US Bioanalytical Testing Services Market Industry Analysis, Size, Share, Growth, Trends, Opportunity and Forecast 2021 – 2027
Pune, Maharashtra, India, February 10 2021 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Bioanalytical Testing Services Market is valued at USD 2.90 Billion in 2018 and expected to reach USD 5.61 Billion by 2025 with a CAGR of 9.87% over the forecast period.
The rise in demand for bioanalytical services, large number of ongoing clinical trials, huge investment by many of the major pharmaceutical companies is one of the primary factors driving growth of the US bioanalytical testing services market.
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Bioanalytical testing is the analytical method used for the analysis of biotechnological or biological products. Bioanalytical testing services supports development of drugs in various geographies and for various different therapeutic areas. Bioanalytical testing enables quantitative determination of drugs in biological substances such as blood, serum, plasma, or urine. All these tests are conducted in pathological labs or diagnostic centers and in research laboratories. It is conducted when a drug is being developed, and helps in the commercialization of the drug sells. There are various types of test available such as pharmacokinetic test, pharmacodynamics test, bioequivalence test, bioavailability test and other test. Among the entire bioavailability and bioequivalence test are expected to gain significant growth of the US bioanalytical testing services market due to increased demand for bioanalytical testing services in generic drug development. Pharmaceutical and biopharmaceutical companies are the leading end-user in bioanalytical testing services.
Bioanalytical Testing Services Market report is segmented on the basis test type, application, end-user and by regional & country level. Based upon test type, US bioanalytical testing services market is segmented into absorption distribution metabolism excretion (ADME), pharmacokinetics (PK), pharmacodynamics (PD), bioavailability, bioequivalence and others. Based upon application, US bioanalytical testing services market is segmented into oncology, neurology, infectious diseases, gastroenterology, cardiology and other. Based upon end-user, US bioanalytical testing services market is segmented into pharmaceutical and biopharmaceutical companies, contract development and manufacturing organizations and contract research organizations.
The regions covered in this Bioanalytical Testing Services Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of bioanalytical testing services is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Bioanalytical Testing Services Vendors
Covance Inc.
LabCorp
inVentiv Health
Toxikon, Inc.
Charles River Laboratories International, Inc.
PPD, ICON plc
Pace Analytical Services, LLC.
Sartorius Stedim BioOutsource Limited.
SGS SA
Frontage Holdings Corporation
Fios Genomics
Intertek group.
Particle Sciences
Lotus Labs Pvt. Ltd.
Others.
Bioanalytical Testing Services Market Dynamics –
Rise in demand for bioanalyctical services, large number of ongoing clinical trials, huge investment by many of the major pharmaceutical companies are key factors driving growth of the US bioanalytical testing services market. Moreover, rising spending on pharmaceutical and launch of high number of novel drugs are an impelling factor for new drug development, which impacts positively the growth of the bioanalytical testing services market in forcaste period. According to National Conference of State Legislatures, as of 2015, about 36 % of total pharmaceutical spending in the commercial market was devoted to specialty medications. According to The Centers for Medicare & Medicaid Services (CMS), projects continued increases in drug spending of 6% or more annually from 2015 to 2022, as both drug prices and utilization increase. Moreover, Lack of skilled professionals is the major restrains of the US bioanalytical testing services market. However, technological advancements and developed healthcare infrastructure and advance analytical instruments for testing may generate new opportunities in forecast period. The US pharmaceutical market will reach nearly USD 1,430 billion by 2020, According to International Federation of Pharmaceutical Manufacturers & Associations.
Bioanalytical Testing Services Market Regional Analysis –
North America is expected to dominate region with highest shares due to heavy investments in R&D initiatives, to rise in demand for bioanalyctical services, large number of ongoing clinical trials, presence of highly reliable, complex, and high-end pharmaceuticals, technological expansions and integration of pioneering technologies,occurrence of lifestyle related diseases, major players present in the region. According to National Health Expenditures Report, U.S. health care spending increased 3.9 percent to reach USD 3.5 trillion or USD 10,739 per person in 2017. Gross domestic product (GDP) spending related to health care was 17.9 percent in 2017. According to International Federation of Pharmaceutical Manufacturers & Associations, The United States share of the US market will increase from 40.3% to 41% in2015 to 2020. As per The International Federation of Pharmaceutical Manufacturers & Associations, the research-based pharmaceutical industry currently spends over USD 149.8 billion on pharmaceutical R&D per year. Moreover, due to fast development of new pharmaceutical industries, major merges and acquisitions among pharmacies, are some major factors increasing the growth of bioanalytical Testing Services market during the forecast period. For instance, Laboratory Corporation of America (LabCorp) acquired Covance. This transaction is expected to expand the biopharmaceutical reach of LabCorp USly, thus promoting higher profits and number of projects.
Asia Pacific market is witnessing strong growth due large population rate, growing prevalence of chronic diseases, rising adoption of advanced technologies. As per World Health Organisation, Chronic disease risks and deaths are increasing rapidly, especially in low and middle income countries. According to WHO, almost 23.6 million people will die from CVDs, mainly from heart disease and stroke by 2030. Also, the growth of biopharmaceutical industry in China and India is expected to grow bioanalytical testing services market over the forecast period.
Key Benefits for Bioanalytical Testing Services Market Reports –
US Market report covers in depth historical and forecast analysis.
US Market research report provides detail information about Market Introduction, Market Summary, US market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
US Market report helps to identify opportunities in market place.
US Market report covers extensive analysis of emerging trends and competitive landscape.
Bioanalytical Testing Services Market Segmentation –
By Test Type:- Absorption Distribution Metabolism Excretion (ADME) (In-Vivo, In-Vitro), Pharmacokinetics (PK), Pharmacodynamics (PD), Bioavailability, Bioequivalence, Others
By Application:- Oncology, Neurology, Infectious Diseases, Gastroenterology, Cardiology, Other
By End-User:- Pharmaceutical and Biopharmaceutical Companies, Contract Development and Manufacturing Organizations, Contract Research Organizations
Regional & Country Analysis
North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – US Bioanalytical Testing Services Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. US Bioanalytical Testing Services Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Bioanalytical Testing Services Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter – US Bioanalytical Testing Services Market Overview: Quantitative Analysis
4. Chapter – US Bioanalytical Testing Services Market Analysis: Segmentation By Type
5. Chapter – US Bioanalytical Testing Services Market Analysis: Segmentation By Application
Continued….
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