Asia Pacific Bioanalytical Testing Services Market Forecast to 2030 - Regional Analysis - by Services (Pharmacokinetics, Biomarkers, Immunogenicity, Virology Testing, Cell-based assays, and Others); Disease Indication (Cardiovascular, Neurological Disorde

Asia Pacific Bioanalytical Testing Services Market Forecast to 2030 - Regional Analysis - by Services (Pharmacokinetics, Biomarkers, Immunogenicity, Virology Testing, Cell-based assays, and Others); Disease Indication (Cardiovascular, Neurological Disorders, Metabolic Disorders, Autoimmune Disorders, Respiratory Diseases, Oncology, Sexual Health, Bone Disease, and Others); and End User [Pharmaceutical and Biopharmaceutical Companies, Contract Research Organization (CRO), Contract Development And Manufacturing Organization (CDMO), and Others]

The Asia Pacific bioanalytical testing services market was valued at US$ 1,004.33 million in 2022 and is expected to reach US$ 2,252.88 million by 2030; it is estimated to grow at a CAGR of 10.6% from 2022 to 2030.

Uninterrupted Growth of Pharmaceuticals Industry Companies Fuel the Asia Pacific Bioanalytical Testing Services Market

The research & development, production, and distribution of medicinal drugs and other pharmaceutical products are the major areas of the pharmaceutical industry. Global pharmaceutical consumption is rising with the increasing need for drugs to treat age-related diseases and chronic diseases. According to the WHO, the elderly population aged 60 or above is projected to double from 2020 to 2050, reaching ~2.1 billion by 2050. A rise in the geriatric population would contribute to a surge in incidences of chronic diseases, such as cardiovascular diseases, cancer, hypertension, osteoarthritis, and diabetes mellitus. Thus, chronic diseases have been a major area of focus for pharmaceutical companies.

New drug development is a resource-, cost-, and time-intensive process, where later clinical stages result in significant costs. Several pharmaceutical companies are opting for bioanalytical testing services for drug development and validation of assays in both clinical and preclinical stages. Generics and branded drug compounds are mostly small molecules. Generics manufacturers conduct and submit bioanalytical testing results to overcome the issue of patent expiration. Thus, with the uninterrupted proliferation of the pharmaceutical industry, bioanalytical testing service providers are likely to experience a continuous rise in demand for their services in the future, which would lead to new growth opportunity in the bioanalytical testing services market.

Asia Pacific Bioanalytical Testing Services Market Overview

The Asia Pacific bioanalytical testing services market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. The Asia Pacific bioanalytical testing services market is expected to witness the highest growth during the study period due to the increasing demand for outsourcing services in the low-cost labor markets. Delivery centers in Indonesia, India, and China typically support outsourcing services in this region. China is gaining popularity as a delivery location for both onshore and offshore customers based in Japan. Additionally, governments across the region place increasing importance on preventing the spread of infectious diseases, contributing significantly to the expansion of the bioanalytical testing services market. For instance, Ministries of Health, local universities, and Non-Governmental Organizations (NGOs) to ensure continued support and sustainability of this capacity-building initiative. The implementation research training was part of a broader program of collaborative research projects based on surveillance and response in the Indo-Pacific region - the Partners in Tropical Health project.

Asia Pacific Bioanalytical Testing Services Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Bioanalytical Testing Services Market Segmentation

The Asia Pacific bioanalytical testing services market is segmented based on test type, disease indication, end user, and country.

Based on test type, the Asia Pacific bioanalytical testing services market is segmented into pharmacokinetics, biomarkers, immunogenicity, virology testing, cell-based assays, and others. The cell-based assays segment held the largest market share in 2022.

Based on disease indication, the Asia Pacific bioanalytical testing services market is segmented into cardiovascular, neurological disorders, metabolic disorders, respiratory diseases, autoimmune disorder, oncology, sexual health, bone disease, and others. The oncology segment held the largest market share in 2022.

Based on end user, the Asia Pacific bioanalytical testing services market is segmented into pharmaceutical and biopharmaceutical companies, contract research organization (CRO), contract development and manufacturing organization (CDMO), and others. The pharmaceutical and biopharmaceutical companies segment held the largest market share in 2022.

Based on country, the Asia Pacific bioanalytical testing services market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific bioanalytical testing services market share in 2022.

SGS SA, Pharmaron Beijing Co Ltd, Element Materials Technology Group Ltd, Charles River Laboratories International Inc, Eurofins Scientific SE, Labcorp Drug Development Inc, Syneos Health Inc, ICON Plc, and Intertek Group Plc are some of the leading companies operating in the Asia Pacific bioanalytical testing services market.

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