MarkNtel Advisors recently published a detailed industry analysis of the Global Bioanalytical Testing Services Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Bioanalytical Testing Services Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Bioanalytical Testing Services Market is projected to grow at a CAGR of around 15.35% during the forecast period, 2023-28.
Key Findings in Global Bioanalytical Testing Services Market:
- Historical Analysis: 2018–2021
- Base Year: 2022
- Forecast Period: 2023–2028
Leading Market Players- Charles River, Medpace holdings, ICON plc, Wuxi Apptech, Eurofins Scientific, Syenos Health, SGS SA, Intertek, PPD Inc., Bioneeds India Pvt Ltd., CD Bioscience Ltd., Pace Analytical, BioAgilitix, Alta Sciences, Others
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Bioanalytical Testing Services Market?
Upsurge in the Number of Chronic Diseases Would Drive the Market Growth - The spread of chronic diseases like cancer, diabetes, stroke, arthritis, and other heart ailments has been enhancing drug discovery, drug development, and testing, which is further driving the need for bioanalytical testing services. Additionally, increasing drug development and the rising investment by biotechnology companies including Sysmex, Thermofisher Qiagen, etc., for the adoption of advanced technologies are contributing to the demand for bioanalytical testing services across the globe.
Moreover, the global rise in cancer patients and the amplified number of tests related to oncology are also responsible for the rising requirements for bioanalytical testing services. For instance, according to the International Diabetes Federation, in 2021, approximately 537 million adults (20-79 years) were diagnosed with diabetes, and the number of patients would rise to 643 million by 2030. As the diabetic population globally is anticipated surge by over 100 million adults, the demand for bioanalytical testing for blood samples is also expected to surge in the coming years.
Furthermore, funding by the government of several countries such as the US, India, the UK, etc., towards contract research organizations for the development of biosimilar drugs are some of the factors that are likely to fuel the overall growth of the bioanalytical testing services industry during 2023-2028.
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What segments define the Global Bioanalytical Testing Services Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Test Type
- Cell-Based Assay
- Bacterial Cell-Based Assay
- Viral Cell-Based Assay
- Virology Testing
- In Vivo Virology Testing
- In Vitro Virology Testing
- Method validation and Optimization
- Serology, Immunogenicity and Neutralizing Antibodies
- Biomarker testing
- Pharmacokinetic testing
- Others
According to report, Of them all, Serology, Immunogenicity, and Neutralizing Antibodies testing are the most widely prevailing testing techniques, as they are required throughout the development process to assess the immune response in preclinical models using clinical samples to detect antibodies created against a treatment.
By Application
- Oncology
- Neurology
- Infectious disease
- Cardiology
- Gastroenterology
- Others
By Molecule Type
- Small Molecule
- Large Molecule
By End User
- Pharmaceutical & Biotechnology Companies
- Contractual Development & Manufacturer Organisation
- Contract Research Organisation
According to report, Among all the above applications, Pharmaceutical & Biotechnology Companies accounted for the major share of the Global Bioanalytical Testing Services market during the historical years, owing to their enhanced use of bioanalytical testing for disease detection through blood samples, & urine samples, etc.
Explore the Complete Global Bioanalytical Testing Services Market Analysis Report –
https://www.marknteladvisors.com/research-library/bioanalytical-testing-services-market.html
Geographical Analysis: Global Bioanalytical Testing Services Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Bioanalytical Testing Services Market Recent Development:
- In 2022, Alta Science announced the expansion of its facility in Colombia, Missouri to provide bioanalytical service to support preclinical and clinical studies, and offers services including mass spectroscopy, flow cytometry, cell cultures, and others.
- In 2022, SGS SA announced the expansion of its bioanalytical testing laboratory, in Shanghai, China. That includes the study of liposomes, albumin binding, proteins, peptides, and small nucleic and poly-nucleic acids to gather critical data and submit drug declarations to get their products to market quickly and safely.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Bioanalytical Testing Services Market?
- How is the Bioanalytical Testing Services Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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