Vancouver, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) -- The global bioanalytical testing services market size is expected to reach USD 4.33 Billion in 2028 and register a steady CAGR during the forecast period, according to latest analysis by Emergen Research. Factors such as rising focus on analytical testing of biosimilars and biologics, increasing research and development expenditure in biopharmaceutical and pharmaceutical sectors, and growing adoption of Quality by Design (QbD) approach are boosting revenue growth of the global bioanalytical testing services market. Bioanalytical testing services involve quantitative measurement of drugs and their metabolites in biological fluids such as blood, serum, urine, plasma, or tissue extracts. Bioanalytical program includes sample preparation, development of bioanalytical method, validation, ensuring quantitative outcome that demonstrate accuracy, selectivity, precision, and stability.
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Liquid chromatography–mass spectrometry (LC–MS), gas chromatography–mass spectrometry (GC–MS), capillary electrophoresis–mass spectrometry (CE–MS), high performance liquid chromatography (HPLC) are some of the widely used techniques in bioanalytical testing services. Major prevalence of cancer, rising demand for generic drug development, increasing investment in drug development, and growing number of biotechnology companies are expected to drive revenue growth of the market going ahead.
.Some Key Findings in the Report:
- In November 2019, BioAgilytix acquired Cambridge Biomedical. This acquisition helped BioAgilytix to expand its business globally, and also strengthens its ability to support every phase of biologics development.
- Oncology segment accounted for largest revenue share in the global market in 2020. Rising number of clinical trials conducted for oncology and major prevalence of cancer are major factors driving revenue growth of this segment.
- North America accounted for a 32.3% revenue share contribution in the global market in 2020. Robust presence of key market players, developments in pharmaceutical biotechnology industries, and ongoing clinical trials are some major factors driving revenue growth of the market in this region.
- Key players operating in the market are Charles River Laboratories, Medpace, Inc., Wuxi AppTec, IQVIA, Inc, SGS SA, Laboratory Corporation of America Holdings, Intertek Group plc, PRA Health Sciences, Syneos Health, and Frontage Laboratories, Inc.
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For the purpose of this report, Emergen Research has segmented the global bioanalytical testing services market based on type, application, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Cell-based Assays
- Virology Testing
- Method Development Optimization and Validation
- Serology Immunogenicity and Neutralizing Antibodies
- Pharmacokinetic Testing
- Biomarker Testing
- Others
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Neurology
- Oncology
- Infectious Diseases
- Cardiology
- Gastroenterology
- Other
- End-Use Outlook (Revenue, USD Billion; 2018–2028)$1$1$1
- Biopharmaceutical and Pharmaceutical Companies
- Contract Development and Manufacturing Organizations
- Contract Research Organizations
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- Regional Outlook (Revenue: USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Spain
- Switzerland
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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