Bioanalytical Testing Services Market Size Estimated to Reach a Value of US$ 8.95 Bn by end of 2031, according to TMR Research

Posted on 2024-03-06 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-06 — /EPR Network/ — Transparency Market Research Inc. –

In 2021, the global bioanalytical testing services industry reached a valuation of US$ 2.11 billion. Projections indicate significant advancement, with the market expected to grow at a Compound Annual Growth Rate (CAGR) of 15.7% from 2022 to 2031. By 2031, it is anticipated to exceed US$ 8.95 billion.

Bioanalytical testing serves the quantitative determination of drug and metabolite properties in biological fluids, including blood, plasma, serum, urine, or tissue extracts. The market’s growth is fueled by increasing demand for biopharmaceutical products and the expanding utilization of biosimilars, particularly in treating conditions like diabetes and cancer. Notably, pharmaceutical companies, bioanalytical laboratories, and Contract Research Organizations (CROs) are amplifying their bioanalytical services and investing in bioanalytical testing laboratories to meet these demands.

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Bioanalytical Testing Services Market Trends

The surge in demand for biopharmaceutical products and the necessity for innovative bioanalytical assay platforms are driving investments in bioanalytical R&D and laboratories. Outsourcing laboratory testing services for quality checks has become a prevalent trend, leading companies to offer diverse services and solutions in the market, thus fueling its growth. Additionally, the rise in merger and acquisition activities worldwide is further boosting the demand for bioanalytical assay services. An example of this is BioAgilytix’s agreement to acquire Australia-based 360biolabs in October 2021.

Key Players:

Charles River Laboratories International, Inc., Bioreliance Corporation, Intertek Group plc, Eurofins Scientific SE, BioclinResearch Laboratories, Labcorp, Wuxi AppTec, Envigo, BioAgilytix Labs, Syneos Health, and Frontage Labs

Market Segmentation:

Testing Type
- Cell-based Assays
- Virology Testing
- Serology, Immunogenicity, and Neutralizing Antibodies
- Toxicology Services
- Biomarker Testing
- Pharmacokinetic Testing
- Other services

Application
- Oncology
- Neurology
- Metabolic Disorders
- Hematology
- Immunology
- Orthopedics
- Others

End-user
- Biotech & Pharmaceuticals Company
- CDMO & CMO
- Clinical Research Organizations
- Healthcare Institutes

Technology
- Mass Spectrometry
- Chromatography

Key Developments:

In October 2021, SGS completed clinical bioanalysis laboratory expansion in France. The addition includes a new 800 m2 building that houses additional drug development equipment as well as office space. The expansion includes chromatography and immunoassay laboratories and bioanalytical testing services, which are expected to increase production capacity. The site’s existing capabilities would be supplemented with new capabilities such as mass spectrometry, immunoanalysis, clinical bioanalysis, and cell-based bioassays.
In September 2021, Envigo announced a partnership with Biocytogen to distribute the B-NDG triple immunodeficient and humanizable mouse mode
In September 2020, Almac Sciences, a member of the Almac Group, announced the addition of biologics testing to its existing suite of analytical solutions. This new offering comes on the heels of the company’s announcement in 2019 of the expansion of its Ireland laboratory, from which Almac Sciences provides a comprehensive range of flexible pharmaceutical testing services to support clients’ drug development programs, while adhering to industry regulations such as the FDA, EMA, and PMDA under GMP standards.

Regional Outlook:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

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Market Drivers and Challenges:

Drivers: Increasing demand for personalized medicine, growing emphasis on precision medicine, rising prevalence of chronic diseases, advancements in analytical technologies, and the outsourcing of bioanalytical testing services by pharmaceutical companies.
Challenges: Stringent regulatory requirements, high cost associated with bioanalytical testing services, shortage of skilled professionals, and data security concerns.

Market Trends:

Adoption of advanced analytical techniques such as liquid chromatography-mass spectrometry (LC-MS), high-performance liquid chromatography (HPLC), and immunoassays.
Increasing focus on bioanalysis of biologics, gene therapies, and cell-based therapies.
Rising adoption of bioanalytical testing services in emerging markets.

Future Outlook:

The bioanalytical testing services market is expected to witness continued growth in the coming years, driven by ongoing advancements in analytical technologies, increasing outsourcing of bioanalytical testing services, and the growing complexity of drug development processes.

Key Market Study Points:

Market size and growth projections
Segment-wise analysis
Regional dynamics
Market drivers and challenges
Emerging trends and opportunities

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