Future Market Insights (FMI), a leading market intelligence and consulting firm, has recently released its comprehensive analysis of the Global Large Molecule Bioanalytical Testing Service Industry. According to the report, the current market value exceeds US$1.5 Billion and is projected to soar to US$4.7 Billion by 2033, registering an impressive Compound Annual Growth Rate (CAGR) of 12.1% from 2023 to 2033.
The Clinical Phase segment is identified as a major revenue generator, expected to witness a robust CAGR of 10.9% during the forecast period from 2023 to 2033.
The surge in demand for bioanalytical testing services can be attributed to the rising prevalence of HIV, infectious illnesses, and various disorders. Additionally, governmental initiatives to curb the spread of infectious diseases, including Corona and the Ebola virus, are anticipated to fuel further growth in the market.
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Throughout the projection period, increased research activities and the presence of a vast pipeline of peptides, biologics, and amino acid-based compounds are expected to move the market ahead. Bioanalysis of large molecules also involves the utilization of highly skilled professionals as well as analytical gear and infrastructure.
With a CAGR of 12.3% during the projected period, Large Molecule Bioanalytical Testing Service revenue is expected to grow at a significant pace in North America. Because of the rising frequency of numerous chronic diseases and the growing use of large-molecule medicines as an alternative to small molecules, the United States has the largest market share.
Global Large Molecule Bioanalytical Testing Services Industry Competitive Landscape
The key players operating in the Global Large Molecule Bioanalytical Testing Services Industry include Covance, IQVIA, Syneos Health, SGS SA, Toxikon, Intertek Group plc, Pace Analytical Services LLC, ICON Plc, Charles River Laboratories, and Thermo Fisher Scientific.
A few of the recent developments of key Global Large Molecule Bioanalytical Testing Services Industry providers are as follows:
- In November 2021, LabCorp announced the introduction of a new bioanalytical lab facility in Singapore. This laboratory is an expansion of its central laboratory services and will enable to the expansion of the capabilities of the biomedical ecosystem in Singapore.
- In February 2021, Nexelis acquired GSK’s Marburg, Germany-based vaccines clinical bioanalytical laboratory to expand its bioanalytical capabilities.
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Market Segments Covered in Global Large Molecule Bioanalytical Testing Services Industry Analysis
By Phase:
- Preclinical
- With Antibody
- Without Antibody
- Clinical
By Type:
- Pharmacokinetics
- ADA
- Others
By Test Type:
- ADME
- PK
- PD
- Bioavailability
- Bioequivalence
- Other Tests
By Therapeutic Area:
- Oncology
- Infectious Diseases
- Cardiology
- Neurology
- Others
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