Vancouver, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) – The global bioanalytical testing services market size is expected to reach $ 4.33 billion in 2028 and record a stable CAGR over the forecast period, according to the latest analysis from Emergen Research. Factors such as the growing attention given to analytical testing of biosimilars and biologics, increasing research and development spending in the biopharmaceutical and pharmaceutical sectors and the growing adoption of the Quality by Design (QbD) approach drive revenue growth in the global bioanalytical testing services market. Bioanalytical testing services involve the quantitative measurement of drugs and their metabolites in biological fluids such as blood, serum, urine, plasma or tissue extracts. The bioanalytical program includes sample preparation, development of the bioanalytical method, validation, guarantee of quantitative results 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 techniques widely used in bioanalytical testing services. The major prevalence of cancer, increasing demand for generic drug development, increasing investment in drug development, and growing number of biotechnology companies are expected to drive the market revenue growth in the future.
.Some key findings from the report:
- In November 2019, BioAgilytix acquired Cambridge Biomedical. This acquisition has helped BioAgilytix expand its business globally and also strengthens its ability to support every phase of biologics development.
- The oncology segment accounted for the largest revenue share in the global market in 2020. The increasing number of clinical trials conducted for oncology and the major prevalence of cancer are the major revenue growth factors of this segment.
- North America accounted for a 32.3% contribution to the revenue share in the global market in 2020. The strong presence of key market players, developments in the pharmaceutical biotechnology industries and ongoing clinical trials are some of the major drivers of market revenue growth in this region.
- The major 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 on the basis of type, application, end use, and region:
- Type Outlook (Revenue, billion USD; 2018-2028)
- Cellular assays
- Virology test
- Optimization and validation of method development
- Serological immunogenicity and neutralizing antibodies
- Pharmacokinetic tests
- Biomarker testing
- Application Outlook (Revenue, billion USD; 2018-2028)
- Infectious diseases
- End-use Outlook (Revenue, $ 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
- The rest of europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of MEA
- North America
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