Bioanalytical Testing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Bioanalytical Testing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global bioanalytical testing services market size reached US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2028, exhibiting a growth rate (CAGR) of 10.5% during 2022-2028.

Bioanalytical testing services are used for the quantitative determination of drugs concentration and their metabolites and pharmacodynamic biomarkers in biological fluids. These services include method validation for ensuring results that demonstrate accuracy, precision, selectivity, and stability and assure the accuracy of sample analysis results. Nowadays, they rely on developed and validated methods for detecting analytes and metabolites in a diversity of complex biological matrices. Some of these matrices are urine, serum, blood, saliva, plasma, breast milk, cell lysates, cell culture media, tissue homogenates, cerebrospinal fluid (CSF), and wastewater from pharmaceutical production.

Bioanalytical Testing Services Market Trends:
The increasing occurrence of chronic health conditions worldwide on account of sedentary lifestyles and increasing consumption of fast food, along with the rising preferences for personalized medical treatments, represents one of the key factors influencing the market positively. Additionally, biopharmaceutical companies are using bioanalytical testing services for validation of assays and drug development at both preclinical and clinical stages. Moreover, the global transmission of the coronavirus disease (COVID-19) and the lack of effective vaccines and treatments are driving the need for widespread screening and early detection. This has increased the usage of bioanalytical testing services for point-of-care (POC) diagnostic and controlling the spread and minimizing the resultant health and societal impact of the infection. Apart from this, several companies are incorporating a wide range of innovative techniques to offer rapid high-volume analyses. These techniques generally include mass spectrometry, immunochemistry, Ultra-Performance Liquid Chromatography (UPLC), automated sample preparation using robotics or turbulent flow, and large sample storage combined with bar code systems. This, in confluence with the improving healthcare infrastructure, is strengthening the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global bioanalytical testing services market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on molecule type, test type and workflow.

Breakup by Molecule Type:

Small Molecule
Large Molecule
LC-MS Studies
Immunoassays
Others

Breakup by Test Type:

ADME
In-Vivo
In-Vitro
PK
PD
Bioavailability
Bioequivalence
Others

Breakup by Workflow:

Sample Preparation
Protein Precipitation
Liquid-Liquid Extraction
Solid Phase Extraction
Sample Analysis
Hyphenated Technique
Chromatographic Technique
Electrophoresis
Ligand Binding Assay
Mass Spectrometry
Nuclear Magnetic Resonance
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Almac Group, Charles River Laboratories International Inc., Frontage Laboratories Inc., ICON plc, Intertek Group plc, Laboratory Corporation of America Holdings, Pace Analytical Services LLC, PPD Inc., PRA Health Sciences, SGS SA, Syneos Health and Toxikon Corporation.

Key Questions Answered in This Report

1. What was the size of the global bioanalytical testing services market in 2022?
2. What is the expected growth rate of the global bioanalytical testing services market during 2023-2028?
3. What has been the impact of COVID-19 on the global bioanalytical testing services market?
4. What are the key factors driving the global bioanalytical testing services market?
5. What is the breakup of the global bioanalytical testing services market based on the molecule type?
6. What is the breakup of the global bioanalytical testing services market based on the test type?
7. What is the breakup of the global bioanalytical testing services market based on the workflow?
8. What are the key regions in the global bioanalytical testing services market?
9. Who are the key players/companies in the global bioanalytical testing services market?