The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Bioanalytical Testing Services Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.

In-Depth Market Overview of Bioanalytical Testing Services Industry (2023-2028):

According to the latest report, The Bioanalytical Testing Services Market is projected to grow at a CAGR of around 15.35% during the forecast period, 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the Bioanalytical Testing Services industry.

Key Takeaways: Beneficial for Stakeholders and Clients:

• Historical Data: 2018-21
• Base Year: 2022
• Forecast Period: 2023-28
• CAGR (2023-2028): 15.35%

What are the major Driver the Bioanalytical Testing Services industry?

Upsurge in the Number of Chronic Diseases Would Drive the Market Growth - The spread of chronic diseases like cancer, diabetes, stroke, arthritis, and other heart ailments has been enhancing drug discovery, drug development, and testing, which is further driving the need for bioanalytical testing services. Additionally, increasing drug development and the rising investment by biotechnology companies including Sysmex, Thermofisher Qiagen, etc., for the adoption of advanced technologies are contributing to the demand for bioanalytical testing services across the globe.

Moreover, the global rise in cancer patients and the amplified number of tests related to oncology are also responsible for the rising requirements for bioanalytical testing services. For instance, according to the International Diabetes Federation, in 2021, approximately 537 million adults (20-79 years) were diagnosed with diabetes, and the number of patients would rise to 643 million by 2030. As the diabetic population globally is anticipated surge by over 100 million adults, the demand for bioanalytical testing for blood samples is also expected to surge in the coming years.

Furthermore, funding by the government of several countries such as the US, India, the UK, etc., towards contract research organizations for the development of biosimilar drugs are some of the factors that are likely to fuel the overall growth of the bioanalytical testing services industry during 2023-2028.

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Bioanalytical Testing Services Market Segmentation

The Bioanalytical Testing Services Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

• By Test Type
• Cell-Based Assay
• Bacterial Cell-Based Assay
• Viral Cell-Based Assay
• Virology Testing
• In Vivo Virology Testing
• In Vitro Virology Testing
• Method validation and Optimization
• Serology, Immunogenicity and Neutralizing Antibodies
• Biomarker testing
• Pharmacokinetic testing
• Others
• By Application
• Oncology
• Neurology
• Infectious disease
• Cardiology
• Gastroenterology
• Others
•  By Molecule Type
• Small Molecule
• Large Molecule
• By End User
• Pharmaceutical & Biotechnology Companies
• Contractual Development & Manufacturer Organisation
• Contract Research Organisation
• By Region
• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

As per the regional aspect, the Bioanalytical Testing Services Market is expected to be dominated by North America by capturing the potential market share.

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Top Companies in the Bioanalytical Testing Services Market

Charles River, Medpace holdings, ICON plc, Wuxi Apptech, Eurofins Scientific, Syenos Health, SGS SA, Intertek, PPD Inc., Bioneeds India Pvt Ltd., CD Bioscience Ltd., Pace Analytical, BioAgilitix, Alta Sciences, Others

Bioanalytical Testing Services Industry Recent Development:

In 2022, Alta Science announced the expansion of its facility in Colombia, Missouri to provide bioanalytical service to support preclinical and clinical studies, and offers services including mass spectroscopy, flow cytometry, cell cultures, and others.

In 2022, SGS SA announced the expansion of its bioanalytical testing laboratory, in Shanghai, China. That includes the study of liposomes, albumin binding, proteins, peptides, and small nucleic and poly-nucleic acids to gather critical data and submit drug declarations to get their products to market quickly and safely.

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