Bioanalytical testing services market is anticipated to grow at a CAGR of 10.6% during the forecast period. Bioanalytics is an important tool in drug discovery and development for analysing the concentration of drugs and their metabolites as well as various pharmacodynamic biomarkers in biological fluids. Bioanalytical testing services are used to measure the levels of various biomolecules in the sample. These tests are often used to diagnose and monitor diseases, and to evaluate the effectiveness of treatments. Bioanalytical tests can be performed on blood, urine, or other body fluids, and can measure the levels of proteins, enzymes, hormones, and other biomolecules. When a new drug is introduced bioanalytical testing results constitute the foundational block toward drug approval by FDA.
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Moreover, the rising prevalence of chronic diseases and the increasing frequency of outsourcing R&D activities by the major pharmaceutical companies are some key factors driving the demand for bioanalytical testing services. Innovation and new product developments are expected to further boost the demand for these services. For instance, in June 2022, Waters Corp. announced a collaboration with BioInfra, a pioneering contract research organization company for the pharmaceutical and clinical fields, to jointly establish the ASEAN Academy for Bioanalysis. The academy is dedicated to providing scientists with the hands-on knowledge required to design and perform a variety of bioanalytical methods, which are vital throughout every stage of drug discovery and development.
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Segmental Outlook
The global bioanalytical testing services market is segmented based on the molecule, test, application and end-user. Based on the molecule, the market is segmented into the large molecule and small molecule. Based on the test, the market is segmented into the pharmacokinetic test, pharmacodynamic test, bioequivalence test, bioavailability test, and ADME test. Based on the application, the market is segmented into oncology, neurology, infectious diseases, gastroenterology, cardiology, and others. Based on the end-user, the market is segmented into pharmaceutical and biopharmaceutical companies, contract development and manufacturing organizations, contract research organizations, and others.
Small Molecule to Witness Significant Share in the Global Bioanalytical Testing Services Market During the Forecast Period.
The small molecule segment is expected to hold a potential share in the market during the forecast period. Generic and branded drug compounds are mostly small molecules. Generic manufacturers have to conduct and submit bioanalytical testing results to FDA for filing the patent. This, in, turn, drives the adoption of bioanalytical testing for small molecules. On the other hand, the large molecule segment is expected to register the fastest CAGR during the forecast period. This is due to a rich pipeline of amino acid-based molecules or biologics. In addition, testing of these molecules requires advanced analytical instruments, and infrastructure, which is available from bioanalytical services providers. Hence, outsourcing bioanalytical testing of these molecules is likely to be the prevailing trend during the forecast period.
By Molecule (Large Molecule and Small Molecule),
By Test (Pharmacokinetic Test, Pharmacodynamic Test, Bioequivalence Test, Bioavailability Test, and ADME Test),
By Application (Oncology, Neurology, Infectious Diseases, Gastroenterology, Cardiology, and Others),
By End-User (Pharmaceutical and Biopharmaceutical Companies, Contract Development and Manufacturing Organizations, Contract Research Organizations, and Others)
Market Players Outlook
The major companies serving the global bioanalytical testing services market include Charles River Laboratories Inc., Eurofins Scientific SE, SGS SA, Medpace, Inc., and Wuxi AppTec Co., Ltd. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, Charles River Laboratories Inc. acquired Explora BioLabs Holdings, Inc., a provider of contract vivarium research services, based in San Diego, CA, US for approximately $295 million. Explora BioLabs currently operates more than 15 preclinical vivarium facilities, offering AAALAC-accredited rental space in Southern California, San Francisco, and Boston-Cambridge bio hubs, with a planned expansion in Seattle in 2022. In May 2022, Charles River Laboratories International, Inc. paired with the drug discovery technology firm on Logica, an artificial intelligence (AI) tool designed to accelerate the development of new treatments.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global bioanalytical testing services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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