Bioanalytical Services Market to See Huge Demand by 2030: Charles River Laboratories International, LabCorp, WuXi PharmaTech
According to HTF Market Intelligence, the Global Bioanalytical Services market to witness a CAGR of 5.62% during forecast period of 2023-2028. The market is segmented by Global Bioanalytical Services Market Breakdown by Application (Pharmaceutical Industry, Biotechnology, Medical Device Industry) by Type (Discovery bioanalysis services, Non-clinical bioanalysis services, Clinical bioanalysis services) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Bioanalytical Services market size is estimated to increase by USD 1871.63 Million at a CAGR of 5.62% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 4824.37 Million.
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Definition:
The bioanalytical services market refers to the industry that provides laboratory testing services to support the development and approval of drugs and medical devices. These services include the analysis of biological samples (such as blood, urine, and tissue) to determine the concentration of drugs, metabolites, and other substances in the body. Bioanalytical services are an essential part of the drug development process, as they help to ensure the safety and efficacy of new therapies before they are approved for use in humans. The market for bioanalytical services includes contract research organizations (CROs), clinical research organizations (CROs), and academic research laboratories that provide these services to pharmaceutical and biotechnology companies.
Bioanalytical Services market – Key Segment Analysis
The market share growth by the Clinical bioanalysis services segment will be significant during the forecast period. The segment is driven by the Lack of skilled professionals to carry out activities.
Bioanalytical Services market – Competition Analysis
The global Bioanalytical Services market is seeing several joint ventures to intensify the capability of manufacturers and/or companies to establish geographic footprints to new territory. The vendors are accelerating M&A strategies to expand their geographical reach, which is shaping the market toward new growth cycle. The list of players that are profiled in the study are Charles River Laboratories International Inc. (United States), LabCorp (United States), WuXi PharmaTech (Cayman) Inc. (China), IQVIA (United States), Eurofins Scientific SE (Luxembourg), Syneos Health (United States), SGS (Switzerland), PPD Inc. (United States), PRA Health Sciences (United States), BioReliance Corporation (United States).
Bioanalytical Services market – Geographical Outlook
Europe will provide maximum growth opportunities in Bioanalytical Services market. According to our research, the region will account for 29% of the global market growth during the forecast period. The market in Europe is driven by Increase in investment by biopharmaceutical companies in R&D and drug development.
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What key data is demonstrated in this Bioanalytical Services market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Bioanalytical Services market between 2023 and 2028
- Precise estimation of the size of the Bioanalytical Services market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behaviour
- Value in dollar term and growth of the market industry across APAC, Europe, North America, South America, and Middle Eastand Africa; further broken down by major country within region.
- Thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Bioanalytical Services market players
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Some Extracts from Table of Content
Some Extracts from Table of Content
– Overview of Bioanalytical Services Market
– Market dynamics
Growth Drivers, Market Trends, Opportunities and Challenges
– Five Forces Analysis
Bargaining power of buyers, bargaining power of suppliers, Threat of new entrants, Threat of substitutes, Threat of rivalry
– Bioanalytical Services Size (USD & Sales Volume) Comparison by Type (2017-2028)
– Bioanalytical Services Size (USD & Consumption) and Market Share Comparison by Application (2017-2028)
– Bioanalytical Services Size (Value & Volume) Comparison by Region (2017-2028)
– Market Capacity, Production, Export-Import by Region (2017-2022E)
– Bioanalytical Services Market Sales, Revenue and Growth Rate (2017-2028)
– Competitive Situation and Trends
– Market Positioning and Share Analysis (2020-2022E)
– Suppliers High-Performance Operational Base Distribution
– Analyse competitors, Profiles, Sales Area, Product Category
– Bioanalytical Services Cost Analysis
– Marketing Strategy Analysis
– Research Conclusions
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