A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global bioanalytical testing services market was worth USD 2.7 billion in 2020 and is further projected to reach USD 6.1 billion by 2027, at a CAGR of 12.1% during the forecast period (2021-2027). Increasing awareness among the people regarding the benefits of bioanalytical testing services is driving the market growth. Additionally, the efficiency offered by outsourcing lab services as compared to conducting an in-house study is encouraging the outsourcing of such services, which is likely to boost the demand over the forecast period. Also, innovation or new molecule development is propelling the demand of the bioanalytical testing market.

Global Bioanalytical Testing services market: By End-User


Based on end-user, the global bioanalytical testing services market is grouped into pharmaceutical and biopharmaceutical companies, contract development and manufacturing organizations, and contract research organizations.

Global Bioanalytical Testing Services Market: By Application

Based on application, the global bioanalytical testing services market is categorized into oncology, neurology, infectious diseases, gastroenterology, cardiology, and other applications. Oncology caters to the largest share in the application segment in this market.

Global Bioanalytical Testing Services Market: By Molecule

Based on molecule size, the global bioanalytical testing services market is fragmented into small molecules and large molecules.

Increased Number of Outsourcing Laboratories Service

Outsourcing lab projects provide several benefits such as financial and performance benefits, quality control, research, and improved product development services. Additionally, it leads to the commercialization of labs, which in turn benefits laboratory staff by helping them gain global career opportunities besides driving the growth of global bioanalytical testing services. Also, outsourcing laboratory services gives more time to public and government organizations to focus on other business aspects. Furthermore, these laboratory services are effective in providing more precise outcomes of the trials which further drive the overall global bioanalytical testing service market.

Rising Focus on the Analytical Testing of Biosimilars

According to a study published in 2017, there were 6·8 million cases of IBD globally. The age-standardized prevalence rate increased from 79·5 (75·9–83·5) per 100,000 population in 1990 to 84·3 (79·2–89·9) per 100 000 population in 2017. The main benefit of using biosimilar for patients with inflammatory bowel disease (IBD) is reduced drug acquisition costs. Biosimilars aren't generic drugs; they are almost similar to the original biologic agents—but, like generics, they're less expensive than the originals. Biosimilars are less costly than originator biologic agents primarily because biosimilars do not have to undergo the intensive clinical development process associated with the approval of an originator.

Global Bioanalytical Testing Services Market: Regional Insights

Geographically, the global bioanalytical testing services market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. The Asia-Pacific is likely to be the fastest-growing region over the forecast period owing to the increase in the number of a large pool of patients, especially in India and China. According to Asian Diabetic Initiative, 60% of diabetics in the world live in Asia. 113.9 million adults have diabetes in China which is 11.6% of the adult population. Also, 65.1 million adults in India have diabetes.

Some of the key players in the Global Bioanalytical Testing service market are Charles River Laboratories, Medpace, Wuxi Apptec, Eurofins Scientific, Iqvia Inc., Sgs Sa, Laboratory Corporation of America Holdings, Intertek Group Plc, Pra Health Sciences, Syneos Health, Icon Plc, Frontage Labs, and other prominent players. In order to improve their production capability, product portfolio, and provide competitive differentiation, companies are increasingly participating in acquisitions, alliances, and mergers.