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Bioanalytical Testing Services Market Size
- Report ID: GMI8443
- Published Date: Mar 2024
- Report Format: PDF
Bioanalytical Testing Services Market Size
Bioanalytical Testing Services Market was valued at USD 3.8 billion in 2023 and is set to achieve over 8.6% CAGR from 2024 to 2032.
The growth of this market can be attributed to factors such as increasing volume of ongoing research activities & clinical trials and development of complex therapeutic modalities, such as gene therapies as well as biologics. Also, increased outsourcing laboratory testing services and growing development and approval of biopharmaceutical are expected to fuel the market growth. Also, outsourcing these services enable companies to access testing facilities in different geographical regions. This globalization of testing capabilities allows companies to expand their market reach, establish strategic partnerships, and leverage regional expertise and resources to support drug development activities in diverse markets, thereby augmenting the industry growth.
Bioanalytical testing services refer to a range of laboratory services that involve the analysis of biological samples such as blood, urine, tissue, etc. to quantify the concentration of drugs, metabolites, biomarkers, and other analytes in biological matrices. These services are commonly used in the pharmaceutical and biotechnology industries for various purposes, including drug development, pharmacokinetic studies, bioequivalence assessments, and in overall clinical trials.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Bioanalytical Testing Services Market Size in 2023: | USD 3.8 Billion |
| Forecast Period: | 2018 – 2023 |
| Forecast Period 2018 – 2023 CAGR: | 8.6% |
| 2018 – 2023 Value Projection: | USD 8.1 Billion |
| Historical Data for: | 2024 – 2032 |
| No. of Pages: | 195 |
| Tables, Charts & Figures: | 266 |
| Segments covered: | Molecule Type, Test Type, Application, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Bioanalytical Testing Services Market Scope
