Bioanalytical testing services play a crucial role in the drug development and approval process. These evaluate the biological activity, concentration and safety of drugs through analytical techniques like immunoassays and liquid chromatography–mass spectrometry. Innovating biopharmaceutical industry can boost demand for reliable and efficient bioanalytical testing services. Several blockbuster drugs undergoing clinical trials require extensive bioanalysis to establish proof of concepts, investigate pharmacokinetics and assess bioavailability. This is expected to drive the global bioanalytical testing services market growth in the near future.
Market Dynamics:
Global bioanalytical testing services market has been witnessing strong growth due to factors like rising R&D investments in pharmaceutical and biotechnology sectors, growing clinical trial activities and stringent regulatory guidelines for drug approval. The complex dynamics of novel drug molecules has also boosted demand for specialized bioanalysis using techniques like LC-MS/MS for accurate quantification and detailed pharmacokinetic evaluation. However, high costs associated with bioanalytical testing, scarcity of skilled professionals and lack of harmonization across global regulatory guidelines can hamper the market growth. O Growing outsourcing of bioanalysis by biopharma firms to specialized contract service providers can offer new growth opportunities.
Key Features of the Study:
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