Global Bioanalytical Testing Services Market to Reach $7.8 Billion by 2030
The global market for Bioanalytical Testing Services estimated at US$4.9 Billion in the year 2023, is expected to reach US$7.8 Billion by 2030, growing at a CAGR of 7% over the period 2023-2030. Small Molecule Bioanalytical Testing Services, one of the segments analyzed in the report, is expected to record 7.6% CAGR and reach US$4.7 Billion by the end of the analysis period. Growth in the Large Molecule Bioanalytical Testing Services segment is estimated at 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 11% CAGR
The Bioanalytical Testing Services market in the U.S. is estimated at US$1.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2030 trailing a CAGR of 11% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 6.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
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