Selbyville, Delaware , April 19, 2022 (GLOBE NEWSWIRE) --
Global CRO mass spectroscopy services market value is projected to cross USD 1.7 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing number of clinical trials coupled with rising prevalence of chronic diseases is expected to boost the overall business landscape.
Increasing focus of pharmaceutical and biopharmaceutical companies on novel drug development for the treatment of various chronic diseases will drive the market expansion. The rate of new drug approvals has increased drastically over time. Furthermore, growing number of these new medications are first-in-class pharmaceuticals with novel mechanisms of action, and the number of NME approvals designated as orphan drugs has risen considerably. As numerous pharmaceutical, biopharmaceutical and medical device companies are outsourcing R&D activities owing to aforementioned benefits, it is likely to optimistically influence the CRO mass spectroscopy services industry revenue.
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Proteomics services segment is anticipated to grow at 16.8% CAGR from 2022 to 2028. Proteomics data are increasingly combined with combined genomics information in the multi-omics studies. It enhances basic research and drug development projects. Also, proteomics is a significant technology used in various analytical applications that comprises drug development, cancer proteomics research and diagnosis and treatment of chronic diseases. The varied application of proteomics services is predicted to create a lucrative opportunity for the CRO mass spectroscopy service providers.
Some major findings of the global CRO mass spectroscopy services market report include:
- Increasing adoption of proteomics services will contribute to the market demand.
- Large population base coupled with increasing prevalence of chronic diseases will foster the Asia Pacific market share.
- Market players are focusing on various strategies such as acquisition, business expansion, mergers, and innovative product launches to consolidate their market presence.
Browse key industry insights spread across 138 pages with 111 market data tables & 14 figures & charts from the report, “CRO Mass Spectroscopy Services Market Forecast By Service Type (Proteomics Services, Metabolomics Services), End-use (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/CRO-mass-spectroscopy-services-market
Pharmaceutical & biopharmaceutical companies segment is projected to witness 17.1% CAGR during the analysis period. Increasing prevalence of chronic diseases and increasing demand for novel drugs for the treatment will boost the industry statistics. Furthermore, surging outsourcing of R&D and rising government support coupled with growing demand for CRO mass spectroscopy services that will augment the market development.
Asia Pacific CRO mass spectroscopy services market is estimated to register 16.5% CAGR during the forecast timeframe. The increasing disease burden, increase in outsourcing by pharmaceutical and biotechnology companies, and a paradigm shift towards outsourcing clinical trials in the region will impel the market revenue in APAC. Also, increasing outsourcing coupled with increasing drug development for chronic disease conditions is expected to enhance the regional market outlook.
A few prominent companies operating in the CRO mass spectroscopy services market include Alturas Analytics, Inc., BGI Group, Charles River Laboratories International, Inc, Creative Proteomics, Evotec SE, Inotiv, Inc. (formerly Bioanalytical Systems, Inc., Labcorp Drug Development, MtoZ-Biolabs Inc., PPD Inc., WuXi AppTec, Eurofins Scientific, MS Bioworks, Novatia LLC, Alphalyse, Metabolon, Inc., biocrates life sciences ag, Biognosys, Proteome Sciences, Rapid Novor, Inc, iBET, BioCAT GmbH, Olink, AxisPharm, MtoZ-Biolabs Inc, Somalogic Inc, and Seer Inc.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
