openPR Logo
Press release

Bioanalytical Testing Services Market - Industry Analysis, Size, Share, Growth, Opportunities, Demands, Trends Forecast, 2022-2031

07-27-2022 07:20 AM CET | Health & Medicine

Press release from: Transparency Market Research

Bioanalytical Testing Services

Bioanalytical Testing Services

Bioanalytical Testing Services Market Outlook 2031
The global bioanalytical testing services market was valued at US$ 2.11 Bn in 2021
The global market is projected to advance at a CAGR of 15.7% from 2022 to 2031

The global bioanalytical testing services market is anticipated to reach more than US$ 8.95 Bn by 2031

Report Overview:https://www.transparencymarketresearch.com/bioanalytical-testing-services-market.html

Bioanalytical Testing Services Market Trends
Rise in demand for biopharma products and increase in need to develop novel bioanalytical assay platforms are the key factors driving investments in bioanalytical R&D and laboratories. Increase in trend of outsourcing laboratory testing services for quality check has encouraged companies to offer various types of services and solutions in the market. This is anticipated to propel the bioanalytical testing services market. Growth in merger and acquisition activities across the globe is also augmenting the demand for bioanalytical assay services. For instance, in October 2021, BioAgilytix signed an agreement to acquire Australia-based 360biolabs.

COVID-19 Impact on Bioanalytical Testing Services Market
Bioanalytical diagnostic technologies play a crucial role in containing the COVID-19 pandemic. They are likely to help contain the future waves of the pandemic and infectious disease outbreaks. In the event of a major pandemic such as COVID-19, a combination of different diagnostic technologies (centralized and point-of-care, and reliance on multiple biomarkers) is required for effective diagnosis, treatment selection, prognosis, patient monitoring, and epidemiological surveillance. Several biotech and pharmaceutical companies have been focusing on developing effective technologies for rapid diagnosis of COVID-19. They have been concentrating on developing vaccines/therapeutics that can help mitigate the spread of the disease by ensuring appropriateness of care across all healthcare settings and achieving high-quality outcomes. This is driving the demand for bioanalytical assay services across the globe. For instance, CIRION BioPharma Research, Inc., a GLP-certified contract research laboratory based in the U.S., announced in July 2020 that it was expanding its bioanalytical testing services to support COVID-19 drug and vaccine development.

Request Sample:https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=45450

Increase in Usage of Immunogenicity and Immune-based Therapy to Propel Immunology Segment
Immunogenicity testing is required throughout the development process to assess the immune response in preclinical models using clinical samples. Immunogenicity testing examines antibodies created against a treatment. It helps establish efficacy and safety with assurance in vaccine and biologics production or gene therapy. Hence, immunology bioanalytical tests are crucial in the clinical phase for practically all modern medicines, from monoclonal antibodies (mAbs) for oncology to vaccine programs and gene & cell therapies. Any therapy that provokes an immune response requires clinical immunological testing to ensure that the response does not jeopardize patient safety. In terms of application, immunology is likely to be the fastest growing segment of the global market during the forecast period. Therefore, increase in usage of immunogenicity and immune-based therapy is projected to boost the immunology segment during the forecast period.

Rise in R&D Investment Augmenting Mass Spectroscopy Segment
The mass spectrometry segment is projected to account for major share of the global bioanalytical testing services market by 2031. R&D spending by pharmaceutical companies has increased significantly in the last two decades. Biopharmaceutical research is supported by investments in specialties such as biopharma and precision medicine. The study of large molecules is currently a hot topic of discussion in the bioanalytical community. Growing importance of peptides and proteins as therapeutic agents, combined with the significant opportunities provided by new MS-based technology, has opened up a whole new world for bioanalytical scientists. Rise in usage of mass spectrometers in pharmaceutical and biopharmaceutical industries and adoption of new applications in the bioanalytical testing services market are the key factors driving the mass spectroscopy segment.

Surge in Specialized Testing Services to Boost Biotech & Pharmaceuticals Companies Segment
Based on end-user, the biotech & pharmaceutical companies segment is projected to advance at a CAGR of 15.1% during the forecast period. Biotech and pharmaceutical companies are focusing on specialized testing services including gene expression analysis, liquid chromatography-mass spectrometry (LC/MS), raw material wet chemistry analysis, and metal analysis with inductive mass spectrometry (ICP-MS). Furthermore, pharmaceutical companies are increasing outsourcing of early-phase development, clinical, and laboratory testing services to boost revenue, avoid high capital spending, and decrease the time taken to validate processes and products.

Enquiry Before Buying:https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=45450

Regional Outlook of Global Bioanalytical Testing Services Market
North America is projected to be a highly attractive region of the global market during the forecast period. The region accounted for more than 45% share of the global market in 2021 due to the presence of large number of patients with various chronic diseases and rise in adoption of peptides and other large molecule therapeutics. According to the Centers for Disease Control and Prevention, more than 877,500 people in the U.S. succumb to heart disease or stroke every year (i.e., one-third of all deaths). These diseases take an economic toll, costing the health care system US$ 216 Bn per year.

Europe was the second largest bioanalytical testing services market in terms of revenue in 2021. High share of the region can be ascribed to the increase in investment in biotechnology and pharmaceutical R&D activities. Furthermore, rise in in cases of chronic diseases is driving the market in Europe. For instance, cardiovascular disease (CVD) accounted for 3.9 million deaths in Europe in 2017. Around 15% of CVD deaths in the region are due to high blood sugar. Prevalence of diabetes in the region is high. It has increased rapidly in the past 10 years, rising by more than 50% in several countries in the region. Hence, increase in incidence of diseases is propelling the market in Europe.

The market in Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period. Increase in clinical trial activities in emerging markets is primarily ascribed to factors such as cost savings, large treatment-naive population, retention of clinical trial participants, and constantly improving regulatory procedures. Furthermore, China's bioanalytical testing services have increased due to the growth in drug innovation and development activities in the last decade. This is expected to drive the market in the country during the forecast period.

Analysis of Key Players in Global Bioanalytical Testing Services Market
This report includes vital information about the key players operating in the global bioanalytical testing services market. Companies are focusing on strategies such as new product launches, divestiture, mergers & acquisitions (M&A), and partnerships to strengthen their position in the market. 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 are the prominent players operating in the global bioanalytical testing services market.

Request Customization:https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=45450

More Trending Reports Transparency Market Research:

Vascular Graft Market: https://www.transparencymarketresearch.com/vascular-graft-market.html

Nasal Dressings Market: https://www.transparencymarketresearch.com/nasal-dressings-market.html

Operating Room Equipment Market: https://www.transparencymarketresearch.com/operating-room-equipment-market.html

Japan Direct-to-Consumer Laboratory Testing Market: https://www.transparencymarketresearch.com/japan-direct-to-consumer-laboratory-testing-market.html

Nebulizers Market: https://www.transparencymarketresearch.com/nebulizer-market.html

Sports Medicine Devices Market: https://www.transparencymarketresearch.com/sports-medicine-device-market.html

Hearing Aids Market: https://www.transparencymarketresearch.com/hearing-aid-market.html

Plasma Sterilizers Market: https://www.transparencymarketresearch.com/plasma-sterilizers-market.html

Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Bioanalytical Testing Services Market - Industry Analysis, Size, Share, Growth, Opportunities, Demands, Trends Forecast, 2022-2031 here

News-ID: 2690908 • Views:

More Releases from Transparency Market Research

Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 - Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth. Uncover essential discoveries and trends from
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Radiopharmaceuticals to Propel Market Expansion | Transparency Market Research, Inc
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth. Discover essential conclusions and data from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100 Analysts' Viewpoint The Technetium‐99m
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to US$ 280 Million by 2030, Driven by Rising Equine Diseases and Diagnostic Advancements
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of 6.1%
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,

All 5 Releases


More Releases for Testing

Global Testing Market Size - By Product Type(Terpene Profiling Testing,Heavy Met …
Market Overview and Report Coverage testing refers to the scientific analysis and evaluation of products to ensure their safety, potency, and compliance with regulatory standards. This process typically involves testing for profiles, contaminants, pesticides, heavy metals, and microbial residues. As becomes increasingly legalized for medicinal and recreational use across various regions, the demand for reliable testing services is growing, ensuring consumers receive high-quality
Sterility Testing Market, Sterility Testing Market Analysis, Sterility Testing M …
"According to the research report, the global synthetic biology market was valued at USD 13.07 billion in 2022 and is expected to reach USD 71.51 billion by 2032, to grow at a CAGR of 18.5% during the forecast period." Request Our Free Sample Report for Synthetic Biology Market Insights and Emerging Trends @ https://www.polarismarketresearch.com/industry-analysis/synthetic-biology-market/request-for-sample Report Overview Polaris Market Research, a leading global market research and consulting company, has recently published its latest report
Hemato Oncology Testing Market Global Hemato Oncology Testing Market, Hemato Onc …
Global Hemato Oncology Testing Market Research report is an in-depth study of the market Analysis. Along with the most recent patterns and figures that uncovers a wide examination of the market offer. This report provides exhaustive coverage on geographical segmentation, latest demand scope, growth rate analysis with industry revenue and CAGR status. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study
Test Automation Market | latest automation testing tools, automation testing too …
Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Test Automation Market “ The “Test Automation Market” report provides analysis of the global test automation market for the period 2015–2025, wherein the years from 2017 to 2025 is the forecast period and 2016 is considered as the base year. The report precisely
Molecular Diagnostics Market Application On Infectious Disease Testing, Cardiova …
Worldwide Market Reports recently released “Global Molecular Diagnostics Market Research Report 2017” that centers around the latest developing trends and technologies in the Molecular Diagnostics Market having Five Years of forecast period from 2017 to 2022 and considering Market status study from 2017 to 2022. During the research, noteworthy data was collected in order to shape the research document and make it a valuable resource for managers, industry executives and other
Test Automation Market Quadruples by 2023; with a ~ 15.34 % of Whooping CAGR | C …
New Market Research Reports Title "Test Automation Market 2018" Has Been Added to Crystal Market Research Report database. Test Automation Market - Competitive Insights: The leading players in the market are Cognizant Corporation, IBM, Hewlett-Packard, Capgemini, Tata Consultancy Services and Infosys. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry. The Test