Latest Study on “Bioanalytical Services Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Bioanalytical Services market size is expected to be worth around US$ xx billion by 2027, according to a new report by nova one advisor.
The global Bioanalytical Services market size was valued at US$ xx billion in 2021 and is anticipated to grow at a CAGR of xx% during forecast period 2021 to 2027.
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|Market Size||USD 11.9 Billion by 2027|
|Growth Rate||CAGR of 7.6% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Service, Type, End-user and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||BEUMER Group; Daifuku Co., Ltd.; Honeywell International Inc.; Kion Group AG; Mecalux, S.A; Murata Machinery Ltd.; SSI Schaefer AG; Swisslog Holding AG; Toyota Material Handling Group; Vanderlande Industries B.V|
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Bioanalytical testing is useful for quantitative determination of drugs and metabolites in biological samples. The primary objective of bioanalytical services is the qualitative & quantitative estimation of an analyte with its biological stability, safety, purity, quality, and efficacy.
Major factors expected to drive the global bioanalytical services market during the forecast period are increase in demand for bioanalytical testing services due to rise in prevalence of infectious diseases, HIV, and other diseases. Additionally, surge in government initiatives to control outbreaks of infectious diseases such as coronavirus is expected to present opportunities in the market.
North America held major share of the global bioanalytical services market in 2020, due to the presence of large number of key players, increase in focus on analytical testing of biologics & biosimilars, and rise in R&D expenditure in the pharmaceutical and biopharmaceutical Industry in the U.S. The bioanalytical services market in Asia Pacific is expected to expand at a high CAGR of 9.0% from 2021 to 2027, due to rise in prevalence of diseases and increase in launch of new products by the key players. This, in turn, is likely to drive the demand for bioanalytical services in emerging markets such as India and China.
A recent study by Yen-Heng Lin from Chang Gung University in 2020 stated that automatic glass capillary immunoassay platform is effective for detecting anti-p53 autoantibody in oral cavity squamous cell carcinoma. Another study by a group of researchers from the Department of Veterinary Parasitology in 2020 revealed that loop-mediated isothermal amplification (LAMP) assay can be used for detection of Hepatozoon canis infection in dogs. In 2019, a conference in Pittcon stated that the powerful separation capabilities of ultra-high-performance liquid chromatography (UHPLC) combined with its speed and good resolution can make it a valuable tool for detailed characterization of biopharmaceuticals. These are used in combination with detection capability such as UV or light scattering, and additional structural information can be acquired using mass spectrometry. Such a multidimensional analytical approach serves to increase the potential sensitivity and makes it possible to characterize more complex proteins.
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Bioanalytical Services Market: Key Segments analysis:
In terms of service, the global bioanalytical services market has been classified 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. The immunochemistry service segment held major share of the global bioanalytical services market in 2020, and the trend is anticipated to continue during the forecast period.
Based on type, the global bioanalytical services market has been categorized into small molecule analysis, large molecule analysis, and others. The small molecule analysis segment accounted for majority of the market share in 2020.
Based on end-user, the global bioanalytical services market has been divided into pharma & biotechnology companies, contract research organization, and others
The market value and forecast for each of these segments have been provided from 2017 to 2027. The CAGRs of respective segments have also been provided from 2021 to 2027, considering 2017 to 2019 as the historical years and 2020 as base year.
North America to Dominate Global Market; Asia Pacific to Offer Significant Incremental Opportunities
In terms of region, the global bioanalytical services market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for leading share of the global bioanalytical services market during the forecast period. According to the International Diabetes Federation, about 48 million adults in North America were living with diabetes in 2019, and the number is expected to increase, leading to higher demand for bioanalysis of novel therapeutics. Hence, rise in demand for bioanalytical services, large number of ongoing clinical trials, and increase in investment by major pharmaceutical companies are the key factors driving the global market in the country.
The U.S. accounted for the largest share of the bioanalytical services market in North America due to increase in patient pool of various chronic diseases, and rise in adoption of peptides and other large molecule therapeutics as an alternative for small molecules that have more side effects. According to the Centers for Disease Control and Prevention, around US$ 3.5 Mn is spent on chronic diseases in the U.S. Therefore, companies have been taking initiatives to meet the demand, which is anticipated to drive the market.
The bioanalytical services market in Asia Pacific is likely to grow at a rapid pace over the next few years. India, China, and South Korea are projected to be lucrative markets in the near future. Healthcare expenditure is increasing for cosmetic treatments and surgeries. Several research centers have identified the need to create personalized and custom drugs and innovative medicine as a part bioanalytical services. Rise in investment in drug development and R&D by biopharmaceutical companies fuels the growth of the bioanalytical services market.
Companies and Manufacturers Covered
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight. These insights were thoroughly analyzed and prime business strategies and products that offer high revenue generation capacities were indentified. Key players of the global Bioanalytical Services market are included as given below:
Some of the prominent players in the Bioanalytical Services market include:
PPD, Inc., ICON plc, Laboratory Corporation of America, Charles River Laboratories International, Inc., Syneos Health, SGS SA, Toxikon, Inc., Intertek Group, Pace Analytical Services, Medpace, PRA HEALTH SCIENCES, WuXi AppTec, IQVIA, and Eurofins Scientific.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
Bioanalytical Services Market, by Service
- Immunochemistry Services
- Quantitative Immunoassays
- Cell-based Neutralization Assays
- LCMS Method Development
- Discovery Phase Bioanalysis
- LCMS Sample Bioanalysis
- GCP Bioanalysis Service
- Biomarker Assays
- Protein Analysis
Bioanalytical Services Market, by Type
- Small Molecule Bioanalysis
- Large Molecule Bioanalysis
Bioanalytical Services Market, by End-user
- Pharma & Biotechnology Companies
- Contract Research Organizations
Why should you invest in this report?
If you are aiming to enter the global Bioanalytical Services market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Bioanalytical Services are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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