Bioanalytical Testing Services Market Worth $7.65 Billion By 2030

The global bioanalytical testing services market size was valued at USD 3.64 billion in 2021 and is expected to reach USD 7.65 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030. The growing trend in the outsourcing of research & development activities by biopharmaceutical companies for streamlining their fundamental capabilities is one of the primary factors boosting the market growth. Furthermore, the COVID-19 outbreak supported in the enhancement of the demand for testing services as the rapid rise in infection cases significantly proliferated the production of an enormous batch of vaccines throughout the world.

North America dominated the global bioanalytical testing services market, accounting for a revenue share of over 46% in 2021. The market in the region is anticipated to further expand at a lucrative growth rate, upholding the leading position during the forecast period. This can be attributable to the rise in the number of pharmaceutical companies in countries, including the U.S. and Canada. Moreover, the robust presence of abundant key market players is another factor contributing to the market growth in North America.

The key market players are undertaking different strategic initiatives, such as portfolio expansion, collaborations, and mergers & acquisitions for maintaining their foothold in the global market. For instance, SGS SA declared the expansion of its new facility for bioanalytical testing in Glasgow in October 2021. The vendors in the market are also bettering their market position by offering various services and developing advanced methods, assay validations, and various other laboratory solutions. Additionally, in light of the pandemic, numerous vendors in the market expanded their capacities of offering testing services for new viral threats by employing rapid and advanced testing platforms. These initiatives are expected to be opportunistic for the growth of the market.

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Bioanalytical Testing Services Market Report Highlights

• Based on molecule, the small molecules segment led the global market, contributing to a market share of 56% in 2021. The increase in the demand for the development of generic drugs is propelling the growth of the segment

• Based on test, the bioequivalence segment is expected to garner the fastest CAGR from 2022 to 2030. This can be credited to the surge in the rate of drug manufacturing outsourcing services throughout the world

• Based on workflow, the sample analysis workflow held the largest market share in 2021

• North America dominated the market in 2021 owing to the strong presence of a massive number of pharmaceutical vendors in the U.S.

• The Asia Pacific region is projected to register the fastest CAGR in the forecast period

Bioanalytical Testing Services Market Report Segments

Bioanalytical Testing Services Molecule Outlook (Revenue, USD Billion, 2018 - 2030)
    • Small Molecule
    • Large Molecule
        • LC-MS Studies
        • Immunoassays
            • PK
            • ADA
            • Others
    • Others

Bioanalytical Testing Services Test Outlook (Revenue, USD Billion, 2018 - 2030)
    • ADME
        • In-Vivo
        • In-Vitro
    • PK
    • PD
    • Bioavailability
    • Bioequivalence
    • Others

Bioanalytical Testing Services Workflow Outlook (Revenue, USD Billion, 2018 - 2030)
    • Sample Preparation
        • Protein Precipitation
        • Liquid-Liquid Extraction
        • Solid Phase Extraction
    • Sample Analysis
        • Hyphenated Technique
        • Chromatographic Technique
        • Electrophoresis
        • Ligand Binding Assay
        • Mass Spectrometry
        • Nuclear Magnetic Resonance
    • Other Workflow Processes

Bioanalytical Testing Services Therapeutic Area Outlook (Revenue, USD Billion, 2018 - 2030)
    • Oncology
    • Neurology
    • Metabolic Disorders
    • Hematology
    • Immunology
    • Orthopedics
    • Others

Bioanalytical Testing Services End-user Outlook (Revenue, USD Billion, 2018 - 2030)
    • Pharmaceutical and Biotechnology Companies
    • Contract Development and Manufacturing Organization
    • Contract Research Organization
    • Others

Bioanalytical Testing Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)
    • North America
        • U.S.
        • Canada
    • Europe
        • France
        • U.K.
        • Germany
        • Italy
        • Spain
        • The Netherlands
        • Switzerland
        • Sweden
    • Asia Pacific
        • Japan
        • China
        • India
        • Indonesia
        • Malaysia
        • Singapore
        • South Korea
        • Thailand
        • Taiwan
        • Australia
    • Latin America
        • Brazil
        • Mexico
        • Argentina
        • Colombia
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • UAE
        • Israel

List of Key Players in Bioanalytical Testing Services Market
    • PPD, Inc.
    • ICON Plc
    • Charles River Laboratories International
    • Covance, Inc.
    • IQVIA
    • Syneos Health
    • SGS SA
    • Toxikon
    • Intertek Group Plc
    • Pace Analytical Services LLC