Bioanalysis testing is the quantitative assessment of analytes and their metabolites in a biological sample like a serum, blood plasma, or other body fluid. This testing is used in drug development and validated bioanalytical methods for the quantitative evaluation of analytes in the sample.
The increasing number of chronic diseases like cancer, diabetes, stroke, arthritis, and other heart ailments has been stressing drug discovery, drug development & testing, etc., further driving the revenue growth of the bioanalytical testing services.
Market Insights & Analysis: Global Bioanalytical Testing Services Market (2023-28)
The Global Bioanalytical Testing Services market is projected to grow at a CAGR of around 15.35% during the forecast period, 2023-28. The incessant need for Oral and Topical Drugs due to a consistent surge in the diagnosis of diseases has resulted in their high production. In addition to this, the increasing number of contract manufacturing companies like Icon, etc., expanding their development capacities across the globe to support the growing volume of batch production of biologics development, has assisted the growth of the Bioanalytical testing services.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific|
|South America: Brazil, Rest of South America|
|Middle East & Africa: GCC, South Africa, Rest of MEA|
|Key Companies Profiled||Charles River, Medpace holdings, ICON plc, Wuxi Apptech, Eurofins Scientific, Syenos Health, SGS SA, Intertek, PPD Inc., Bioneeds India Pvt Ltd., CD Bioscience Ltd., Pace Analytical, BioAgilitix, Alta Sciences, Others|
|Unit Denominations||USD Million/Billion|
Bioanalytical testing played a vital role at the time of the outbreak of COVID-19, as its need increased due to the growth in demand for vaccines, drugs, etc. Therefore, companies like Sinovac Biotech, J&J, Pfizer, etc., have ramped up their vaccine and drug manufacturing, which translated into an increased requirement for bioanalytical testing services. Additionally, the rising use of key techniques like liquid chromatography, automatic sample preparation, etc., which are quite efficient and reliable, led to the active adoption of these services by the companies operating in this space.
Additionally, to meet the rising demand for the development of the drug, pharmaceutical companies are opting for outsourced bioanalytical testing owing to an increase in the numbers and capabilities of Contractual research organizations (CRO). This is further escalating the revenue growth of the Global Bioanalytical Testing Services.
Global Bioanalytical Testing Services Market Key Trend:
Development of Rapid technology for early diagnosis - The rise in the spread of the COVID-19 pandemic and the increasing prevalence of diseases like tuberculosis, HIV, etc., among the residents, have notably increased the focus of many biotech and pharmaceutical companies to develop effective drugs for diagnosis. This has pushed various companies like Cirion Biopharma, CD biosciences, etc., to develop rapid technology for early detection of the disease with accuracy for the detection and ensure the appropriateness of the drug in all healthcare settings, which is catalyzing the demand for Bioanalytical testing services in Healthcare. For instance,
Additionally, the rise in unhealthy eating habits among teenagers and adults is anticipated to further increase the disease risk, owing to which, drug manufacturers including Pfizer, and Novartis, among others are increasingly focusing on new drug discoveries. These initiatives of the drug manufacturers are expected to further escalate the growth of Global Bioanalytical Testing Services during 2023-2028.
Global Bioanalytical Testing Services Market Covid-19 Impact
The spread of the pandemic has affected the demand for effective vaccines, treatment, and medical services. Therefore, bioanalytical testing services were also surging during this period. As hospitals and medical centers were reliant on point care services for early screening and detection of viruses in patients, these factors have augmented the growth of the bioanalytical service during the pandemic. Additionally, Covid-19 has brought forward various innovative technologies such as mass spectrometry, liquid chromatography, etc., which have eliminated testing time consumption and increased productivity in Bioanalytical Testing.
Global Bioanalytical Testing Services Market (2023-28): Segmentation Analysis
The Global Bioanalytical Testing Services Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the Test Type, and End User the market has been further classified as:
Based on Test Type
Of them all, Serology, Immunogenicity, and Neutralizing Antibodies testing are the most widely prevailing testing techniques, as they are required throughout the development process to assess the immune response in preclinical models using clinical samples to detect antibodies created against a treatment. It allows the organization to establish efficacy and safety along with enhancing the reliability of the vaccine and biologics production process. The increasing use of serology, immunogenicity, and neutralizing antibodies-based testing during the clinical phase for the development of monoclonal antibodies (mAbs) to ensure that the response does not jeopardize patient safety is intensifying the demand for bioanalytical testing from the segment.
Hence, the intensified use of immunogenicity and immune-based therapy due to the rising instance of immune disorders among adults and kinds globally due to the rise in unhealthy eating habits is projected to boost immunology testing services during the forecast period as well.
Based on the End User
Among all the above applications, Pharmaceutical & Biotechnology Companies accounted for the major share of the Global Bioanalytical Testing Services market during the historical years, owing to their enhanced use of bioanalytical testing for disease detection through blood samples, & urine samples, etc., Additionally, the rising focus of companies on the development of rapid technologies for disease diagnosis and the development of vaccines & therapeutics which can help mitigate the spread of hospital-acquired infections across all healthcare facilities has further driven the demand for bioanalytical testing services.
Global Bioanalytical Testing Services Market Regional Projection
Geographically, the Global Bioanalytical Testing Services Market expands across:
North America dominated the bioanalytical Testing Services market in 2022, owing to the rising drug development activities in the region to develop effective drugs to cure the growing number of communicable & genomic diseases.
The region holds the largest share due to the occurrence of various chronic diseases like Diabetes, Cancer, etc., which leads to increased adoption of large molecule therapeutics as an alternative to small molecules that can lead to side effects. For instance: According to the International Diabetes Federation, in 2021, about 51 million adults in North America were living with diabetes, and the disease occurrence would continue to grow in the coming years. Consequently, companies such as Charles River, CD Biosciences, etc., have been taking initiatives to develop effective drugs and increase the testing volume to meet the higher need for bioanalysis of novel therapeutics to stop the growing number of diabetic patients.
Global Bioanalytical Testing Services Industry Recent Developments
Global Bioanalytical Testing Services Market Key Driver:
Upsurge in the Number of Chronic Diseases Would Drive the Market Growth - The spread of chronic diseases like cancer, diabetes, stroke, arthritis, and other heart ailments has been enhancing drug discovery, drug development, and testing, which is further driving the need for bioanalytical testing services. Additionally, increasing drug development and the rising investment by biotechnology companies including Sysmex, Thermofisher Qiagen, etc., for the adoption of advanced technologies are contributing to the demand for bioanalytical testing services across the globe.
Moreover, the global rise in cancer patients and the amplified number of tests related to oncology are also responsible for the rising requirements for bioanalytical testing services. For instance, according to the International Diabetes Federation, in 2021, approximately 537 million adults (20-79 years) were diagnosed with diabetes, and the number of patients would rise to 643 million by 2030. As the diabetic population globally is anticipated surge by over 100 million adults, the demand for bioanalytical testing for blood samples is also expected to surge in the coming years.
Furthermore, funding by the government of several countries such as the US, India, the UK, etc., towards contract research organizations for the development of biosimilar drugs are some of the factors that are likely to fuel the overall growth of the bioanalytical testing services industry during 2023-2028.
Global Bioanalytical Testing Services Market Possible Restraint:
Lack of Skilled Professionals to Deter the Growth of the Market - The lack of experienced or skilled professionals in the healthcare industry is posing a hindrance to the market growth of bioanalytical testing services globally. As the testing methods involve the use of advanced technologies and sampling, the need for professional medical staff for both drug development and testing is significant. Additionally, developed countries are mandating that vendors and manufacturers comply with the regulations imposed on the testing industry. These regulations enhance the quality and consistency of the data and thereby support the approval of chemical or biological drugs. Thus, laboratories and research centers require trained personnel to perform the tests, else, a lack of competent employees may result in health hazards, contributing to a low adoption rate of this technology.
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Frequently Asked Questions
A. The growth rate or CAGR of the Bioanalytical Testing Services Market during 2023-28 is 15.35%
A. Pharmaceutical and biotechnology companies is the leading end user in the Bioanalytical Testing Services Market during 2023-28
A. Upsurge of chronic disease is the expected to drive the Bioanalytical Testing Services Market during 2023-28
A. Charles River, Medpace holdings, ICON plc, IQVIA, Wuxi Apptech, Eurofins Scientific, Syenos Health, SGS SA, Intertek, PPD Inc., Bioneeds India Pvt Ltd., CD Bioscience Ltd., Pace Analytical, BioAgilitix, Alta Science are some of the prominent players in the Bioanalytical Testing Services Market during 2023-28
A. North America is expected to emerge as a promising region for the Bioanalytical Testing Services.
A. Lacked of skilled professionals to provide bioanalytical testing services is hindering the market growth.
Global Bioanalytical Testing Services Market Research Report (2023-2028) - Table of Contents