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Bioanalytical Testing Services Market Size and Share 2022 Global Business Review, Key Findings, Company Profiles, Growth Strategy, Developing Technologies, Trends and Forecast by Regions

Kenneth Research has recently added a report titled Bioanalytical Testing Services Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Bioanalytical Testing Services Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Bioanalytical Testing Services Market is valued approximately USD 1.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.8 % over the forecast period 2020-2027. Bioanalytical testing enables quantitative analysis of drugs in biological substances such as blood, plasma, serum, or urine. Bioanalytical tests are conducted when a drug is being developed, and aids in the commercialization of the drug in pathological labs or diagnostic centers, and in research laboratories. The global Bioanalytical Testing Services is being highly demanded for the analysis of coronavirus vaccine and drugs to fight against covid-19 crisis. The rising focus on the analytical testing of biologics and biosimilars, increasing preference for outsourcing analytical testing, growing R&D expenditure in the pharmaceutical and biopharmaceutical industry and rising adoption of the quality by design approach are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: in August 2017, Eurofins Scientific launched scientific consulting services for assisting pharmaceutical and biotech sponsors in large molecule bioanalytical requirements. Whereas, dearth of skilled professionals and pricing pressure faced by major players is the major factor restraining the growth of global Bioanalytical Testing Services market during the forecast period.

The regional analysis of global Bioanalytical Testing Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the presence of a large patient population (especially in China and India) and increasing investments in R&D. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Charles River
Medpace
Wuxi AppTec
Eurofins Scientific
Iqvia Inc.
SGS SA
Laboratory Corporation of America Holdings
Intertek Group Plc
PRA Health Sciences
Syneos Health

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

by Type:
Cell-based Assays
Virology Testing
Method Development Optimization and Validation
Serology, Immunogenicity, and Neutralizing Antibodies
Biomarker Testing
Pharmacokinetic Testing
Other Services

by Application:
Oncology
Neurology
Infectious Diseases
Gastroenterology
Cardiology
Other Applications

By End-User:
Pharmaceutical and Biopharmaceutical Companies
Contract Development and Manufacturing Organizations
Contract Research Organizations

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Bioanalytical Testing Services Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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