25-July-2019: The global bioanalytical
testing services market size is anticipated to reach USD
4.83 billion by 2026, according to a new report by Grand View Research, Inc. It
is projected to register a CAGR of 7.5% during the forecast period. The
economic efficiency offered for outsourcing as compared to conducting an
in-house study is encouraging the outsourcing of these services that is
expected to boost the demand.
Innovation or new
Molecule development is directly proportional to the demand for testing
services. Due to pricing concerns, competitive pressures, and lead-time to
market, companies are opting for outsourcing of bioanalytical testing services.
The growing focus on customized care as well as on technological advancements
are lowering the molecule lifecycle, which has resulted into rapid development
of new molecules.
Performance of the
market players in the pharmaceutical analytical testing domain is greatly
influenced by the demand from end-user. Due to the increasing awareness level,
intense market efforts, government initiatives, and improving accessibility;
consumers, these days, are more anxious about personal care, leading to higher
consumption of pharmaceutical products. The rising consumption is projected to
drive the bioanalytical testing services market over the forecast period.
In
depth research report on Bioanalytical Testing Services Market
Further key findings from the report suggest:
·
Small molecule bioanalytical testing services held a
lucrative share in 2018, attributed to the maximum generic and branded drug
compounds coming under this category
·
Bioavailability (BA) and bioequivalence (BE) studies led in
2018 owing to the great adoption in generic drug manufacturing. Moreover,
emergence of biosimilars is anticipated to further propel the demand for BA and
BE over the forecast period
·
North America led the global bioanalytical testing services
market in 2018, attributed to the fact that it is one of the top manufacturing
hubs for highly reliable, complex, and high-end pharmaceuticals
·
Asia Pacific is anticipated to register the fastest CAGR over
the forecast period, owing to rising investments from many developed countries
coupled with various amendments in clinical trials evaluation standards
according to the global platform
·
Some of the key players 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 mergers and acquisitions are
the key strategic undertakings by these players.
Grand View Research
has segmented the global bioanalytical testing services market based on
molecule type, test type, and region:
Bioanalytical Testing Services Molecule Type Outlook
(Revenue, USD Million, 2014 - 2026)
·
Small Molecule
·
Large Molecule
·
LC-MS Studies
·
Immunoassays
·
Others
Bioanalytical Testing Services Test Type Outlook (Revenue,
USD Million, 2014 - 2026)
·
ADME
·
In-Vivo
·
In-Vitro
·
PK
·
PD
·
Bioavailability
·
Bioequivalence
·
Others
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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