According to the latest report by IMARC Group, titled “Bioanalytical Testing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
Year considered to estimate the market size:
• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027
The global bioanalytical testing services market reached a value of US$ 2.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.90 Billion by 2027, exhibiting a CAGR of 11.31% during 2022-2027.
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Bioanalytical testing services are used to quantitatively determine metabolites and drugs in various biological matrices, such as serum, blood, plasma, tissue, and urine. They are primarily employed in the early drug development phase and clinical trials to validate analytes, demonstrate precision, stability, and selectivity. Bioanalytical testing services are extensively applied in pharmacology, toxicology, pharmacokinetic, and bioavailability studies.
The global bioanalytical testing services market is majorly being driven by the rising prevalence of chronic diseases and the increasing preference for personalized medical treatments. Amidst the global outbreak of the coronavirus disease (COVID-19), governments of various nations are increasingly using these services to provide point-of-care (POC) diagnostic and develop effective vaccines, which is further contributing to the market growth.
Additionally, the rising healthcare expenditure and the incorporation of various innovative techniques in sample preparation are catalyzing the market growth. Other factors, including the emerging trend of outsourcing laboratory testing services and the adoption of quality-by-design approaches in pharmaceutical research, are creating a positive outlook for the market.
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List of Key Companies Covered in this Global Bioanalytical Testing Services Market Report:
• Almac Group
• Charles River Laboratories International Inc. (NYSE: CRL)
• Frontage Laboratories Inc.
• ICON plc (NASDAQ: ICLR)
• Intertek Group plc (OTCMKTS: IKTSY)
• Laboratory Corporation of America Holdings (NYSE: LH)
• Pace Analytical Services LLC
• PPD Inc.
• PRA Health Sciences
• SGS SA (OTCMKTS: SGSOY)
• Syneos Health (NASDAQ: SYNH)
• Toxikon Corporation
The report has segmented the global bioanalytical testing services market on the basis of molecule type, test type, workflow and region.
Based on Molecule Type:
• Small Molecule
• Large Molecule
Based on Test Type:
Based on Workflow:
• Sample Preparation
• Sample Analysis
• 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
Explore Full Report Description At: https://www.imarcgroup.com/bioanalytical-testing-services-market
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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