Biopharmaceutical Analytical Testing Services Market to grow by USD 3.45 billion from 2022 to 2027; North America to account for 33% of market growth- Technavio

NEW YORK, Nov. 21, 2023 /PRNewswire/ -- The biopharmaceutical analytical testing services market is expected to grow by USD 3.45 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 12.61% during the forecast period, according to Technavio Research. The market has been segmented by service (bioanalytical, method development and validation, stability testing, and others), end-user (pharma, biotech companies, and CROs), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

North America is estimated to contribute 33% to the growth of the global market during the forecast period. The main players in the region, including Charles River and Catalent, are responsible for the growth of this market. These companies have a broad range of analytical testing services to cover the areas of drug discovery, development, and manufacturing. Hence, these factors are expected to drive market growth in the region during the forecast period.

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Company Profile:

Almac Group Ltd., Boston Analytical, Catalent Inc., Charles River Laboratories International Inc., Coriolis Pharma Research GmbH, Curia Inc., Element Materials Technology Group Ltd., Eurofins Scientific SE, ICON plc, Intertek Group Plc, Laboratory Corp. of America Holdings, Merck KGaA, Pace Analytical Services LLC, Parexel International Corp., SGS SA, Solvias AG, STERIS Plc, Thermo Fisher Scientific Inc., Vimta Labs Ltd., and West Pharmaceutical Services Inc.

Almac Group Ltd. - The company offers biopharmaceutical analytical testing services such as stability testing, raw material testing, and QC release testing.

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Biopharmaceutical Analytical Testing Services Market: Segmentation Analysis

• The market share growth by the bioanalytical segment will be significant during the forecast period. Factors like an increase in the use of biosimilars for a number of healthcare indications including diabetes and cancer are projected to contribute to this segment's growth.

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Biopharmaceutical Analytical Testing Services Market: Market Dynamics

Key Driver

• Increase in demand for mAbs
• Increase in the number of patent-expired drugs
• Increase in chronic diseases

The increase in demand for mAbs is a key factor driving market growth. mAbs are proteins that have been prepared in a pharmaceutical or biotechnology laboratory for attachment to the respective antigen epitopes within the body. The market for mAbs is increasing due to their use in immunotherapies that induce an immunological response towards the treatment of illness.

Major Trend

The rise in investment in R&D is a primary trend shaping the biopharmaceutical analytical testing services market.  Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information.

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What are the key data covered in this biopharmaceutical analytical testing services market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the biopharmaceutical analytical testing services market between 2022 and 2027.
• Precise estimation of the biopharmaceutical analytical testing services market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the biopharmaceutical analytical testing services market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of biopharmaceutical analytical testing services market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Service

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com

SOURCE Technavio