Bioanalytical Testing Services Market is Expected to Boost the Demand from Year 2021 to 2030

MarketResearch.Biz delivers in-depth insights in its upcoming report titled “Global Bioanalytical Testing Services Market Trends, Applications, Analysis, Growth, and Forecast to 2030”. The global bioanalytical testing services market is expected to register a CAGR of X.X% in terms of value during the forecast period 2021 - 2030. The report offers in-depth insights, revenue details, and other vital information regarding the global bioanalytical testing services market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global bioanalytical testing services market report has been segmented on the basis of module type, test type, and region.

Top Key Players of Bioanalytical Testing Services Market: PPD, ICON plc., Covance Inc., LabCorp, Charles River Laboratories International, Inc., inVentiv Health, SGS SA, Toxikon, Inc., Intertek group, Pace Analytical Services

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Bioanalysis is a sub-discipline of analytical chemistry covering the quantitative measurement of xenobiotics (drugs and their metabolites, and biological molecules in unnatural locations or concentrations), and biotics (macromolecules, proteins, DNA, large molecule drugs, and metabolites) in biological systems. Bioanalytical testing enables quantitative determination of drugs in biological substances such as blood, serum, plasma, or urine. Tests are conducted in pathological labs or diagnostic centers, and in research laboratories. Bioanalytical tests are conducted when a drug is being developed, and aids in the commercialization of the drug.

Drug manufacturers’ need to replenish their respective pipelines as patent of majority of the high selling drugs expires. This results in the need to invest significantly for new drug development, which is another major factor driving market growth.

North America dominated the global market for bioanalytical testing services in 2016, which can be attributed to the region being one of the top manufacturing hubs of highly reliable, complex, and high-end pharmaceuticals. In addition, unmet demand for pharmaceutical products in countries in the region is resulting in rapid increase in drug manufacturing.

The market in Asia Pacific is anticipated to witness comparatively faster growth over the forecast period owing to rising demand for outsourcing services in comparatively immature markets. Outsourcing services in countries in the region is supported by delivery centers in countries such as China, Manila, and India.

Segmentation on the basis of module type are:

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

Segmentation on the basis of test type are:

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

Increasing frequency of outsourcing R&D activities by many of the major pharmaceutical companies in order to focus on their core competencies is one of the primary factors driving growth of the global bioanalytical testing services market, and this strategy is expected to continue over the forecast period. Furthermore, cost-effectiveness from outsourcing as comparted to conducting in-house study is expected to further fuel growth of the market over the forecast period.