Bioanalytical Testing Services Market Competitive Landscape & Strategy Framework To 2022 -2030

The global bioanalytical testing services market size was estimated at USD 3.64 billion in 2021 and is anticipated to register a compound annual growth rate (CAGR) of 8.6% over the forecast period. The bioanalytical testing method is used for the quantitative determination of drugs or metabolites in biological matrices, such as serum, blood, plasma, tissue, urine, and skin samples. The applications of such methods are bioavailability, pharmacology, bioequivalence, pharmacokinetic, and toxicology studies conducted in humans and animals. Also, with the outbreak of the COVID-19 pandemic, the market has witnessed high demand in the year 2020.

Moreover, the increasing frequency of outsourcing R&D activities by the major pharmaceutical companies to focus on their core competencies is the vital impact rendering driver for this market. Furthermore, the economic efficiency offered by outsourcing rather than conducting an in-house study is expected to boost the demand over the forecast period. Innovation and new product development are expected to further boost the demand for these services. Competitive pressure and pricing concerns are driving companies to outsource such services. This, in turn, is expected to augment the overall market growth.

Gather more insights about the market drivers, restrains and growth of the Global Bioanalytical Testing Services market

In addition, a growing focus on the development of advanced bioanalytical technologies for enhanced testing is expected to contribute to market growth. The development of biosimilars, combination products, and other innovative medicines has increased the demand for specific testing procedures. The coronavirus pandemic has resulted in disruptions in the supply chain of the overall pharmaceutical industry. However, the market for bioanalytical testing services responded well to the outbreak. The pandemic resulted in the expansion of R&D and manufacturing operations of key stakeholders leading to a surge in demand for these services.

Furthermore, several biopharmaceutical companies are using bioanalytical testing outsourcing services for drug development and validation of assays at both clinical and preclinical stages, thus supporting the growth of the market. The global transmission of coronavirus disease and the lack of effective treatments and vaccines are driving the need for early detection and widespread screening. This has also increased the usage of bioanalytical testing services for point-of-care diagnostic and minimizing the societal impact of the infection.

For instance, in January 2021, Eurofin’s bioanalytical services division announced the launch of a surrogate virus neutralization antibody assay against the COVID-19 virus. This assay is the first neutralizing antibody serology test authorized by the FDA as Emergency Use Authorization (EUA) for SARS-CoV-2-virus. Hence, such novel initiatives have led to the significant growth of the market during the year 2020. The market is further anticipated to witness lucrative growth over the forecast period owing to a significant surge in demand for such services post-pandemic.

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

Europe Medical Foods Market - The Europe medical foods market size was valued at USD 5.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.9% from 2022 to 2030. The rise in the prevalence of chronic diseases, the rapidly growing geriatric population, and governmental authorities focusing on reducing malnutrition are key factors responsible for the growth of the medical foods market.

Branded Generics Market - The global branded generics market size was estimated at USD 229.06 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2030. The rising prevalence of chronic diseases, increasing penetration of branded generic drugs, increasing government initiatives to promote generic products, and patent expiry of major drugs are some of the primary industry growth drivers.

Bioanalytical Testing Services Market Segmentation

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

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

• Small Molecule
• Large Molecule

o   LC-MS Studies

o   Immunoassays

o   PK

o   ADA

o   Others

         Others

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

• ADME

o   In-Vivo

o   In-Vitro

• PK
• PD
• Bioavailability
• Bioequivalence
• Others

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

• Sample Preparation

o   Protein Precipitation

o   Liquid-Liquid Extraction

o   Solid Phase Extraction

• Sample Analysis

o   Hyphenated Technique

o   Chromatographic Technique

o   Electrophoresis

o   Ligand Binding Assay

o   Mass Spectrometry

o   Nuclear Magnetic Resonance

• Other Workflow Processes

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

• North America

o   U.S.

o   Canada

• Europe

o   France

o   U.K.

o   Germany

o   Italy

o   Spain

o   The Netherlands

o   Switzerland

o   Sweden

• Asia Pacific

o   Japan

o   China

o   India

o   Indonesia

o   Malaysia

o   Singapore

o   South Korea

o   Thailand

o   Taiwan

o   Australia

• Latin America

o   Brazil

o   Mexico

o   Argentina

o   Colombia

• Middle East & Africa

o   South Africa

o   Saudi Arabia

o   UAE

o   Israel

Market Share Insights

January 2021 - The number was around 20.5 million. However, the impact of COVID-19 reduced significantly by the end of 2020 in most countries. Whereas in some countries affected by the third wave of COVID-19, the effect lasted until the third quarter of 2021.

July 2020 - Takeda Pharmaceutical Company Limited entered into a joint venture with Teva Pharmaceutical Industries Ltd. to focus on the commercialization of complex generics, specialty assets, and other pipeline opportunities.

Key Companies profiled:

Some prominent players in the global Bioanalytical Testing Services market include

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

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