The global bioanalytical testing services market is anticipated to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc. The performance of market players in bioanalytical testing domain is highly influenced by the level of demand from end-user side. Due to intense market efforts, increasing awareness level, improving accessibility, and government initiatives, consumers, these days, are more concerned about self-care, resulting in higher consumption of pharmaceutical products.
There is a major price difference observed between conducting analytical tests in-house and outsourcing. A company may lack the required set-up and expertise to perform every possible test in-house. In addition, there are serval no routine activities that are needed to be performed only once. These include registration stability storage & testing, process & facility validation work, cleaning validations, analytical testing using expensive equipment & method development.
The bioanalytical testing services market based on molecule type is bifurcated into small molecule testing and large molecule testing. Small molecule bioanalytical testing held a lucrative share in 2016. Most of the generic and branded drug compounds are of small molecule category. Additionally, with the patent expiration many blockbuster drugs, generic manufacturers are required to conduct and submit bioanalytical testing results. These factors primarily governed the growth of the small molecule drug bioanalytical testing market. On the contrary, large molecule bioanalytical testing services are anticipated to exhibit healthy growth over the forecast period. This can be attributed to a rich pipeline of biologics or amino acid based products.
U.S. bioanalytical testing services market, by large molecule-type, 2014 – 2025 (USD Million)
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Further key findings from the report suggest:
- Large molecule bioanalytical testing services are anticipated to exhibit healthy growth over the forecast period. This can be attributed to a rich pipeline of biologics or amino acid based products
- LC-MS studies are vital in bioanalysis of large molecules. They can be used for various methods such as development & validation, preclinical & clinical sample analysis, immunoanalytical solutions, and microfluidic tests for biologics
- In vivo ADME is designed to assess biopharmaceutical characteristic of a drug at preclinical level. Service providers offer customized study on variety of species. QWBA, mass balance, excretion, expired air collection in rodents, metabolite profiling, and radioactivity sample analysis are the key studies offered
- North America dominated the global bioanalytical testing services market in 2016. This can be attributed to the fact that it is one of the top manufacturing hubs of highly reliable, complex, and high-end pharmaceuticals
- Some of the key players in this market include PPD, ICON plc., Covance Inc., LabCorp, Charles River Laboratories International, Inc., inVentiv Health, SGS SA, Toxikon, Inc., Intertek group, and Pace Analytical Services, LLC.Collaborations, service portfolio expansion and merger & acquisitions are key strategic undertakings by these players
For more information: http://www.grandviewresearch.com