USD 2.42 Billion
Bioanalytical Testing Services Market Size, Share, Growth Analysis, By Workflow(Sample Preparation, and Sample Analysis), By Test(ADME, PK, PD, Bioavailability), By Molecule(Small Molecule, and Large Molecule), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2157 |
Region:
Global |
Published Date: July, 2024
Pages:
219
|Tables:
155
|Figures:
78
Bioanalytical Testing Services Market Insights
Global Bioanalytical Testing Services Market size was valued at USD 2.42 Billion in 2022 and is poised to grow from USD 2.78 Billion in 2023 to USD 8.51 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
The worldwide bioanalytical testing marketplace refers to the analytical services furnished to pharmaceutical and biotech agencies to decide the safety and efficacy of medication and biologics. These offerings are critical for drug development and regulatory approval procedures. Bioanalytical trying out services are used to measure the attention of medication, metabolites, and other biomarkers in organic samples inclusive of blood, urine, and tissue. The international bioanalytical testing services marketplace includes agreement studies groups (CROs) and different provider vendors that offer bioanalytical checking out offerings to pharmaceutical and biotech corporations.
The purpose of the bioanalytical testing services market is to provide reliable and accurate testing services to pharmaceutical and biotech companies to help them bring safe and effective drugs to market. The major restraining factor for the global bioanalytical testing services market is the high cost of these services. The major challenges in the global bioanalytical testing services market are the lack of standardization in analytical methods and procedures.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Sample Analysis
Fastest Growth
Sample Preparation
Growth Rate
15% CAGR
Global Bioanalytical Testing Services Market ($ Bn)
Country Share for North America Region (%)
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Bioanalytical Testing Services Market Segmental Analysis
Global Bioanalytical Testing Services Market is segmented on the Workflow, Test and region. By Workflow, the market is segmented into Sample Preparation, Sample Analysis. By Molecule, the market is segmented into Small Molecule, Large Molecule. By Test, the market is segmented into ADME, PK, PD, Bioavailability, Bioequivalence, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Workflow
In 2022, the sample analysis segment has a sizable proportion inside the global bioanalytical testing services market, accounting for greater than 45.8% of the overall revenue. This workflow is crucial for the drug improvement and advertising, as it aids in identifying impurities, quantifying them, and assessing the stableness of drug molecules. The growing demand for drug improvement is driving the segment.
The sample preparation is anticipated to develop at a CAGR of 8.9% throughout the forecast period. Sample training includes extraction tactics that assist in obtaining the desired components from the matrix. The use of nontraditional extraction technologies has increased due to the growing demand for automation, reduced solvent utilization, and miniaturization. Proper pattern preparation ensures the integrity of the samples and minimizes matrix risks and assay variability, ensuing in cleanser samples.
To avoid challenges and enhance bioanalysis, it is essential to maintain sample integrity from the time of collection until analysis.
Analysis by Molecule
The small molecule phase accounted for the biggest sales percentage at 55.6% in 2023. The growth in this segment can be attributed to medical breakthroughs and achievement of scientific needs related to small molecules. Besides, small molecules including drug probes play a critical position in biomedical studies. In addition, ordinary manufacturers should develop and put up bioanalytical check effects because of increasing patent periods. This also drives the adoption of bioanalytical testing for small molecules.
The large molecule segment in the bioanalytical testing services market is expected to grow at a rapid rate of 9.61% CAGR from 2024 to 2031. The increasing use of large molecules including monoclonal antibodies and gene therapy requires more specialized bioanalytical testing services to ensure safety. Globalization for clinical trials, ongoing technological innovations and huge investments in healthcare research further contribute to the robust growth trajectory of this market during the forecast period.
Global Bioanalytical Testing Services Market By Molecule (%)
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Bioanalytical Testing Services Market Regional Insights
North America holds the largest market share due to the increase in patient groups with various chronic diseases and rise in peptides and other therapeutic agents as alternatives to small molecules with many side effects. Large and extensive number of investments by several large pharmaceutical companies are the major factors driving the growth of the studied market in the country.
The Asia-Pacific region in the bioanalytical testing services market is becoming an important hub for pharmaceutical and clinical research. The high level of clinical trial activity in the region is driven by factors such as cost-effectiveness, high untreated populations, monitoring of participants in clinical trials, and continuous improvement in legal systems.
Global Bioanalytical Testing Services Market By Geography
- Largest
- Fastest
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Bioanalytical Testing Services Market Dynamics
Bioanalytical Testing Services Market Drivers
Increasing Pharmaceutical Activities
- Increasing number of pharmaceutical trials and focus on new drugs and biopharmaceuticals is driving demand for bioanalytical testing services. Accurate and reliable testing is essential to ensure product efficacy and safety.
Regulatory Requirements
- Stringent regulatory guidelines and requirements for bioanalytical testing in drug development and manufacturing are driving the growth of the market for these services. Compliance with regulations ensures the quality and safety of pharmaceutical products.
Restraints
High Costs of Testing Services
- The costs associated with bioanalytical testing can be significant, especially for advanced specialized testing. These costs can be a barrier for small pharmaceutical companies and research institutes.
High Complexity of Analytical Methods
- The complexity and technical difficulties of bioanalytical testing can limit the efficiency and accuracy of results. This can lead to long turnaround times and potential data interpretation problems.
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Bioanalytical Testing Services Market Competitive Landscape
LabCorp Drug Development and Medable Inc. formed a partnership to advance clinical trials through digital health solutions. This collaboration aims to combine Labcorp’s bioanalytical testing capabilities with Medable’s decentralized clinical testing technology. By combining LabCorp’s extensive experience in bioanalytical testing with Madeable’s innovative approach to testing in other areas, the partnership increases the efficiency and effectiveness of clinical research. It could lead to better data collection, real-time monitoring, and improved patient engagement, ultimately streamlining drug development and accelerating market for new therapies.
Top Player’s Company Profiles in Bioanalytical Testing Services Market
- Eurofins Scientific SE (Luxembourg)
- Charles River Laboratories International, Inc. (US)
- Laboratory Corporation of America Holdings (US)
- WuXi AppTec (China)
- PPD, Inc. (US)
- Frontage Laboratories, Inc. (US)
- SGS SA (Switzerland)
- ICON plc (Ireland)
- Intertek Group plc (UK)
- Bioanalytical Systems, Inc. (US)
- Almac Group (UK)
- Anapharm (Canada)
- Pharmaron Beijing Co., Ltd. (China)
- Syneos Health (US)
- Celerion (US)
- BioAgilytix Labs (US)
- Medpace Holdings, Inc. (US)
- LGC Limited (UK)
- PSI CRO AG (Switzerland)
- Bioclinica (US)
Bioanalytical Testing Services Market Recent Developments
-
In January 2024, Kindeva Drug Delivery, in drug-device combination products, has enhanced its analytical services capabilities. This enhancement includes the establishment of a new global business unit that offers both integrated and stand-alone analytical support to the pharmaceutical, biopharmaceutical, and medical device industries.
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In November 2023, Resolian has successfully acquired Denali Medpharma, a leading bioanalytical CRO based in China. This acquisition expands Resolian's bioanalysis laboratory operations to include facilities in the U.S., UK, Australia, and China.
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In September 2023, Cerba HealthCare has acquired CIRION BioPharma Research, a Canadian contract research laboratory, to bolster its bioanalytical capabilities and facilitate the execution of intricate clinical trials.
Bioanalytical Testing Services Key Market Trends
- Advances in Biomarker Discovery and Development: There is an increasing trend to incorporate biomarker discovery and the improvement into bioanalytical testing projects. Identification and validation of biomarkers is becoming increasingly important for personalized medicine, early diagnosis and targeted therapy. By combining state-of-the-art technologies and techniques, bioanalytical testing services are empowering them supporting the increased development of new treatments and diagnostic tools.
Bioanalytical Testing Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the global bioanalytical testing services market is expected to experience significant growth during the forecast period. The market is expected to grow significantly in the coming years. Factors such as increasing R&D expenditure, increasing number of clinical trials, increasing demand for biologics and biosimilars. Prevalence of outsourcing of bioanalytical testing services is expected to create favorable conditions for market growth. The increasing prevalence of chronic diseases such as cancer and diabetes has led to a demand for new and innovative treatments. The identification of biosimilars, which continues to develop, also necessitates rapid implementation of sensitive analytical methods. The global bioanalytical testing services market is expected to witness significant growth in the coming years, driven by rising R&D expenditures, increasing number of clinical trials, and increasing demand for biologics and biosimilars. The market is facing challenges such as high cost of bioanalytical testing services, lack of standards.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.42 Billion |
| Market size value in 2031 | USD 8.51 Billion |
| Growth Rate | 15% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bioanalytical Testing Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bioanalytical Testing Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bioanalytical Testing Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bioanalytical Testing Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bioanalytical Testing Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bioanalytical Testing Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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