SAN FRANCISCO, March 8, 2021 / PRNewswire / – The market size of global bioanalytical testing services is expected to reach USD 6.3 billion ro 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2021 to 2028. The economic efficiency offered for outsourcing as opposed to conducting an in-house audit encourages the outsourcing of those services which are expected to increase demand over time. is expected. New molecular innovation or development is directly proportional to the demand for testing services. Due to concerns about pricing, competitive pressures, and lead time to market, companies are choosing to outsource test services. The growing focus on current care as well as technological advances are reducing the molecular life cycle, which has led to the rapid development of new molecules.
Key recommendations from the report:
- Molecular bioanalytical testing services maintained a small profit segment in 2020. This is because the largest generic and branded drug drugs fall under this category.
- The Bioavailability (BA) sector took control of the market in 2020 due to the huge demand for these services in the manufacture of sex drugs. Moreover, with the emergence of biosimilars, the demand for BA studies is expected to increase in the forecast period.
- North America control of the market in 2020. This can be attributed to the fact that it is one of the leading manufacturing centers of reliable, complex and high-end medicines
- Asia Pacific The region is expected to see the fastest CAGR over the expected period. This is because many developed countries are investing in the Asia Pacific area and various variations to vary clinical trial assessment standards according to the global platform
Read ToC’s 120-page research report on “Bioanalytical Test Services Size, Sharing & Bias Analysis Report By Molecule Type (Small Molecule, Large Molecule), By Test Type (ADME, PK, PD, Bioavailability, Bioequivalence) , With Workflow, With Area Projections, and Sections, 2021 – 2028 ‘at: https://www.grandviewresearch.com/industry-analysis/bioanalytical-testing-services-market
The performance of a market player in the field of pharmaceutical analytical testing is greatly influenced by the demand from the end user. As a result of the growing level of awareness, intensive market efforts, government initiatives, and improved accessibility, consumers are, these days, increasingly concerned about personal care, leading to higher consumption of pharmaceutical products- medicine. Consumption rates are expected to rise abruptly over the expected period.
Because of COVID-19 many universities have implemented complete campus locking and several other bioanalytical laboratories have been postponed for hours. This has adversely affected the bioanalytical testing services industry. Also ‘wet lab’ bioanalytical research came to a halt at several universities. But based on recent scenarios the situation has evolved for many bioanalytical testing laboratories where activity can be continued in modified forms based on new guidelines.
Grand View Research has segmented the global bioanalytical testing services market based on molecular type, test type, workflow and area:
- Outlook Type Molecule Bioanalytical Testing Services (Revenue, USD Million, 2016 – 2028)
- Molecule small
- Large molecule
- LC-MS studies
- Immunoassays
- Others
- Bioanalytical Testing Services Test Type Preview (Revenue, USD Million, 2016 – 2028)
- ADME
- PK
- PD
- Accessibility
- Bioequivalence
- Others
- Bioanalytical Testing Services Workflow Preview (Revenue, USD Million, 2016 – 2028)
- Sample preparation
- Protein precipitation
- Liquid-Liquid Extraction
- Draw a solid level
- Sample analysis
- Technology hyphenated
- Chromatographic technology
- Electrophoresis
- Ligand Binding Assay
- Mass Spectrometry
- Nuclear Magnetic Resonance
- Other processes
- Bioanalytical Testing Services Regional Forecast (Revenue, USD Million, 2016 – 2028)
- North America
- Europe
- RA
- Germany
- France
- Italy
- Spain
- Asia Pacific
- India
- China
- Japan
- Australia
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of key market players bioanalytical test market
- PPD
- ICON plc
- Covance Inc.
- LabCorp
- Charles River Laboratories International, Inc.
- Health inVentiv
- SGS SA
- Toxikon, Inc.
- Intertek Group
- Pace Research Services, LLC
Find more research reports on it Pharmaceutical Industry, by Grand View Research:
- Market outside pharmaceutical analysis test – The global pharmaceutical analysis test was valued outside of market size 6.54 billion USD in 2020 and is expected to grow at a complex annual growth rate (CAGR) of 8.3% over the forecast period
- ADME Toxicology Test Market – The global ADME toxicology test market size was valued USD 4.33 billion in 2017 and is expected to record a CAGR of 11.4% over the forecast period.
- CRO preclinical market – Global preclinical CRO market size was valued USD 4.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2021 to 2028.
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About Grand View Search
Grand View Research, a U.S.-based market research and consulting firm, provides research reports in addition to custom research reports and consulting services. Listed in California and headquarters in San Francisco, the company comprises more than 425 analysts and consultants, adding more than 1200 market research reports to its large database each year. These reports offer an analysis of 46 businesses across 25 major countries around the world. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutions understand the global and regional business environment and quantify the opportunities ahead.
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