The Global Bioanalytical Services Market was valued at Us$ 5.57 Billion in 2021 and is predictable to reach US$ 11.42 billion by 2030; growing at a CAGR of 8.3 % during the forecast period from 2021- 2030.
Bioanalysis is termed as a branch of analytical chemistry that deals with the biological samples for the analysis of measuring biological molecules, large molecules, and DNA. Bioanalytical services comprise pre-clinical tests, analysis of clinical samples, fluid or specimen testing, investigation of infection of viruses inside the body, among others.
Rising factor attributing to the surge in the global bioanalytical service market is owing to the growing need for specific tests in the research and development activities such as in pharmaceuticals and biotechnology and the huge investments by the numerous key players. Higher costs and longer time duration are needed for in-house bioanalytical services are the major factors accelerating the growth of the bioanalytical services market. Owing to such factors, outsourcing the bioanalytical services by the biotechnology and pharmaceutical to numerous contact research organizations (CRO) to present in the market by generating more revenue prospects. Moreover, rising cases of chronic diseases and increased cost due to such diseases is generating the need for new and innovative drugs to be introduced in the global market. Increasing need for smaller and larger molecular analytical services such as tissue bioanalysis, electrochemical & titrimetric assays, electrophoresis, immunochemistry services, immunoassays, among others are rendering as a lucrative option for the manufacturers to elevate the revenue in the bioanalytical services market.
However, higher cost associated with the drug discovery and presence of skilled and expert workforce is expected to restrain the growth of the global bioanalysis services market during the forecast period. Increasing clinical trials, government support to improve the healthcare infrastructure, and regulatory measures by the government are major steps for the key players to elevate the market growth.
The Global Bioanalytical Services Market is segmented by molecule type, service, test type, end-user, and region. Based on molecule type, it is categorized into small molecule bioanalysis, large molecule bioanalysis, and others. By service, it bifurcates into Immunochemistry Services, Quantitative Immunoassays, Cell-based Neutralization Assays, LCMS Method Development, Discovery Phase Bioanalysis, LCMS Sample Bioanalysis, GCP Bioanalysis Service, Biomarker Assays, Protein Analysis, and Others. Test type is bifurcated into pharmacokinetic, bioavailability, ADME (absorption, distribution, metabolism, and excretion), pharmacodynamics, and bioequivalence. By end-user, it segments into contract research organizations (CRO), pharma & biotechnology companies, and others. Based on regional insights, the global bioanalytical services market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
Prominent players inducing the Global Bioanalytical Services Market are ICON plc, Charles River Laboratories International Inc., SGS S.A., Toxikon Inc., Pace Analytical Services, PRA HEALTH SCIENCES, IQVIA, PPD Inc., Laboratory Corporation of America, Syneos Health, Intertek Group, Medpace, WuXi AppTec, and Eurofins Scientific among others.
Segmentation and Scope of the Global Bioanalytical Services Market
Global Bioanalytical Services Market is segmented by molecule type, service, test type, end-user, and region.
By Molecule Type
By Test Type
Rest of World
Middle East & Africa
Prominent players in the Global Bioanalytical Services Market among other includes