Increasing prevalence of chronic health conditions, rising demand for personalized medicine, and growing preference for outsourcing services are some key factors expected to drive global Bioanalytical Testing Service market growth.
Increasing prevalence of chronic health conditions, rising demand for personalized medicine, and growing preference for outsourcing services are some key factors expected to drive global Bioanalytical Testing Service market growth.
According to Emergen Research, the global bioanalytical testing services market size was USD 1.80 billion in 2020 and is expected to reach USD 4.33 billion in 2028 and register a steady CAGR of 11.5% during the forecast period, 2021-2028.
Market Dynamics:
Bioanalytical testing services are widely used for determining the properties of drugs and metabolites in biological fluids such as urine, plasma, serum, bile, feces, tissue, and blood. These services include method validations that ensure results for demonstrating accuracy, selectivity, stability, and precision of sample analysis results. Bioanalytical testing services have several applications including drug testing and assessment of bioequivalence, bioavailability, pharmacodynamics, and pharmacokinetics for drug development.
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However, navigating regulatory requirements for bioanalytical testing can be time-consuming and challenging. To overcome this, many market players are heavily investing in research and development activities. Factors such as increasing adoption of advanced bioanalytical services in many pharmaceutical and biopharmaceutical companies, growing preference for third party outsourcing analytical testing, and rising demand for personalized medical treatments are expected to drive global market revenue growth during the forecast period. In addition, increasing focus on analytical testing of biologics and large molecule drugs, and steady adoption of Quality by Design (QbD) approach are expected to drive global market growth going ahead.
However, factors such as dearth of skilled professionals and high cost of bioanalytical testing services can hamper revenue growth of the global market to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Oncology Segment To Register Significant Revenue Growth:
The oncology segment is expected to register significant revenue growth over the forecast period owing to rising prevalence of various types of cancer, ongoing research on cancer, increasing number of clinical trials, and rising investments in R&D activities.
Biopharmaceutical and Pharmaceutical Companies Segment to Account for Largest Revenue Share:
The biopharmaceutical and pharmaceutical companies segment is expected to account for largest revenue share during the forecast period. This can be attributed to factors such as rising number of biopharmaceutical and pharmaceutical companies worldwide, rising funds by public and private organizations, and increasing outsourcing of early-phase development, laboratory testing, and clinical services.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to large patient population, presence of well-developed research facilities and infrastructure, high demand for bioanalytical testing services from the pharmaceutical and biotechnology sector, and increasing investments in research and development activities. Other factors such as rapid adoption of outsourcing services, high focus on drug discovery, and presence of leading companies offering bioanalytical testing services are expected to drive North America market growth going ahead.
Major Companies in the Market Include:
- Charles River Laboratories
- Medpace, Inc.
- Wuxi AppTec
- IQVIA, Inc.
- SGS SA
- Laboratory Corporation of America Holdings
- Intertek Group plc
- PRA Health Sciences
- Syneos Health
- Frontage Laboratories, Inc.
Scope of Bioanalytical Testing Services Research
| Report Details | Outcome |
| Market size in 2020 | USD 1.80 Billion |
| CAGR (2018–2028) | 11.5% |
| Revenue forecast in 2028 | USD 4.33 Billion |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2021–2028 |
| Quantitative units | Revenue in USD Billion; and CAGR from 2018 to 2028 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, application, end-use, and regions |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; France; U.K.; BENELUX; Italy; Spain; Switzerland; Russia; Rest of Europe; China; Japan; South Korea; India; Rest of APAC Brazil; Rest of LATAM; Saudi Arabia; UAE; South Africa; Turkey.; Rest of MEA. |
| Key companies profiled | Charles River Laboratories, Medpace, Inc., WuXi AppTec, IQVIA, Inc., SGS SA, Laboratory Corporation of America Holdings, Intertek Group plc, PRA Health Sciences, Syneos Health, and Frontage Laboratories, Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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For the purpose of this report, Emergen Research has segmented the global bioanalytical testing services market based on type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Cell-based Assays
- Virology Testing
- Method Development Optimization and Validation
- Serology Immunogenicity and Neutralizing Antibodies
- Pharmacokinetic Testing
- Biomarker Testing
- Others
Application Outlook (Revenue, USD Billion; 2018–2028)
- Neurology
- Oncology
- Infectious Diseases
- Cardiology
- Gastroenterology
- Others
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Biopharmaceutical and Pharmaceutical Companies
- Contract Development and Manufacturing Organizations
- Contract Research Organizations
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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