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Bioanalytical Testing Services Market could be worth 10,108.82 million by 2030,says Premium Market Insights
The global bioanalytical testing services market is expected to reach US$ 10,108.82 million in 2030 from US$ 4,641.13 million in 2022. The market is estimated to grow with a CAGR of 10.2% from 2022 to 2030.Bioanalytical Testing Services Market Forecast (2020-2030), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Service (Pharmacokinetics, Biomarkers, Immunogenicity, Virology Testing, Cell-Based Assays, and Others), Disease Indication (Cardiovascular, Neurological Disorders, Metabolic Disorders, Autoimmune Disorders, Respiratory Diseases, Oncology, Sexual Health, Bone Disease, and Others), End User [Pharmaceutical and Biopharmaceutical Companies, Contract Research Organization (CRO), Contract Development and Manufacturing Organization (CDMO), and Others], and GeographyGet PDF Sample Report + All Related Table and Graphs @: https://www.premiummarketinsights.com/sample/TIP00074081?utm_source=OpenPR&utm_medium=10823
Competitive Landscape: Bioanalytical Testing Services Market:
The research & development, production, and distribution of medicinal drugs and other pharmaceutical products are the major areas of the pharmaceutical industry. Global pharmaceutical consumption is rising with the increasing need for drugs to treat age-related diseases and chronic diseases. According to the WHO, the elderly population aged 60 or above is projected to double from 2020 to 2050, reaching ~2.1 billion by 2050. A rise in the geriatric population would contribute to a surge in incidences of chronic diseases, such as cardiovascular diseases, cancer, hypertension, osteoarthritis, and diabetes mellitus. Thus, chronic diseases have been a major area of focus for pharmaceutical companies
New drug development is a resource-, cost-, and time-intensive process, where later clinical stages result in significant costs. As per the United States Congressional Budget Office (CBO), it takes over 10-15 years and costs around US$ 1-2 billion to discover a drug and obtain regulatory approval. Therefore, to lower the attrition rate in drug research & development, pharmaceutical companies are focusing on following the good manufacturing practices (GMP) set by the US FDA and other major regulatory organizations. Several pharmaceutical companies are opting for bioanalytical testing services for drug development and validation of assays in both clinical and preclinical stages. Generics and branded drug compounds are mostly small molecules. Generics manufacturers conduct and submit bioanalytical testing results to overcome the issue of patent expiration. Thus, with the uninterrupted proliferation of the pharmaceutical industry, bioanalytical testing service providers are likely to experience a continuous rise in demand for their services in the future, which would lead to new growth opportunities in the bioanalytical testing services market.
SGS SA
Pharmaron Beijing Co Ltd
Element Materials Technology Group Ltd
CD BioSciences Inc
Charles River Laboratories International Inc.
Eurofins Scientific SE
Labcorp Drug Development Inc
Syneos Health Inc
KCAS Bioanalytical and Biomarker Services LLC
ICON Plc
Intertek Group Plc
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Chapter Details of Bioanalytical Testing Services Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Bioanalytical Testing Services Market Landscape
Part 04: Bioanalytical Testing Services Market Sizing
Part 05: Bioanalytical Testing Services Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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