Global Bioanalytical Testing Services Market Trends and Forecast 2028: Growth & Market Size

The Global Bioanalytical Testing Services market is projected to grow at a CAGR of around 15.35% during the forecast period, 2023-28.
Global Bioanalytical Testing Services Market Dynamics:
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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Market Dimensions & Projections
· Pricing Evaluation
· Recent Strategic Moves by Companies
· Primary Stakeholders
· Import/Export Trend Analysis
· Competitive Landscape Assessment
· Emerging Opportunities
· Market Trends and Indicators
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Global Bioanalytical Testing Services Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2022
-Historical Period: 2018 to 2021
-Forecast Period: 2023-28
- 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
- Cell-Based Assay
- 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
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - 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
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