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Increasing investment in biotechnological research & drug development is a major factor fueling revenue growth of global bioanalytical testing services market

VANCOUVER, BC, CANADA, May 4, 2022 /EINPresswire.com/ -- Increasing investment in biotechnological research and drug development is a major factor fueling revenue growth of global bioanalytical testing services market

The Global Bioanalytical Testing Services Industry size is expected to reach USD 4.33 Billion in 2028 at a steady CAGR, according to latest analysis by Emergen Research. Increasing emphasis on analytical testing of biosimilars and biologics, growing demand for outsourcing analytical testing services, and rising research and development expenditure in biopharmaceutical and pharmaceutical sectors are some key factors driving market revenue growth.

Bioanalytical testing services involve quantitative analysis of compound and their metabolite in biological fluids, which includes blood, serum, urine, plasma, or tissue extracts. Bioanalytical program comprises several processes such as sample preparation, development of bioanalytical method, validation, ensuring quantitative outcome that demonstrate accuracy, selectivity, precision, and stability. Sample preparation is a process that includes cleaning up the test sample before starting analysis or concentrating the sample for improved detection.

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Leading companies profiled in the report are:
Charles River Laboratories
Medpace, Inc
Wuxi AppTec, IQVIA, Inc
SGS SA
Laboratory Corporation of America Holdings
Intertek Group plc
PRA Health Sciences
Syneos Health
Frontage Laboratories, Inc.
Others

Rising requirement of generic drug development, increasing investment and growing number of biotechnology companies, rising adoption of advanced technologies in bioanalytical testing services, increasing number of clinical trials conducted for oncology, and major prevalence of cancer are factors expected to drive revenue growth of the market going ahead.

Some Key Findings from the Report:
In February 2021, Eurofins Scientific acquired Beacon Discovery. This acquisition helped Eurofins to provide a complete drug discovery experience, knowledge, and support the development of new therapeutics.

Asia Pacific is expected to register the fastest revenue CAGR throughout the forecast period. Increasing investment in biotechnology and pharmaceutical research and development activities, rising requirement of biologic pipeline development, and growing adoption of advanced technologies in bioanalytical testing services are key factors propelling revenue growth of the market in this region.

Serology, immunogenicity, and neutralizing antibodies segment is expected to register a 12.0% revenue CAGR throughout the forecast period. This can be attributed to increasing application of serology, immunogenicity, and neutralizing antibodies in drug development procedures.
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For the purpose of this report, Emergen Research has segmented the global bioanalytical testing services market based on type, application, end-use, and region:

Type Outlook (Revenue, USD Billion; 2018–2028)
Cell-based Assays
Virology Testing
Method Development Optimization and Validation
Serology Immunogenicity and Neutralizing Antibodies
Pharmacokinetic Testing
Biomarker Testing
Others

Application Outlook (Revenue, USD Billion; 2018–2028)
Neurology
Oncology
Infectious Diseases
Cardiology
Gastroenterology
Others

End-Use Outlook (Revenue, USD Billion; 2018–2028)
Biopharmaceutical and Pharmaceutical Companies
Contract Development and Manufacturing Organizations
Contract Research Organizations

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Regional Outlook (Revenue: USD Billion; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
BENELUX
Italy
Spain
Switzerland
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

Key Reasons to Buy This Report:
The report presents a thorough examination of the Bioanalytical Testing Services market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.

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