Bioanalytical Testing Services Market

IQVIA, Inc. (US), Charles River (US) and WuXi AppTec (China) are the Prominent Players in the Bioanalytical Testing Services Market

The global bioanalytical testing services market is projected to reach USD 3.7 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 11.8% during the forecast period. Growth in this market is driven by the rising focus on the analytical testing of biologics and biosimilars, increasing preference for outsourcing analytical testing, growing R&D expenditure in the pharmaceutical and biopharmaceutical industries, and the rising adoption of the Quality by Design approach. However, the dearth of skilled professionals is a major factor that is expected to restrain the growth of this market in the coming years.

The prominent players operating in this market include Charles River (US), Medpace (US), WuXi AppTec (China), Eurofins Scientific (Luxembourg), IQVIA, Inc. (US), SGS SA (Switzerland), Laboratory Corporation of America Holdings (US), Intertek Group plc (UK), PRA Health Sciences (US), Syneos Health (US), ICON plc (Ireland), Frontage Labs (US), PPD, Inc. (US), PAREXEL International Corporation (US), Almac Group (UK), Celerion (US), Altasciences (US), BioAgilytix Labs (US), Lotus Labs Pvt. Ltd. (India), and LGS Limited (UK). These players adopted the strategies of partnerships, agreements, and acquisitions to expand their presence in the global bioanalytical testing services market.

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IQVIA, a leading CRO, has a wide geographical presence. The company’s strong position in the bioanalytical testing services market is primarily attributed to factors such as its strong technical and service capabilities, good client relationships, diversified service offerings, and its ability to expand the penetration of its offerings to a broad range of customers. The company has registered significant growth in the biopharmaceutical services industry, and has a presence in all major markets, including the US, Japan, Germany, France, Spain, Italy, Brazil, Russia, India, and China.

Charles River majorly emphasizes on providing flexible and tailored solutions through its comprehensive portfolio of drug discovery and early-stage development products and services. Additionally, it has extensive expertise in the discovery of clinical candidates and in the design, execution, and reporting of safety assessment studies for small- and large-molecule pharmaceuticals. Charles River recently acquired Citoxlab and MPI Research, which strengthened its position in the bioanalytical testing services market.

WuXi AppTec primarily provides laboratory and manufacturing outsourcing services to pharmaceutical, biopharmaceutical, and medical device companies. The company has a comprehensive discovery and development services portfolio. Additionally, it has a strong customer base in China, the US, Germany, Iceland, Israel, and Korea. To maintain its leading position and enhance its market share, the company is focusing on maintaining the quality of its services to deliver excellent results, and adapting quickly to transformational and innovative conditions with a strong commitment to breakthroughs.

Related Reports:

Bioanalytical Testing Services Market by Type (Cell-based Assays; Virology Testing; Method Development, Optimization, and Validation; Serology, Immunogenicity, and Neutralizing Antibodies; Biomarker Testing; Pharmacokinetic Testing), Application, End User - Global Forecasts to 2025

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Report Code
AST 7644
RI Published ON
5/12/2020
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