The
Global Bioanalytical Testing Services Market is expected to exhibit a CAGR of
12.95% over the forecast period from 2018 to 2023, according to a new research
report from Market Research Future (MRFR). The report presents readers with a
clear picture of the global bioanalytical testing services market’s growth
potential over the forecast period based on a detailed study of the market’s
major historical growth drivers and restraints. The leading players operating
in the global bioanalytical testing services market and their successful
strategies are also assessed in detail in the report to provide readers with a
clear picture of the competitive landscape of the market.
Bioanalytical
testing services are used to detect and measure the presence of drugs and
related metabolites in the human body. The bioanalytical testing services
market comprises a major part of the biomedical research sector, as it plays a
crucial role in determining whether a drug can deliver its expected efficacy
and whether it is safe for human consumption. Thus, bioanalytical testing
services play a vital part in expediting the drug delivery process and make it
more convenient and easier for manufacturers to gather relevant results in the
shortest time. The increasing demand for advanced bioanalytical testing
services from the medical research sector is likely to be the major driver for
the market over the forecast period.
The
growing global medical research sector is likely to drive the global
bioanalytical testing services market over the forecast period. Due to the
growing prevalence of communicable as well as noncommunicable diseases, the
global medical research sector has been driven at a strong pace. This growth is
likely to result in steady growth of the global bioanalytical testing services
market over the forecast period, as bioanalytical testing services play a vital
role in medical research. The growing prevalence of cancer has become a major
concern for the healthcare sector and significant research efforts have been
dedicated towards the eradication of cancer in the last few years. The
increasing prevalence of communicable diseases is also likely to be a major
driver for the bioanalytical testing services market over the forecast period.
Competitive Analysis:
Leading
players in the global bioanalytical testing services market include Laboratory
Corporation of America Holdings, Covance Inc., Toxikon, inVentiv Health, Pace
Analytical Services LLC, Intertek Group plc, ICON Plc, SGS SA, Charles River
Laboratories Inc., Pharmaceutical Product Development, and WuXi AppTec.
Industry Updates:
In
January 2019, SGS expanded its Glasgow facility by adding more testing
capacity.
Segmentation:
The
global bioanalytical testing services market is segmented on the basis of test
type, molecule type, and region.
By
test type, the global bioanalytical testing services market is segmented into
pharmacokinetics (PK), pharmacodynamics (PD), bioavailability, bioequivalence,
and others.
By
molecule type, the bioanalytical testing services market is divided into small
and large molecules. The small molecules segment is sub-segmented into
proprietary and generics, while the large molecules segment is divided into
biomarkers, biosimilars, vaccines, and others.
Regional Analysis:
The
global bioanalytical testing services market is segmented into the Americas,
Europe, Asia Pacific, and the Middle East and Africa on the basis of region.
The Americas is likely to be the major regional segment of the global
bioanalytical testing services market over the forecast period due to the
strong presence of medical research facilities in developed North American
countries such as the U.S. and Canada. The strong presence of government
support to medical research in these countries has also helped advance the
cause of medical research and is likely to remain a major driver for the
bioanalytical testing services market in the region over the forecast period.
The growing prevalence of cancer and other noncommunicable chronic diseases in
North America is also a major driver for the bioanalytical testing services
market in the region. The U.S. is a global hotspot for medical research, with
several leading medicine and drug manufacturers having a strong presence in the
country and the government providing a solid research infrastructure with solid
scope for further development in the coming years.
Browse Complete 100 Pages Premium Research Report
Enabled with 30+ Respective Tables and Figures at https://www.marketresearchfuture.com/reports/bioanalytical-testing-services-market-6573
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact
Market Research Future
Office
No. 528, Amanora Chambers
Magarpatta
Road, Hadapsar,
Pune
– 411028
Maharashtra,
India
+1 646 845 9312
No comments:
Post a Comment