The value of the bioanalytical testing services market is USD 3,456.6 million in 2023, and it will power at a rate of 15.9% by the end of this decade, to touch USD 9,652.6 million by 2030.
This is credited to the well-known life sciences industry using bioanalytical testing, the existence of main service providers, the increased count of continuing clinical trials, high R&D spending, and the development of biosimilar and generic markets.
The small molecule category held the largest share of 50%, in 2023, and will maintain its dominance in the years to come. This is for the reason that small molecules are traditional pharma, and naturally they have a low molecular weight of less than 900 Daltons and adjust a biological procedure.
Furthermore, numerous outsourcing companies are offering studies on numerous small molecules for example pharmacodynamic studies, pharmacokinetic studies, and assays of biomarkers.
Based on test type, the bioavailability category had the largest share, of 40%, in 2023, and it will also be like this in the years to come as well. This is because of the high requirement for these services in generic molecule expansion.
North America bioanalytical testing services market was the leader of the pack of about 45%, in 2023, and the industry will experience a robust rate in the years to come.
This is because of the presence of numerous patients with chronic ailments, the increase in the acceptance of large molecule therapeutics and peptides, substantial growth in the pharma and biotech industries, and the existence of key service providers for the regional industry.
It is because of the growth in the count of ongoing clinical trials all over the world, the demand for bioanalytical testing services will continue to grow in the years to come as well.
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