The global Bioanalytical Testing Services market size is expected to be worth around US$ 6.8 billion by 2030, according to a new report by Vision Research Reports.
The global Bioanalytical Testing Services market size was valued at US$ 3.5 billion in 2020 and is anticipated to grow at a CAGR of 8.10% during forecast period 2021 to 2030.
The economic efficiency offered for outsourcing as compared to conducting an in-house study is encouraging the outsourcing of these services that is expected to boost the demand over the forecast period. Innovation or new molecule development is directly proportional to the demand for testing services. Due to pricing concerns, competitive pressures, and lead-time to market, companies are opting for outsourcing of testing services. The growing focus on customized care as well as on technological advancements is lowering the molecule lifecycle, which has resulted into rapid development of new molecules.
The market player’s performance in the pharmaceutical analytical testing domain is greatly influenced by the demand from end-user. Due to the increasing awareness level, intense market efforts, government initiatives, and improving accessibility, consumers, these days, are more anxious about leading to higher consumption of pharmaceutical products. The consumption levels are projected to rise exponentially over the forecast period.
Due to Covid-19 many universities has imposed complete campus lockdown and various other bioanalytical laboratories were suspended for sometimes. This has adversely impacted bioanalytical testing services industry. Also ‘wet lab’ bioanalytical research came to a complete standstill at several universities. But based on recent circumstances the situation has improved for many bioanalytical testing laboratories where activities can be continued in modified forms based on new guidelines.
The small molecule segment dominated the market for bioanalytical testing services and accounted for the largest revenue share of 55.6% in 2020. Most of the generic and branded drug compounds are of the small molecule category. Additionally, with the patent expiration of many blockbuster drugs, generic manufacturers are required to conduct and submit bioanalytical testing results. These factors primarily governed the growth of the small molecule drug bioanalytical testing market.
On the contrary, large molecule bioanalytical testing services are anticipated to exhibit healthy growth over the forecast period. This can be attributed to a rich pipeline of biologics or amino acid-based molecules. Moreover, testing these molecules requires technical know-how with advanced analytical instruments, the infrastructure for which is available with bioanalytical services providers. Hence, outsourcing bioanalytical testing of these molecules is likely to be the prevailing trend over the forecast duration.
Large molecules, also known as biologics, are based on proteins that have therapeutic effects. These large molecules are made up of several thousands of amino acids and can be heavy as 150kDa. The bioanalytical testing of large-molecule drugs is required throughout the development process (research to market). The pipeline for biologics is rich and the sale of biologics has increased exponentially over the years.
The sample analysis segment dominated the market for bioanalytical testing services and accounted for the largest revenue share of 45.9% in 2020. Sample analysis helps in determining the concentration of chemical elements or chemical compounds. Various techniques are used for sample analysis, varying from simple weighing techniques to advanced techniques by using specialized instruments. Sample analysis plays an important role in the drug development and marketing stages. This workflow helps in assessing the stability of drug molecules, quantitation of impurities, and identification of impurities present in the sample. Once the validation method has been appropriately verified, a bioanalytical analysis of the sample is performed. Sample analysis can enhance pharmacokinetic studies and an increase in their uptake is expected to impact the overall market growth.
Sample preparation is an analytical step that contains extraction procedures to help extract the component required from the matrix. The process varies based on the degree of selectivity, convenience, speed, and configurations of the extraction phase. Nontraditional extraction technologies are being introduced to address the growing demand for automation, reduction of solvent use, and miniaturization. These technologies result in on-site in situ and in vivo implementation. Proper sample preparation helps in minimizing the matrix risks, assay variability, and thus provide cleaner samples. Therefore, the integrity of the samples must be aligned from the time of collection to the moment of analysis, to avoid challenges, and to enhance the bioanalysis.
The Bioavailability (BA) segment dominated the market for bioanalytical testing services and held the largest revenue share of 18.6% in 2020. This can be attributed to the great demand for these services in generic drug manufacturing. The bioanalytical testing services market based on test type is segmented into Absorption Distribution Metabolism Excretion (ADME), Pharmacokinetics (PK), Pharmacodynamics (PD), bioavailability, bioequivalence, and other tests such as electrophoresis, electrochemical and titrimetric assays, and immunoassays.
Pharmacokinetics (PK) is the branch of pharmacology related to the fate of drug after administration. Dose, dosing interval, peak plasma concertation (Cmax), and time to reach peak plasma concentration (tmax), volume of distribution, elimination half-life, and elimination rate constant is vital and commonly measured PK parameters. Companies are using advanced methods for the determination of PK parameters.
For instance, Dry Blood Spot (DBS) technology offered by SGS has plenty of advantages over traditional methods. Minimal sample requirements, absence of post-collection processing, convenient sample shipment and storage, and low biohazard risks are the benefits of DBS method.
North America dominated the market for bioanalytical testing services and accounted for the largest revenue share of 50.9% in 2020. This can be attributed to the fact that it is one of the top manufacturing hubs of highly reliable, complex, and high-end pharmaceuticals. Consequently, original equipment manufacturers are increasingly moving toward electronics manufacturing service providers to efficiently handle the increasing volume of electronic components in the current pharmaceuticals.
The rapid increase in the manufacturing of pharmaceuticals to meet the rising demand for efficient healthcare in the region is expected to be one of the major factors propelling the development of the market. According to a recent study, in 2019, approximately 10% of the GDP was spent on the healthcare and medical sector. The pharmaceutical outsourcing market is anticipated to grow further due to the increasing government support to curb the healthcare expenses in the region.
Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to rising demand for outsourcing services in comparatively immature markets. Outsourcing services in this region are typically supported by delivery centers in China, Manila, and India. China is gaining popularity as a delivery location for onshore clients and nearshore clients that are based out of Japan.
Charles River Laboratories International, Inc.
Pace Analytical Services, LLC
Molecule Type Outlook
Test Type Outlook
Solid Phase Extraction
Ligand Binding Assay
Nuclear Magnetic Resonance
The Bioanalytical Testing Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Bioanalytical Testing Services market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Bioanalytical Testing Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Bioanalytical Testing Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Bioanalytical Testing Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Bioanalytical Testing Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Bioanalytical Testing Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Bioanalytical Testing Services market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Bioanalytical Testing Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Bioanalytical Testing Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Bioanalytical Testing Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Bioanalytical Testing Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Bioanalytical Testing Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Bioanalytical Testing Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Bioanalytical Testing Services market. These factors have benefited the growth of the global market for Bioanalytical Testing Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Bioanalytical Testing Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Bioanalytical Testing Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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