Product ID: SQMIG35H2168
Report ID: SQMIG35H2168 | Region: Global | Published Date: October, 2022 | Pages: 249 | Tables: 35 | Figures: 74
Biopharmaceutical Analytical Testing Services Market size was valued at USD 7.58 Billion in 2021 and is poised to grow from USD 8.06 Billion in 2022 to USD 13.2 Billion by 2030, at a CAGR of 6.36% during the forecast period (2023-2030).
The classification of proteins and other compounds is a major factor of success in biopharmaceutical development. Molecular understandings obtained by analytical methods guide the complete drug discovery and development process, from applicant monitoring studies to bioprocess optimization and drug release testing. Complex analytical technologies are important for answering questions about the structure and activity of complex biotherapeutics and related impurities. To meet the growing needs across biopharmaceutical R&D, a wide variety of analytical tools continue to develop. Analytical techniques are used to detect capable drug targets and candidates with the highest therapeutic potential.
The outbreak had a negative impact on the analytical testing services market in the region. A rise in the number of COVID cases led to the imposition of partial lockdowns in several countries, including Canada and Mexico. Although, lockdown restrictions in various countries were lifted to some extent in the second half of 2020, which allowed the movement of people and led to the continuation of laboratory work. Therefore, the reopening of life sciences services will drive the demand for biopharmaceutical analytical testing services in North America, which, in turn, will drive the regional Biopharmaceutical Analytical Testing Services Market during the forecast period.
US Biopharmaceutical Analytical Testing Services Market is poised to grow at a sustainable CAGR for the next forecast year.
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The Global Biopharmaceutical Analytical Testing Services Market is segmented on the basis of End-user, and Region. Based on End-user, the Biopharmaceutical Analytical Testing Services Market is segmented into Pharma Companies & Biotechnology Companies, CROs. Based on Region, the Global Biopharmaceutical Analytical Testing Services Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Biopharmaceutical Analytical Testing Services Market Analysis by End-User
Pharma Companies & Biotechnology Companies hold the largest share of the market worldwide with a whopping number of around 60% of the total Biopharmaceutical Analytical Testing Services Market revenue coming from this sector. As the expenses of developing and commercializing drugs are getting higher, companies continuously monitor things like drug purity and efficacy to prevent leaks. Therefore, continuous observation is required to check elements such as the purity and efficacy of drugs. Analytical tests are important to define the biological effects of particles. Thus, the growing demand and importance of analytical testing are encouraging the growth of the Biopharmaceutical Analytical Testing Services Market. The CRO segment would witness the highest growth in the near future.
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In 2021, North America dominated the Biopharmaceutical Analytical Testing Services Market with a market share of more than 30%. The US and Canada are the the largest revenue contributing countries in the region as stable economies and infrastructure support the launch of new biopharmaceuticals. Market growth in this region will be faster than the growth of the Biopharmaceutical Analytical Testing Services Market in the European, MEA, and South American regions. This will facilitate the biopharmaceutical analytical testing services market growth over the forecast period. The Asia Pacific and European regions will witness the highest growth in the near future.
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Biopharmaceutical Analytical Testing Services Market Driver
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The Global Biopharmaceutical Analytical Testing Services Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve Biopharmaceutical Analytical Testing Services Market share and profitability. Some of the major players in the market are OptimoRoute Inc, Alphabet Inc, Wise Systems Inc, and Caliper Corp among others who are driving the Biopharmaceutical Analytical Testing Services Market.
Biopharmaceutical Analytical Testing Services Market Top Player’s Company Profiles
Biopharmaceutical Analytical Testing Services Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the market by offerings and verticals.
According to our analysis, The global Biopharmaceutical Analytical Testing Services Market will be dominated by pharmaceutical and biotech companies. Companies constantly monitor topics like medicine purity and efficacy to prevent leakage as the costs of researching and commercializing drugs rise. With a Biopharmaceutical Analytical Testing Services Market share of more than 30% in 2021, North America dominated the Biopharmaceutical Analytical Testing Services Market. In the North American region, the United States is a significant Biopharmaceutical Analytical Testing Services Market for biopharmaceutical analytical testing services. The market in this region will grow faster than the markets in Europe, the Middle East, and South America.
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|Market size value in 2021||USD 7.58 Billion|
|Market size value in 2030||USD 13.2 Billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Biopharmaceutical Analytical 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 Global Biopharmaceutical Analytical 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.
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