19 December 2019
Visiongain’s new report the Bioanalytical Testing Services Market Report 2019-2029: Forecasts by Molecule Type (Small, Large), by Test Type (ADME, PK, PD, BA, BE, Others), plus analysis of leading companies indicates that the global Bioanalytical Testing Services market will attain $5 billion revenue by 2029.
Global Bioanalytical Testing Services market is expected to grow on account of growing demand for biologic medicines, increasing healthcare costs, expanding biopharmaceutical pipeline, growing biopharmaceutical approvals, growing numbers of bio-similar clinical trials and rising government investments in research & development. The market is expected to grow at a healthy CAGR of 11.3% over the projected period. However, shortage of trained experts and pricing pressure faced by the industry is anticipated to restrain the growth of global bioanalytical testing market.
Asia Pacific region is one of the largest market for pharmaceutical and biotech products. Majority of top players in the industry outsource the drug development and innovation process to India, Japan and China due to low labour and outsourcing costs. In 2019, Asia Pacific accounted for more than 25% of overall analytical testing services demand and the presence of numerous CRO’s, pharma and biotech industries in China, Japanand India is expected to strengthen bioanalytical testing services market concentration over the projected period.
Rising adoption of bioanalytical validation of biotechnological or biological productsis expected to increase consumption of bioanalytical testing services in pharma and biotech industry. In addition, with the advent of biosimilars, which represent a huge opportunity for healthcare systems to address increasing drug costs, demand for bioanalytical testing services over the forecast period is expected to continue.
In 2019, North AmericaBioanalytical Testing Servicesmarket accounted for more than 25% of overall market share. Strong economic growth followed by increasing sales of drugs in India, Japan, China, South Korea, Singapore, and Brazil is expected to increase Bioanalytical testing services market penetration over the forecast period. Asia Pacific accounted for more than 25% of overall analytical testing services market in 2018. Rising investments from many developed economies coupled with various amendments in clinical trials evaluation standards will offer lucrative growth for Bioanalytical testing services market in coming years.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to email@example.com or call her on +44 (0) 207 336 6100.
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
With the growing burden of rare diseases around the world, there has been a rise and advancement in the therapy development of these types of diseases. While the fact remains that over 90% of these diseases lack approval for treatment and the total number of terminal rare diseases to receive the first treatment every year remains low.
01 July 2020
The market growth is attributed to the growing adoption of big data and AI in data management and monitoring of clinical information in health care.
01 July 2020
Various research studies are currently underway, which are expected to create a competitive advantage for manufacturers to develop new and innovative and advanced software that is expected to provide a variety of additional opportunities in the perinatal clinical software market.
01 July 2020
Growing investment in target diagnosis of cardiovascular disorders, TB and diabetes drives demand for clinical laboratory testing. Clinical lab tests help in diagnosing mellitus diabetes. According to the International Diabetes Federation article published in 2019, some 463 million adults were diabetic, and it is estimated that it will reach 700 million worldwide by 2045.