CHICAGO, May 13, 2020 /PRNewswire/ -- According to the new market research report "Bioanalytical Testing Services Market by Type (Cell-based Assays; Virology Testing; Method Development, Optimization, and Validation; Serology, Immunogenicity, and Neutralizing Antibodies; Biomarker Testing; Pharmacokinetic Testing), Application, End User - Global Forecasts to 2025", published by MarketsandMarkets, the global Bioanalytical Testing Services Market is valued at an estimated USD 2.1 billion in 2020 and is projected to reach USD 3.7 billion by 2025, at a CAGR of 11.8% during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=12254971
The growth in this market is driven by factors such as the increasing preference for outsourcing analytical testing, rising focus on the analytical testing of biologics and biosimilars, growing R&D expenditure in the pharmaceutical and biopharmaceutical industries, and the rising adoption of the Quality by Design approach. However, the dearth of skilled professionals and the pricing pressure faced by major players are the major factors that are expected to restrain the growth of this market during the forecast period.
The oncology applications segment accounted for the largest share of the market, by application, in 2019
Based on the application area, the bioanalytical testing services market is broadly categorized into oncology, neurology, infectious diseases, gastroenterology, cardiology, and other application areas. Oncology is the largest application segment in this market, primarily due to the increasing number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide.
Browse in-depth TOC on "Bioanalytical Testing Services Market"
135 - Tables
49 - Figures
203 - Pages
The cell-based assays segment accounted for the largest market share in 2019
Based on the type of service, the bioanalytical testing services market is segmented into cell-based assays; virology testing; method development optimization and validation; serology, immunogenicity, and neutralizing antibodies; biomarker testing; pharmacokinetic testing; and other services (biologics characterization, extractable & leachable testing, and stability testing). The cell-based assays segment accounted for the largest share of the bioanalytical testing services market in 2019. The large share of this segment can be attributed to the high and growing utilization of cell-based assays in developing newer drugs as a result of the increasing prevalence of chronic diseases.
North America was the largest regional market for bioanalytical testing services in 2019
The global bioanalytical testing services market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the market. The growth in the North American market can be attributed to the increasing drug development activities in the pharmaceutical and biotechnology industries and the rising prevalence of chronic and infectious diseases.
Get 10% Customization on this Research Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=12254971
The prominent players operating in the bioanalytical testing services market include Charles River (US), Medpace (US), WuXi AppTec (China), Eurofins Scientific (Luxembourg), IQVIA, Inc. (US), SGS SA (Switzerland), Laboratory Corporation of America Holdings (US), Intertek Group plc (UK), PRA Health Sciences (US), Syneos Health (US), ICON plc (Ireland), Frontage Labs (US), PPD, Inc. (US), PAREXEL International Corporation (US), Almac Group (UK), Celerion (US), Altasciences (US), BioAgilytix Labs (US), Lotus Labs Pvt. Ltd. (India), and LGS Limited (UK).
Get Special Pricing on Bundle Reports:
https://www.marketsandmarkets.com/RequestBundleReport.asp?id=12254971
Browse Related Reports:
Drug Discovery Services Market by Process (Target Selection, Validation, Lead Optimization), Type (Medicinal Chemistry, DMPK), Drug Type (Biologics, Small Molecules), Therapeutic (Oncology, Neurology), Company (Tier 1, 2, 3) - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/drug-discovery-services-market-138732129.html
Healthcare Analytical Testing Services Market by Type (Method Development & Validation, Cell-Based Assays, Stability Testing, Heavy Metal Testing, Image Analysis, Virology Testing) & End user (Pharmaceuticals, Medical Devices) - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/healthcare-analytical-testing-services-market-108923833.html
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/bioanalytical-testing-services-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/bioanalytical-testing-services.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
