Large Molecule Bioanalytical Technologies Market Size, Share & Trends Analysis Report By Products & Services, By Application (Biologics, Cell & Gene Therapy), By Region, And Segment Forecasts, 2023 - 2030

Large Molecule Bioanalytical Technologies Market Size, Share & Trends Analysis Report By Products & Services, By Application (Biologics, Cell & Gene Therapy), By Region, And Segment Forecasts, 2023 - 2030

Large Molecule Bioanalytical Technologies Market Growth & Trends

The global large molecule bioanalytical technologies market size is expected to reach USD 16.76 billion by 2030, registering a CAGR of 10.5% during the forecast period, according to a new report by Grand View Research, Inc. The demand for bioanalytical testing services has significantly increased over the past few years, thereby positively impacting the growth of the market.

This is primarily due to the growing R&D activities in the biopharmaceutical industry, leading to notable investments in the space. Also, the ongoing pandemic of COVID-19 has resulted in the expansion of manufacturing and R&D capabilities of key stakeholders leading to increased demand for bioanalytical testing services. The use of advanced technologies in vaccine and cell gene therapy development has led to significant growth of this space.

Advancements in instrumentation have created lucrative opportunities for contract manufacturers. Over the past several years, biopharmaceutical manufacturers are outsourcing at least some part of their biomanufacturing activities. Analytical testing is one of the most outsourced activities as it requires highly specialized personnel and equipment to conduct assays. These factors are anticipated to play a vital role in shaping market growth.

Large Molecule Bioanalytical Technologies Market Report Highlights

• The product segment accounted for the largest revenue share in 2022
• Biopharmaceutical products require various instruments for characterization, identification, purity, and potency testing
• Availability of a wide range of products for the aforementioned assay applications is the key factor contributing to segment growth
• Biologics accounted for the major revenue share in 2022 owing to the ever-expanding R&D activity programs in the segment
• Besides, the presence of a stringent regulatory framework for advanced therapies has increased the demand for bioanalytical testing services
• The COVID-19 pandemic has accelerated the development of genetic vaccines
• This increases the utility of analytical tools for assessing the safety and stability of large molecules, thereby driving the segment
• North America dominated the market in 2022 owing to the presence of strong research as well as a commercial base for biopharmaceutical manufacturing
• Moreover, the U.S. is the largest biopharmaceutical market that has positively influenced the adoption and usage of large molecule bioanalytical technologies in the region
• In the Asia Pacific, the market is estimated to register the fastest CAGR with emerging markets such as China and Japan at the forefront
• Collaborations between domestic and global players for expansion of biomanufacturing capabilities are supplementing the growth of the market in the region
• Key companies are focusing on new product launches to sustain their position in the market.

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