Burlingame, Jan. 24, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global bio analytical testing services market is estimated to be valued at US$ 3,198.9 million in 2022 and is expected to exhibit a CAGR of 11.7% during the forecast period (2022-2030).
Analysts' Views on Global Bio analytical Testing Services Market:
The market players are focused on inorganic stratergies such as acquisition is expected to drive the growth of the global bio analytical testing services market over the forecast period. For instance, On August 2, 2022, Frontage Laboratories, Inc. is a full service Contract Research Organization (CRO) laboratory announced complete the acquisition of Frontage Clinical Services Inc., a clinical Phase I-IIa business located in New Jersy, U.S. Frontage Clinical provides a complete suite of services from study design to the delivery of final reports. This completed acquisition allows future investment in and enhancement of current capabilities and service offerings as well as expansion into new study areas including studies in drug discovery and development.
Key Trends and Analysis of the Global Bio analytical Testing Services Market:
Global Bio analytical Testing Services Market - Drivers
Increasing inorganic strategies such as acquisitions by market players
Increasing inorganic strategies such as acquisitions by market players may drive the growth of the global bio analytical testing services market over the forecast period. For instance, on May 31, 2022, CCR, an integrated Contract Research Organization active in testing for the pharmaceutical, (agro) chemical, and biotech industry, announced the acquisition of Accelero Bioanalytics. Accelero is a Good Laboratory Practice (GLP) and Good Clinical Practice (GCP)-qualified laboratory, with a strong focus on providing services in regulatory non-clinical and clinical development of Advanced Therapy Medicinal Products (ATMP) and biologics.The acquisition strengthens the geographical footprint and reinforces CCR's platform to further accelerate the deployment of desired testing methodologies to support the pharmaceutical and biotech industries across the entire drug development cycle.
The increasing adoption of bioanalytical testing for gene and cell therapeutic products
The increasing adoption of bioanalytical testing for gene and cell therapeutic products is expected to drive the grwoth of global bio analytical testing services market over the forecast period. For instance, on November 21, 2022, an article published stated that Gene and cell therapies open up new opportunities for drug developers to develop cures for genetic disorders and previously incurable diseases. But with this chance there come complex bioanalytical test for considerations. Regulations frequently lag behind developments in biopharmaceuticals. Drug researchers should anticipate specific issues with safety tests, pharmacokinetics (PK), immunogenicity, pharmacodynamic (PD) biomarkers, and inclusion/exclusion tests by collaborating with a reputable laboratory testing partner and creating creative solutions for each.
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Global Bio analytical Testing Services Market - Restraints
The expansion of the global market for bioanalytical testing services is anticipated to be hampered by difficulties in the development of analytical techniques. Manufacturing of pharmaceuticals and biotechnology products relies heavily on analytical procedures. However, due to extremely strict requirements for technique sensitivity, reproducibility, sample throughput, and analysis speed, the development of bioanalytical methods has grown increasingly difficult over time. The market for bioanalytical testing services is consequently seeing slow expansion.
Global Bio analytical Testing Services Market Cross Sectional Analysis:
By Method Type, the small molecules segment is dominant in the Asia Pacific market, due to increasing facility expansion by market players in various countries. For instance, on December 7, 2022, Alliance Pharma (Alliance), a global company providing bioanalytical, optimal drug metabolism, and pharmacokinetics (DMPK) opened its new 20,000-square-foot (1,858-square-meter) bioanalytical laboratory, Alliance Pharma Pty, Ltd., in Brisbane, Australia. The new Australia facility, which the company announced plans which includes an expansive lab to provide much-needed small and large-molecule bioanalytical services for a Australia with limited choices for bioanalytical support. This is expected to rise the demand for Bio analytical testing products in various countries.
Global Bioanalytical Testing Services Market Segmentation:
The global bioanalytical testing services market report is segmented into Method Type, Test Type, and Geography.
Based on Method Type, the market is segmented into Small Molecules and Large Molecules. Of which, Small Molecules Segment is expected to dominate the global bioanalytical testing services market over the forecast period owing to the increasing inorganic activities such as Strategic Growth Investment among market players
Based on Test Type, the market is segmented into Bioavailability and Bioequivalence Studies, Pharmacokinetics, Pharmacodynamics, and Other Test Types. Out of which, Bioavailability and Bioequivalence Studies Segment is expected to dominate the market over the forecast period and this is attributed to the increase in demand for novel therapeutics due to the increase in burden of chronic diseases, such as heart disease, cancer, diabetes, and others, worldwide.
Global Bio analytical Testing Services Market: Key Developments
On September 30, 2022, Frontage Laboratories, Inc. has announced the opening of a custom- laboratory in California,U.S. The custom-built state of the art facility was designed by Biologics Services Department specifically to support the local Bay Area biotech and pharmaceutical community, with services including exploratory and GLP-compliant Ligand Binding Assay (LBA) services, supporting pharmacokinetics (PK), immunogenicity (ADA), and biomarker analysis for protein therapeutics. In addition, the new laboratory will support Bioanalytical Services Department in providing R&D and GLP compliant, quantitative mass spectrometry services to biotech and pharmaceutical industries, including all preclinical and clinical PK/TK/DDI/BA/BE, protein binding and biomarker services..
On February 14, 2022, SGS Société Générale de Surveillance SA announced opening of new bioanalytical laboratory in Shanghai, China. This completed the first phase of the project, in which a 600 m2 bioanalytical laboratory was equipped with leading instrumentation and equipment including a Watson LIMS system and WinNonlin software.
Key Market Takeaways:
The global bio analytical testing services market is expected to exhibit a CAGR of 11.7% during the forecast period. Key market players focus on inorganic activities such as agreements to enhance vaccine production capacities. In February 2021, in order to increase its capacity for producing vaccines, Nexelis, a company providing advanced assay development and laboratory testing services, entered into an asset purchase agreement with GlaxoSmithKline, to purchase GSK's clinical bioanalytical laboratory in Marburg, Germany, which is Good Clinical Laboratory Practices (GCLP)-certified.
Based on Method Types, the large molecules segment is dominant because the market players are focused on research and development activities by expanding New Biologics Analytical Division. For instance, on August 18, 2022, Emery Pharma, a full-service contract research laboratory, officially expanded its state-of-the-art laboratories, which feature a brand-new high-resolution Orbitrap mass spectrometer, enabling Emery Pharma to expand its service offerings. The extension of its new laboratory is streamlined to support the research and development of large-molecule drugs, including biologics, antibody-drug conjugates, biosimilars, and more.
Based on Test Type, The pharmacodynamics segment is expected to hold a dominant position over the forecast period owing to the shifting focus of market players on providing new pharmacodynamic services in the market. For instance, on March 3, 2020, Agilex Biolabs, a bioanalytical laboratory, announced that the company is starting new pharmacodynamic services for biotechnology and pharmaceutical clients conducting preclinical and clinical trials in Asia, the U.S., Europe, and Australia. The company is also focused on providing additional pharmacodynamic services in new labs at the Agilex Biolabs facility in Australia.
Competitive Landscape:
Key players operating in the global bio analytical testing services market include PPD Inc., Icon Plc, Syneos Health, Laboratory Corporation of America Holdings, and Charles River Laboratories International Inc., among others
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Market Segmentation:
- Global Bioanalytical Testing Services Market, By Method Type:
- Small Molecules
- Large Molecules
- Global Bioanalytical Testing Services Market, By Test Type:
- Bioavailability and Bioequivalence Studies
- Pharmacokinetics
- Pharmacodynamics
- Other Test Types
- Global Bioanalytical Testing Services Market, By Geography:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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