Bioanalytical testing involves analytical methods used for the detailed examination of biological and biotechnology products. Bioanalysis enables the quantitative measurement of drugs and their metabolites, biological molecules in unnatural locations or concentrations, DNA, and large molecules.
New York, June 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bioanalytical Testing Services Market by Type, Application, End User and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05894590/?utm_source=GNW
The global bioanalytical testing services market is projected to reach USD 6.0 billion by 2027 from an estimated USD 2.9 billion in 2022, at a CAGR of 15.6% during the forecast period.
The Cell-based assays segment is expected to account for the largest share of the bioanalytical testing services market
The increasing prevalence of chronic diseases and the rising number of clinical trials are expected to support the growth of the cell-based assays market.Cell-based assays are in vitro assays used for the quantitative and qualitative assessment of cellular mechanisms and functions using a wide range of reagents and cells.
These assays are used to study the characteristics of a cell in natural conditions.
The the oncology segment is expected to account for the largest share of the bioanalytical testing services market
The oncology segment accounted for the largest share of the global bioanalytical testing services market in 2021.With the increasing burden of cancer on healthcare systems worldwide, both government and private organizations are increasingly focusing on developing novel cancer therapies.
This is expected to drive the demand for bioanalytical testing services in the clinical trials of cancer drugs. ICON (Ireland), Syneos Health (US), and PAREXEL International (US) are the leading players offering services for the clinical trials of oncology drugs.
The pharmaceutical and biopharmaceutical companies segment is expected to account for the largest share of the bioanalytical testing services market
The pharmaceutical and biopharmaceutical companies segment accounted for the largest share of the global bioanalytical testing services market in 2021.Pharmaceutical and biopharmaceutical companies mainly focus on developing new drugs for the treatment of various diseases.
These companies need to submit specific data related to drug development during the drug development process and subsequent filing of applications to regulatory bodies. This necessitates a wide spectrum of services in the early development phases and clinical phases to comply with regulatory requirements.
Asia Pacific market to witness the highest growth during the forecast period
The APAC market is estimated to grow at the highest CAGR during the forecast period. This is majorly attributed to the rapid growth in the pharmaceutical and biopharmaceutical industries, low cost of clinical trials, and favorable government policies in several countries in this region.
A breakdown of the primary participants for the bioanalytical testing services market referred to for this report is provided below:
• By Company Type: Tier 1–35%, Tier 2–45%, and Tier 3–20%
• By Designation: C-level–30%, Director Level–55%, and Others–15%
• By Region: North America–40%, Europe–25%, Asia Pacific–20%, Latin America- 10%, Middle East & Africa-5%
The prominent players in the bioanalytical testing services market include Charles River (US), Medpace (US), WuXi AppTec (China), Eurofins Scientific (Luxembourg), IQVIA (US), SGS SA (Switzerland), Laboratory Corporation of America Holdings (US), Intertek Group (UK), Syneos Health (US), ICON (Ireland), Frontage Labs (US), PPD (US), PAREXEL International Corporation (US), Almac Group (UK), Celerion (US), Altasciences (US), BioAgilytix Labs (US), Lotus Labs (India), LGS Limited (UK), Sartorius AG (Germany), CD BioSciences (US), Absorption Systems LLC (US), Pace Analytical Services (US), Bioneeds India Private Limited (India) and Vipragen Biosciences (India).
The report analyzes the market for various bioanalytical testing services and their adoption pattern.It aims at estimating the market size and future growth potential of the global bioanalytical testing services market and different segments such as type, application, end user, and region.
The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global bioanalytical testing services market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the global bioanalytical testing services market
• Market Development: Comprehensive information on the lucrative emerging regions by type, application, end user, and region
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global bioanalytical testing services market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products & services of leading players in the global bioanalytical testing services market.
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