The global bioanalytical testing services market size is expected to reach USD 6.34 billion by 2028 according to a new study by Polaris Market Research. The report “Bioanalytical Testing Services Market Share, Size, Trends, Industry Analysis Report, By Molecule Type (Small Molecule, Large Molecule); By Test Type; By Workflow; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Bioanalytical testing is the most crucial process involved in the process of drug discovery and development. Bioanalytical methods are employed in pharmacokinetics, bioequivalence, toxicology, pharmacology, and bioavailability studies in humans or animals for the quantitative analysis of drugs in biological samples such as plasma, serum, urine, or other biological systems.
Now, pharmacokinetic characterization of a novel chemical drug candidate is conducted from the initial process of drug discovery to the advanced stages of drug development. ADME/PK screening is used to study metabolism and absorption, and the testing is initially carried out in in-vitro systems. Still, however, in-vivo studies are carried out in later stages of pre-clinical development for definitive assessment of overall drug disposition.
In previous decades ADME/PK studies were carried out at later stages of clinical development. Hence, many new chemical entities failed at later development stages due to shortcomings in metabolism and PK. In-vitro approaches in ADME/PK at an earlier stage in the drug development process will minimize the failure of a drug candidate at later stages.
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The development of innovative drugs in the market, the emergence of biosimilars, and increasing numbers of CROs across the globe are the primary driving force behind the growth of the global testing services market. Companies are also raising funds and going for acquisition and collaboration to develop and commercialize new bioanalytical platforms.
In January 2021, Adeptrix Corp raised Series A investment to accelerate its proprietary BAMS platform technology commercialization. The company has recently entered into many research partnerships to develop rapid and accurate COVID-19 diagnostics based on its Bead Assisted Mass Spectrometry.
During the same time, Nexelis acquired a GCLP-certified clinical bioanalytical laboratory owned by GSK Germany. The certified clinical bioanalytical laboratory has 80 scientists and analysts. Through a 5-year collaboration agreement, the team of Nexelis will now assist in the development of future vaccine candidates of GSK.
COVID-19 pandemic has further accelerated the growth of the global testing services market during the forecast period. Services companies are investing in bioanalytical platforms to develop new COVID-19 diagnostic testing and develop new drugs to combat the deadly pandemic that is wreaking havoc across the globe.
Market participants such as PPD Inc., Covance Inc., ICON plc, Charles River Laboratories International, LabCorp, SGS SA, inVentiv Health, Pace Analytical Services, LLC, and Intertek group are some of the key players operating in the global services market.
Polaris Market Research has segmented the bioanalytical testing services market report on the basis of molecule type, workflow, test type, and region
Bioanalytical Testing Services, Molecule Type Outlook (Revenue - USD Million, 2016 – 2028)
Bioanalytical Testing Services, Test Type Outlook (Revenue - USD Million, 2016 – 2028)
Bioanalytical Testing Services, Workflow Outlook (Revenue - USD Million, 2016 – 2028)
Bioanalytical Testing Services, Regional Outlook (Revenue - USD Million, 2017 – 2028)