Bioanalytical Testing Services Market – By Molecule Type (Small, Large), Test Type (DMPK, Biomarker, Virology, Serology, Immunogenicity Testing), Application (Oncology, Neurology, Cardiology), By End-use & Forecast, 2024 – 2032
Report ID: GMI8443
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Published Date: March 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 12
Tables & Figures: 266
Countries covered: 19
Pages: 195
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Bioanalytical Testing Services Market
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Bioanalytical Testing Services Market Size
Bioanalytical Testing Services Market was valued at USD 3.8 billion in 2023 and is set to achieve over 8.6% CAGR from 2024 to 2032.
The growth of this market can be attributed to factors such as increasing volume of ongoing research activities & clinical trials and development of complex therapeutic modalities, such as gene therapies as well as biologics. Also, increased outsourcing laboratory testing services and growing development and approval of biopharmaceutical are expected to fuel the market growth. Also, outsourcing these services enable companies to access testing facilities in different geographical regions. This globalization of testing capabilities allows companies to expand their market reach, establish strategic partnerships, and leverage regional expertise and resources to support drug development activities in diverse markets, thereby augmenting the industry growth.
Bioanalytical testing services refer to a range of laboratory services that involve the analysis of biological samples such as blood, urine, tissue, etc. to quantify the concentration of drugs, metabolites, biomarkers, and other analytes in biological matrices. These services are commonly used in the pharmaceutical and biotechnology industries for various purposes, including drug development, pharmacokinetic studies, bioequivalence assessments, and in overall clinical trials.
Bioanalytical Testing Services Market Trends
However, complex regulatory framework for maintaining laboratories may hamper the market growth to certain extent.
Bioanalytical Testing Services Market Analysis
The global market based on molecule type is segmented into small and large. The small segment accounted for majority of market share of 56.1% in 2023 and is expected to dominate throughout the analysis period.
The bioanalytical testing services based on animal type is classified into DMPK testing, biomarker testing, virology testing, serology testing, immunogenicity testing, and other test types. The virology testing segment has been further divided into in-vivo virology testing and in-vitro virology testing. The biomarker testing dominated the market and was valued at USD 2.2 billion by 2032.
Based on application, the bioanalytical testing services is divided into oncology, neurology, infectious diseases, gastroenterology, cardiology, and other applications. The oncology segment accounted for significant market position and is predicted to reach USD 1.8 billion by 2032.
Based on end-use, the bioanalytical testing services market is segmented into pharmaceutical & biotechnology companies, contract research organizations, research & academic institutes, and other end-users. The pharmaceutical & biotechnology companies segment held a market share of 45.9% in 2023.
North America bioanalytical testing services market accounted for USD 1.6 billion revenue in 2023 and is anticipated to grow at CAGR of 8.4% between 2024 and 2032.
Bioanalytical Testing Services Market Share
The bioanalytical testing services industry is characterized by the presence of several key players offering innovative solutions to healthcare providers. The strategic partnerships, mergers, and acquisitions are common strategies employed by players to expand their market presence, enhance their product portfolios, and gain a competitive advantage.
Bioanalytical Testing Services Market Companies
Prominent players operating in the bioanalytical testing services industry include:
Bioanalytical Testing Services Industry News:
The bioanalytical testing services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 - 2032 for the following segments:
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Market, By Molecule Type
Market, By Test Type
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: