The global bioanalytical testing services market is anticipated to grow at a CAGR of 10.6% during the forecast period (2022-2028). The surge in the demand for new drugs and growing competition among pharmaceutical companies have significantly increased the demand for bioanalytical testing services. The companies have been increasingly using the advanced technology required to support challenging biomarkers, immunogenicity, pharmacokinetic (PK), and cell-based assay requirements. As the complexity of drug types from small molecules to biologics and gene therapy has evolved, the demand for technology in monitoring the drug levels in the body has also significantly increased. Technology, especially Machine Learning (ML) and Artificial Intelligence (AI), has taken over many manual operations in life sciences and supported avoiding human errors thereby saving the turnaround time (TAT) of the reports. AI allows identifying and characterizing special tissue and cell structures and reports quickly about sensitive biomarkers to prescribe accurate medicinal procedures. AI cover several diagnostic tasks in the lab and excels at the results which otherwise can be cumbersome.
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For instance, in April 2022, Charles River Laboratories Inc. and Valo Health, Inc. launched Logica, an artificial intelligence (AI) powered drug solution that directly translates clients’ biological insights into optimized preclinical assets. Logica uses Valo’s AI-powered Opal Computational Platform and Charles River’s leading preclinical expertise to function. In June 2018, WuXi AppTec, a China-based pharmaceutical technology company, partnered with artificial intelligence (AI) specialist Insilico Medicine to integrate Insilico’s AI technology with WuXi’s laboratory infrastructure.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Bioanalytical Testing Services Market Report by Segment
By Molecule
- Large Molecule
- Small Molecule
By Test
- Pharmacokinetic Test
- Pharmacodynamic Test
- Bioequivalence Test
- Bioavailability Test
- ADME Test
By Application
- Oncology
- Neurology
- Infectious Diseases
- Gastroenterology
- Cardiology
- Others
By End-User
- Pharmaceutical and Biopharmaceutical Companies
- Contract Development and Manufacturing Organizations
- Contract Research Organizations
- Others
Global Bioanalytical Testing Services Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global bioanalytical testing services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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