Bioanalytical Testing Services Market Worth $7.65 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Oct. 18, 2022 /PRNewswire/ -- The global bioanalytical testing services market size is expected to reach USD 7.65 billion by 2030, according to a new report by Grand View Research, Inc. registering a CAGR of 8.6% over the forecast period. The increasing rate of outsourcing R&D activities by several biopharmaceutical companies to streamline their core competencies is one of the major factors supporting the market growth. In addition, the outbreak of COVID-19 has further boosted the demand for pharma-analytical testing services as the rapid surge in SARS-CoV-2 infection cases has significantly augmented the production of a larger batch of COVID-19 vaccines across the globe.

Key Industry Insights & Findings from the report:

• The small molecule segment accounted for the largest revenue share of over 56% in 2021. The high demand for generic drug development boosts the segment growth.
• The bioequivalance segment is estimated to witness the fastest CAGR during the forecast period.
• An increasing rate of drug manufacturing outsourcing services is estimated to fuel the growth of this segment.
• The sample preparation segment held a significant market share in 2021 and is estimated to expand further at the fastest CAGR from 2022 to 2030.
• North America was the largest regional market in2021 due to the strong presence of several pharmaceutical players in the U.S.
• On the other hand, the market in Asia Pacific is projected to register the fastest CAGR from 2022 to 2030.

Read 165-page market research report, "Bioanalytical Testing Services Market Size, Share & Trends Analysis Report By Molecule (Small, Large), By Test (Bioavailability, Bioequivalance), By Workflow (Sample Analysis, Sample Preparation), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Bioanalytical Testing Services Market Growth & Trends

Furthermore, the growing demand for pharmaceutical products across the globe has resulted in a surge of pipeline drugs that require bioanalytical testing for development, thus augmenting the market growth. In addition, the market is expected to witness considerable growth over the forecast period owing to the increasing number of contract manufacturing companies expanding their development capacities across the globe. Hence, the growing volume of batch production of biologics is further supported by such initiatives. The outbreak of COVID-19 infection has further offered lucrative growth opportunities for the market to flourish amidst the pandemic. The outbreak of the COVID-19 virus has resulted in a sudden robust demand for appropriate vaccines, which requires extensive analytical testing.

To meet the rapid demand, major pharmaceutical companies have approached the contract development and manufacturing organizations for fast-track analysis and development of the appropriate drug in the treatment of COVID-19 infection, thus boosting the growth of bioanalytical testing services across the globe, also, major pharmaceutical giants are focusing on expanding bioanalytical testing capabilities to ensure rapid production of COVID-19 vaccines, which, in turn, supported significant growth in revenue generation during 2020.

For instance, in February 2021, Nexelis, a provider of advanced assay development and laboratory testing services, has signed an asset purchase agreement with GlaxoSmithKline (GSK) to acquire GSK's Good Clinical Laboratory Practices (GCLP)-certified clinical bioanalytical laboratory located in Marburg, Germany, with an aim to enhance its vaccines production capacities. In terms of molecules, the market is classified into small and large molecules. The large molecules segment is further segmented into LC-MS studies, immunoassays, and others based on test type. The small molecule-based bioanalytical testing services are estimated to hold the highest share over the forecast period.

Branded and generic drug compounds are mostly small molecules. In addition, these molecules bind easily with the targets present in intracellular regions. These factors are expected to fuel segment growth. On the other hand, large molecule bioanalytical testing services are expected to grow at the fastest rate during the forecast period. A strong biologic and amino acid-based product pipeline is expected to propel the overall market growth. For instance, major pharmaceutical companies, such as AstraZeneca, reported a total of 17 new molecular entities in their late-stage pipeline, among them majority are large molecule biologics.

Bioanalytical Testing Services Market Segmentation

Grand View Research has segmented the global bioanalytical testing services market based on molecule, test, workflow, therapeutic area, end-user, and region:

Bioanalytical Testing Services Market - Molecule Outlook (Revenue, USD Billion, 2018 - 2030)

• Small Molecule
• Large Molecule
• LC-MS Studies
• Immunoassays
• PK
• ADA
• Others
• Others

Bioanalytical Testing Services Market - Test Outlook (Revenue, USD Billion, 2018 - 2030)

• ADME
• In-Vivo
• In-Vitro
• PK
• PD
• Bioavailability
• Bioequivalence
• Others

Bioanalytical Testing Services Market - Workflow Outlook (Revenue, USD Billion, 2018 - 2030)

• Sample Preparation
• Protein Precipitation
• Liquid-Liquid Extraction
• Solid Phase Extraction
• Sample Analysis
• Hyphenated Technique
• Chromatographic Technique
• Electrophoresis
• Ligand Binding Assay
• Mass Spectrometry
• Nuclear Magnetic Resonance
• Other Workflow Processes

Bioanalytical Testing Services Market - Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology
• Neurology
• Metabolic Disorders
• Hematology
• Immunology
• Orthopedics
• Others

Bioanalytical Testing Services Market - End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical and Biotechnology Companies
• Contract Development and Manufacturing Organization
• Contract Research Organization
• Others

Bioanalytical Testing Services Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• France
• U.K.
• Germany
• Italy
• Spain
• The Netherlands
• Switzerland
• Sweden
• Asia Pacific
• Japan
• China
• India
• Indonesia
• Malaysia
• Singapore
• South Korea
• Thailand
• Taiwan
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Israel

List of Key Players of Bioanalytical Testing Services Market

• PPD, Inc.
• ICON Plc
• Charles River Laboratories International
• Covance, Inc.
• IQVIA
• Syneos Health
• SGS SA
• Toxikon
• Intertek Group Plc
• Pace Analytical Services LLC

Check out more related studies published by Grand View Research:

• Large Molecule Bioanalytical Testing Services Market - The global large molecule bioanalytical testing services market size is expected to reach USD 3.5 billion by 2030, registering a CAGR of 9.1% over the forecast period, according to a new report by Grand View Research, Inc. The increased use of bioanalytical testing in clinical trials of biomarkers, large molecules, and other substances is the main driver of the industry. The rising incidence of chronic diseases and the rising demand for clinical trials in developing nations are the factors driving the market growth.
• Pharmaceutical Analytical Testing Outsourcing Market - The global pharmaceutical analytical testing outsourcing market size is expected to reach USD 14.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.4% from 2022 to 2030. Increasing biological candidate pipelines, rising demand for additional analytical details on drugs, and process development by regulatory agencies are driving the market growth.
• Large Molecule Bioanalytical Technologies Market - 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.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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