Large Molecule Bioanalytical Testing Services Market size worth US$ 4.7 Billion By 2033, Reveals Future Market Insights
The Large Molecule Bioanalytical Testing Services Market revenues were estimated at US$ 1.5 Billion in 2023 and is anticipated to grow at a CAGR of 12.1% from 2023-2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 4.7 Billion. The rising use of bioanalytical testing in clinical trials of biomarkers, big compounds, and others is a major factor driving market expansion.
With the prevalence of HIV, infectious illnesses, and other disorders, the demand for bioanalytical testing services has shot up in the recent past. Furthermore, enhanced government actions to control the spread of infectious diseases like Corona and the Ebola virus are expected to assist the business. As a result, the market is expected to grow throughout the assessment period.
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Throughout the projection period, increased research activities and the presence of a vast pipeline of peptides, biologics, and amino acid-based compounds are expected to move the market ahead. Bioanalysis of large molecules also involves the utilization of highly skilled professionals as well as analytical gear and infrastructure.
With a CAGR of 12.3% during the projected period, Large Molecule Bioanalytical Testing Service revenue is expected to grow at a significant pace in North America. Because of the rising frequency of numerous chronic diseases and the growing use of large-molecule medicines as an alternative to small molecules, the United States has the largest market share.
The key players operating in the Large Molecule Bioanalytical Testing Services Market include Covance, IQVIA, Syneos Health, SGS SA, Toxikon, Intertek Group plc, Pace Analytical Services LLC, ICON Plc, Charles River Laboratories, and Thermo Fisher Scientific.
A few of the recent developments of key Large Molecule Bioanalytical Testing Service providers are as follows:
- In November 2021, Labcorp announced the introduction of a new bioanalytical lab facility in Singapore. This laboratory is an expansion of its central laboratory services and will enable to the expansion of the capabilities of the biomedical ecosystem in Singapore.
- In February 2021, Nexelis acquired GSK’s Marburg, Germany-based vaccines clinical bioanalytical laboratory for expanding its bioanalytical capabilities.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Large Molecule Bioanalytical Testing Services Market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of by Phase (Preclinical, Clinical), by Type (Pharmacokinetics, ADA, Others), by Test Type (ADME, PK, PD, Bioavailability, Bioequivalence, Other Tests), by Therapeutic Area (Oncology, Infectious Diseases, Cardiology, Neurology, Others) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Market Segments Covered in Large Molecule Bioanalytical Testing Service Industry Analysis
- With Antibody
- Without Antibody
By Test Type:
- Other Tests
By Therapeutic Area:
- Infectious Diseases
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.
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