Bioanalytical Testing Services Market - Trends Forecast Till 2028

Market Overview

The global Bioanalytical Testing Services size is projected to reach a CAGR of 12.59% from 2022-2028.

Bioanalysis involves quantitative measurement of xenobiotics, like small molecule drugs and their metabolites and biological molecules. Bioanalytical testing services are used in the development and validation of robust bioanalytical methods in body fluids and tissue specimens. These tests are used to support pre-clinical and Phase I through Phase IV clinical trials.

The increased necessity for specific types of tests in R&D activities and the increasing trend of outsourcing laboratory testing services are some of the factors that have supported long-term expansion for Bioanalytical Testing Services.

Bioanalytical technologies have played a critical role in the mitigation of the COVID-19 pandemic and will continue to be foundational in the prevention of the subsequent waves of this pandemic, along with future infectious disease outbreaks.

Regional Analysis

North America is expected to dominate the bioanalytical testing services market, and this trend is expected to continue over the forecast period. This is majorly attributed to the rising demand for bioanalytical services with a high volume of ongoing research activities and clinical trials, which fuels the market growth in the region.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• SGS SA
• Syneos Health Inc
• Charles River Laboratories Inc
• Laboratory Corporation of America Holdings
• ICON Plc

Recent Developments

• In February 2020, Frontage Holdings Corporation, a contract research organization, announced the expansion of its bioanalytical laboratories in Exton, PA, through its wholly-owned subsidiary, Frontage Laboratories, Inc. This will enhance the bioanalytical capabilities in biologics and small molecule drug development, including cell and gene therapies, biomarkers testing, and high-throughput clinical sample management.
• In January 2020, Charles River Laboratories entered into an exclusive partnership with Fios Genomics. Through this partnership, Charles River clients will have access to Fios Genomics expertise in bioinformatics, statistics, and biology to assist in the sourcing and analysis of the high-dimensional, multi-variant datasets associated with drug development, including microarrays, next-generation sequencing (NGS), proteomics, metabolomics, and epigenetics as well as the associated meta-data.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
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• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope