IMARC Group, a leading market research company, has recently releases report titled “Bioanalytical Testing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global bioanalytical testing services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the bioanalytical testing services market?

The global bioanalytical testing services market size reached US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.

What are bioanalytical testing services?

Bioanalytical testing services encompass the quantitative measurement of drug concentrations, metabolites, and pharmacodynamic biomarkers in biological fluids. They depend on the utilization of established and validated methods to detect analytes and metabolites in various complex biological matrices, such as urine, serum, blood, saliva, plasma, breast milk, cell lysates, cell culture media, tissue homogenates, cerebrospinal fluid (CSF), and wastewater from pharmaceutical production. Bioanalytical testing services ensure accurate, precise, selective, and stable results and guarantee the reliability of sample analysis. Consequently, they are extensively utilized across the globe.

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What are the growth prospects and trends in the bioanalytical testing services industry?

The bioanalytical testing services market is experiencing a positive influence from the elevating prevalence of chronic health conditions across the globe, owing to sedentary lifestyles and the consumption of fast food. Furthermore, the rising demand for personalized medical treatments and the increasing usage of the testing service by biopharmaceutical companies for assay validation and drug development, both in preclinical and clinical stages, are acting as significant growth-inducing factors.

Additionally, the escalating requirement for bioanalytical testing services for point-of-care (POC) diagnostics, on account of the rapid transmission of the COVID-19 disease, coupled with the absence of effective vaccines and treatments, is further stimulating the global market.

Apart from this, the emerging trend among numerous companies of incorporating innovative techniques, including mass spectrometry, immunochemistry, Ultra-Performance Liquid Chromatography (UPLC), automated sample preparation using robotics or turbulent flow, and large sample storage combined with bar code systems, to offer rapid high-volume analyses and the growing improvements in healthcare infrastructure are expected to augment the bioanalytical testing services market in the coming years.

Who are the key players operating in the industry?

The report covers the major market players including: 

  • Almac Group
  • Charles River Laboratories International Inc.
  • Frontage Laboratories Inc.
  • ICON plc
  • Intertek Group plc
  • Laboratory Corporation of America Holdings
  • Pace Analytical Services LLC
  • PPD Inc.
  • PRA Health Sciences
  • SGS SA
  • Syneos Health
  • Toxikon Corporation

Key Market Segmentation:

The report has segmented the market into the following categories: 

Breakup by Molecule Type:

  • Small Molecule
  • Large Molecule

Breakup by Test Type:

  • ADME
  • PK
  • PD
  • Bioavailability
  • Bioequivalence
  • Others

Breakup by Workflow:

  • Sample Preparation
  • Sample Analysis
  • Others

Breakup by Region:

  • North America
  • Asia-Pacific
  • India
  • Europe
  • Latin America
  • Middle East and Africa

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.   

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