Acquisition of Disruptive Technologies will be the Key to Driving Growth
As the pharma market recovers from the debilitating impact of COVID-19 on the drug discovery and development pipelines, there is an increasing requirement for outsourcing services in the form of contract research organizations (CROs) and contract development & manufacturing organizations (CDMOs), which is likely to drive the already strong drug development activities. Bioanalytical testing is one of the core aspects of drug development. The testing modules include biomarker testing, immunogenicity testing, toxicology, pharmacokinetics (PK), and pharmacodynamics (PD). These modules essentially cover the entire value chain of drug development. Service providers adopt integrated systems and technologies, such as robotic automation, laboratory information management systems (LIMS), advanced mass spectrometry, and bioassays, to facilitate sensitivity and accuracy in the analysis of samples. With the advent of innovative biologics and biosimilars, including novel mRNA therapies, there is a constant requirement for bioanalytical testing services, which continues to provide opportunities to service providers such as full-service CROs, central laboratory vendors, and laboratory research CROs and CDMOs across the globe. In light of growing innovation, there is a strong reliance on fit-for-purpose drug testing and quality-by-design methodologies, which ensure a step-by-step drug development approach, thus increasing success rates and providing pharma/biotech sponsors with a crucial competitive advantage.
This report on global bioanalytical testing services identifies some of the leading growth opportunity areas in terms of customized bioassay and biomarker testing services, highlighting the growing trend of CRO subcontracting to specifically cater to the specialized drug development and accuracy needs. In addition, the market is witnessing a simultaneous adoption of artificial intelligence (AI) and cloud-based LIMS solutions, which work hand in hand with the drug development activities for petabyte-scale data management (genomics/proteomics data sets).
KEY ISSUES ADDRESSED
- How is the bioanalytical testing services market expected to grow through the forecast period?
- What are key trends driving and restricting the outsourcing of bioanalytical testing services?
- What are the regional trends shaping bioanalytical testing services? Which are the high-growth regions?
- What are the key strategies that global stakeholders are adopting to better serve customers while ensuring growth?
- What are the notable investment trends that are helping market players align themselves to industry needs?
- What are the key growth opportunities for CROs, sponsors, and technology participants in the ecosystem?
