, and provide competitive differentiation, companies are increasingly participating in acquisitions, alliances, and mergers.

On 17 February 2021, Charles River Laboratories announced the acquisition of Cognate BioServices, a premier cell and gene therapy contract development and manufacturing organization (CDMO), and Cobra Biologics, its gene therapy division. Charles River will become a leading science partner for cell and gene therapy advancement, testing, and manufacturing as a result of the proposed acquisition, offering clients an integrated solution from early research and discovery through CGMP processing.

Don’t miss the business opportunity of the global bioanalytical testing services market. Consult our analysts to gain crucial insights and facilitate your business growth.

 The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global bioanalytical testing services market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the ­­­bioanalytical testing services market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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Bioanalytical Testing Services Market To Reach $ 6.3 Billion By 2028: Grand View Research Inc.

Bioanalytical Testing Services Market To Reach $ 6.3 Billion By 2028: Grand View Research Inc.

San Francisco, 22 Feb 2021: The Report Bioanalytical Testing Services Market Size, Share & Trends Analysis Report By Molecule Type (Small Molecule, Large Molecule), By Test Type (ADME, PK, PD, Bioavailability, Bioequivalence), By Workflow, By Region, And Segment Forecasts, 2021 – 2028 The global bioanalytical testing services market size is anticipated to reach USD 6.3 billion by 2028, according…