According to the latest report by IMARC Group, titled “Bioanalytical Testing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global bioanalytical testing services market reached a value of US$ 2.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.90 Billion by 2027, exhibiting a CAGR of 11.31% during 2022-2027.
Industry Definition and Application:
Bioanalytical testing services are used to quantitatively determine metabolites and drugs in various biological matrices, such as serum, blood, plasma, tissue, and urine. They are primarily employed in the early drug development phase and clinical trials to validate analytes, demonstrate precision, stability, and selectivity. Bioanalytical testing services are extensively applied in pharmacology, toxicology, pharmacokinetic, and bioavailability studies.
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Market Drivers and Trends:
The global bioanalytical testing services market is majorly being driven by the rising prevalence of chronic diseases and the increasing preference for personalized medical treatments. Amidst the global outbreak of the coronavirus disease (COVID-19), governments of various nations are increasingly using these services to provide point-of-care (POC) diagnostic and develop effective vaccines, which is further contributing to the market growth. Additionally, the rising healthcare expenditure and the incorporation of various innovative techniques in sample preparation are catalyzing the market growth. Other factors, including the emerging trend of outsourcing laboratory testing services and the adoption of quality-by-design approaches in pharmaceutical research, are creating a positive outlook for the market.
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| Bioanalytical Testing Services Market Report 2022-2027 |
Competitive Landscape with Key Players:
- Almac Group
- Charles River Laboratories International Inc.
- Frontage Laboratories Inc.
- ICON plc
- Intertek Group plc
- Laboratory Corporation of America Holdings
- Pace Analytical Services LLC
- PPD Inc.
- PRA Health Sciences
- SGS SA
- Syneos Health
- Toxikon Corporation
Market Segmentation:
The report has segmented the global bioanalytical testing services market on the basis of molecule type, test type, workflow and region.
Breakup by Molecule Type:
- Small Molecule
- Large Molecule
Breakup by Test Type:
- ADME
- PK
- PD
- Bioavailability
- Bioequivalence
- Others
Breakup by Workflow:
- Sample Preparation
- Sample Analysis
- Others
Breakup by Region:
- North America
- Asia-Pacific
- India
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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