The global bioanalytical testing services market is anticipated to grow at a CAGR of 10.6% during the forecast period. The surge in the demand for new drugs and growing competition among pharmaceutical companies have significantly increased the demand for bioanalytical testing services. The companies have been increasingly using the advanced technology required to support challenging biomarkers, immunogenicity, pharmacokinetic (PK), and cell-based assay requirements. As the complexity of drug types from small molecules to biologics and gene therapy has evolved, the demand for technology in monitoring the drug levels in the body has also significantly increased. Technology, especially Machine Learning (ML) and Artificial Intelligence (AI), has taken over many manual operations in life sciences and supported avoiding human errors thereby saving the turnaround time (TAT) of the reports. AI allows identifying and characterizing special tissue and cell structures and reports quickly about sensitive biomarkers to prescribe accurate medicinal procedures. AI cover several diagnostic tasks in the lab and excels at the results which otherwise can be cumbersome.
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For instance, in April 2022, Charles River Laboratories Inc. and Valo Health, Inc. launched Logica, an artificial intelligence (AI) powered drug solution that directly translates clients’ biological insights into optimized preclinical assets. Logica uses Valo’s AI-powered Opal Computational Platform and Charles River’s leading preclinical expertise to function. In June 2018, WuXi AppTec, a China-based pharmaceutical technology company, partnered with artificial intelligence (AI) specialist Insilico Medicine to integrate Insilico’s AI technology with WuXi’s laboratory infrastructure.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Molecule
o By Test
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Charles River Laboratories Inc., Eurofins Scientific SE, SGS SA, Medpace, Inc., and Wuxi AppTec Co., Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Bioanalytical Testing Services Market Report by Segment
By Molecule
- Large Molecule
- Small Molecule
By Test
- Pharmacokinetic Test
- Pharmacodynamic Test
- Bioequivalence Test
- Bioavailability Test
- ADME Test
By Application
- Oncology
- Neurology
- Infectious Diseases
- Gastroenterology
- Cardiology
- Others
By End-User
- Pharmaceutical and Biopharmaceutical Companies
- Contract Development and Manufacturing Organizations
- Contract Research Organizations
- Others
A full report of Bioanalytical Testing Services Market is available at: https://www.omrglobal.com/industry-reports/bioanalytical-testing-services-market
Bioanalytical Testing Services Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Absorption Systems LLC
- Almac Group
- Bioneeds India Pvt. Ltd.
- CD BioSciences
- Covance, Inc.
- ICON plc
- Intertek Group Plc
- Laboratory Corporation of America Holdings
- Pace Analytical Services LLC
- Parexel International Corp.
- PPD, Inc.
- Sartorius AG
- Syneos Health
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