Bioanalytical Testing Services Market Size, Share, Growth Analysis, By Molecule(Small, Large, Others), Test Type (ADME, Pharmacokinetics (PK), Pharmacodynamics (PD), Bioavailability, Bioequivalence, Others), Workflow, Application, End User, and Region - Industry Forecast 2024-2031


Report ID: SQMIG35D2157 | Region: Global | Published Date: July, 2024
Pages: 219 |Tables: 155 |Figures: 78

Bioanalytical Testing Services Market Insights

Global Bioanalytical Testing Services Market size was valued at USD 2.42 Billion in 2022 and is poised to grow from USD 2.78 Billion in 2023 to USD 8.51 Billion by 2031, at a CAGR of 15 % during the forecast period (2024-2031). 

The purpose of the bioanalytical testing services market is to provide reliable and accurate testing services to pharmaceutical and biotech companies to help them bring safe and effective drugs to market.  The primary driving factor for the global bioanalytical testing services market is the increasing demand for drug development and regulatory approval services. The pharmaceutical and biotech industries are rapidly expanding, and the need for reliable and accurate testing services is growing. The major restraining factor for the global bioanalytical testing services market is the high cost of these services.  

The major challenges in the global bioanalytical testing services market are the lack of standardization in analytical methods and procedures. The variability in analytical methods and procedures used by different service providers can lead to inconsistent results, which can affect the reliability of the data generated.  The global bioanalytical testing services market offers several opportunities for service providers. The increasing demand for personalized medicine and targeted therapies is driving the need for more specialized and customized testing services.

Market Snapshot - 2024-2031

Global Market Size

USD 2.42 Billion

Largest Segment

Sample Analysis

Fastest Growth

Sample Preparation

Growth Rate

15% CAGR

Global Bioanalytical Testing Services Market ($ Bn)
Country Share for North America Region (%)

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Bioanalytical Testing Services Market Segmental Analysis

The global bioanalytical testing services market is segmented on the basis of type, application, end-user, workflow, and region. Based on type, the market is segmented into Cell based assays; Virology testing; Method development optimization and validation; Serology, immunogenicity and neutralizing antibiotics, Biomarker testing, Pharmacokinetics testing, and other services. Based on application, the market is segmented into Oncology, Neurology, Infectious diseases, Gastroenterology, Cardiology, and other applications. Based on end-user, the market is segmented into Pharmaceutical & biopharmaceutical companies, Contract development and manufacturing organizations, Contract research organizations. Based on workflow, the market is segmented into sample preparation and sample analysis. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.  

Analysis by Type 

The global bioanalytical testing services market is segmented based on the types, including Absorption Distribution Metabolism Excretion (ADME), Pharmacokinetics (PK), Pharmacodynamics (PD), bioavailability, bioequivalence, and other test types. The bioavailability segment has the largest market share, accounting for more than 18.7% of the global revenue in 2022. This is due to the high demand for such services in generic drug development, as well as the increasing consumer concern for self-care, which is driving the consumption of pharmaceutical products.  

The bioequivalence segment is expected to grow at a CAGR of 9.1% during the forecast period. End-users are expanding their testing capabilities and promoting in-house tests to meet the rising demand for pharmaceutical products. For example, SGS, a biopharmaceutical analytical and bioanalytical contract solutions provider, invested USD 3.95 million to expand its bioanalytical testing capabilities in Poitiers, France in December 2018. This growing accessibility to bioanalytical testing through various end-users is expected to drive the growth of the bioequivalence segment. 

Analysis by Application 

The market is segmented into Oncology, Neurology, Infectious diseases, Gastroenterology, Cardiology, and other applications. Oncology is poised to be the fastest-growing application segment in the bioanalytical testing services market due to a confluence of factors. Firstly, there's a significant rise in cancer diagnoses globally, pushing for the development of novel and targeted therapies. Secondly, the increasing complexity of these new drugs, particularly biologics and gene therapies, necessitates specialized bioanalytical testing to ensure their safety and effectiveness. Finally, the growing number of clinical trials for cancer treatments creates a strong demand for bioanalytical services to evaluate these drugs throughout the development process. This perfect storm of factors positions oncology as the segment with the most explosive growth potential in the bioanalytical testing services market.

Global Bioanalytical Testing Services Market Size By Workflow (%)

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Bioanalytical Testing Services Market Regional Insights

In 2022, North America dominated the global market accounting for over 46.2% of the largest revenue share. The region is expected to continue its steady growth with a constant CAGR throughout the forecast period, thanks to the increasing number of pharmaceutical industries in the United States and Canada. The strong presence of major market players is also expected to contribute to the region's growth. 

Europe is estimated to register the second-fastest CAGR from 2023 to 2030. Meanwhile, the Asia Pacific region is projected to be the fastest-growing regional market, with a CAGR of 9.1% over the forecast period. This growth can be attributed to the rising demand for outsourcing services in relatively immature markets. Outsourcing services in this region are typically supported by delivery centers in countries such as China, Manila, and India. China, in particular, is becoming a popular delivery location for onshore and nearshore clients based in Japan.

Global Bioanalytical Testing Services Market Size By Geography
  • Largest
  • Fastest

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Bioanalytical Testing Services Market Dynamics

Bioanalytical Testing Services Market Drivers

Increasing Demand for Personalized Medicine 

  • The demand for personalized medicine is increasing, and bioanalytical testing services play a crucial role in developing and testing personalized drugs. These tests help in determining the effectiveness of drugs on individual patients and also aid in selecting the most appropriate treatment plan for patients. For instance, in 2021, Q^2 Solutions, a global clinical trials laboratory services organization, expanded its biomarker capabilities to support clinical development of personalized medicine. This expansion included a new state-of-the-art flow cytometry laboratory in Scotland, UK. 

Growing Focus on Analytical Testing of Biologics and Biosimilars 

  • Biologics and biosimilars represent one of the most promising new therapeutic areas, and the focus on biosimilars has increased in recent years due to the high cost of biologics and the rising focus of various governments on reducing healthcare costs. This has created opportunities for the development of follow-on biologics or biosimilars. Bioanalytical testing services play a crucial role in reducing the risks associated with the development of biosimilars. For instance, in 2021, Covance, a global contract research organization, launched a suite of integrated biosimilar development solutions to provide comprehensive testing services for biosimilars. 

Restraints 

Dearth of Skilled Professionals 

  • One significant factor that is anticipated to limit the growth of this market is the lack of qualified individuals to operate the sophisticated equipment necessary for bioanalytical tests. By 2020, there are expected to be 18,580 openings in clinical laboratory science (CLS) programmes nationwide, according to the US Bureau of Labour Statistics. However, each year, only 5,000 pupils complete accredited CLS programmes. This indicates that less than one-third of the necessary trained professionals are being produced by educational programmes. This might make it more difficult for new technologies and methodologies to be adopted, which would limit the market's future growth. 

Pricing Pressure faced by Major Players

  • As more bioanalytical CROs enter the market, it is expected to become even more competitive and expand quickly. The competition in the market is also anticipated to get more intense due to the increase in contract development and manufacturing organizations (CDMOs) that offer bioanalytical services. A significant challenge for international players is the rise in the number of companies offering bioanalytical testing services in emerging markets like China, India, and Brazil over the past few years. The pricing pressure on international players is somewhat increased by the fact that these local or regional analytical testing service providers charge less for their services than do well-established bioanalytical testing service providers.

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Bioanalytical Testing Services Market Competitive Landscape

The global bioanalytical testing services market is competitive, with many players present.  These players are engaged in various growth strategies, such as mergers and acquisitions, partnerships, and collaborations, to enhance their market position. The competitive landscape of the global bioanalytical testing services market is expected to remain highly competitive with the increasing demand for these services and the entry of new players in the market. The market players are likely to focus on expanding their service offerings, developing innovative solutions, and forming strategic partnerships to maintain their market position.

Top Player’s Company Profiles in Bioanalytical Testing Services Market

Bioanalytical Testing Services Market Recent Developments

  • In January 2024, Kindeva Drug Delivery, in drug-device combination products, has enhanced its analytical services capabilities. This enhancement includes the establishment of a new global business unit that offers both integrated and stand-alone analytical support to the pharmaceutical, biopharmaceutical, and medical device industries. 

  • In November 2023, Resolian has successfully acquired Denali Medpharma, a leading bioanalytical CRO based in China. This acquisition expands Resolian's bioanalysis laboratory operations to include facilities in the U.S., UK, Australia, and China. 

  • In September 2023, Cerba HealthCare has acquired CIRION BioPharma Research, a Canadian contract research laboratory, to bolster its bioanalytical capabilities and facilitate the execution of intricate clinical trials.

Bioanalytical Testing Services Key Market Trends

  • Increasing preference for outsourcing analytical testing: Pharmaceutical companies are increasingly outsourcing bioanalytical testing services to third-party service providers to reduce costs, increase efficiency, and focus on their core competencies. This trend is expected to continue in the coming years.
  • Advancements in technology: Advancements in technology are enabling the development of more rapid and sensitive analytical techniques, which are in high demand in the bioanalytical testing services market. For instance, in 2021, BioAgilytix, a leading provider of bioanalytical testing services, announced the launch of its proprietary platform, BioBank, which uses artificial intelligence to automate data analysis, leading to faster turnaround times and increased accuracy.

Bioanalytical Testing Services Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. 

According to our global bioanalytical testing services market analysis, the  increasing R&D expenditure, the rising number of clinical trials, and the growing demand for biologics and biosimilars are the key growth drivers. The preference for outsourcing bioanalytical testing services is anticipated to create a favorable environment for market development. The increasing prevalence of chronic diseases, such as cancer and diabetes, has led to a surge in demand for new and innovative treatments. The introduction of biosimilars and the move toward continuous processing are also driving the need for more rapid and sensitive analytical techniques. The outsourcing of bioanalytical testing services supports pharmaceutical companies in avoiding large funds in purchasing analytical equipment and maintaining manpower, particularly when development efforts are in the initial stages. The global bioanalytical testing services market is expected to witness significant growth in the coming years, driven by increasing R&D expenditure, the rising number of clinical trials, and the growing demand for biologics and biosimilars. The preference for outsourcing bioanalytical testing services is also anticipated to create a favorable environment for market development. The market is facing challenges such as the high cost of bioanalytical testing services, lack of standardization, and shortage of skilled professionals.

Report Metric Details
Market size value in 2022 USD 2.42 Billion
Market size value in 2031 USD 8.51 Billion
Growth Rate 15%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Cell based assays (Bacterial cell-based assays, Viral cell-based assays), Virology testing (In-vitro virology testing, In-vivo testing, Species-specific viral PCR assays)
  • Application
    • Oncology, Neurology, Infectious diseases, Gastroenterology, Cardiology, other applications, and Others
  • End User
    • Pharmaceutical and Biopharmaceutical Companies, Contract Development and Manufacturing Organizations, and Contract Research Organizations
  • Workflow
    • Sample Preparation, and Sample Analysis
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Bioanalytical Testing Services Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Bioanalytical Testing Services Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Bioanalytical Testing Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bioanalytical Testing Services Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bioanalytical Testing Services Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Bioanalytical Testing Services Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Bioanalytical Testing Services Market size was valued at USD 2.42 Billion in 2022 and is poised to grow from USD 2.78 Billion in 2023 to USD 8.51 Billion by 2031, at a CAGR of 15 % during the forecast period (2024-2031). 

The global bioanalytical testing services market is competitive, with many players present.  These players are engaged in various growth strategies, such as mergers and acquisitions, partnerships, and collaborations, to enhance their market position. The competitive landscape of the global bioanalytical testing services market is expected to remain highly competitive with the increasing demand for these services and the entry of new players in the market. The market players are likely to focus on expanding their service offerings, developing innovative solutions, and forming strategic partnerships to maintain their market position. 'Eurofins Scientific SE (Luxembourg) ', 'Charles River Laboratories International, Inc. (US) ', 'Laboratory Corporation of America Holdings (US) ', 'WuXi AppTec (China) ', 'PPD, Inc. (US) ', 'Frontage Laboratories, Inc. (US) ', 'SGS SA (Switzerland) ', 'ICON plc (Ireland) ', 'Intertek Group plc (UK) ', 'Bioanalytical Systems, Inc. (US) ', 'Almac Group (UK) ', 'Anapharm (Canada) ', 'Pharmaron Beijing Co., Ltd. (China) ', 'Syneos Health (US) ', 'Celerion (US) ', 'BioAgilytix Labs (US) ', 'Medpace Holdings, Inc. (US) ', 'LGC Limited (UK) ', 'PSI CRO AG (Switzerland) ', 'Bioclinica (US)'

In 2022, North America dominated the global market accounting for over 46.2% of the largest revenue share. The region is expected to continue its steady growth with a constant CAGR throughout the forecast period, thanks to the increasing number of pharmaceutical industries in the United States and Canada. The strong presence of major market players is also expected to contribute to the region's growth. 

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