Large Molecule Bioanalytical Testing Service Market Growth & Trends
The global large molecule bioanalytical testing service market size is expected to reach USD 2.6 billion by 2027, expanding at a CAGR of 9.1%, according to a new report by Grand View Research, Inc. The major factor attributing to market growth is the increased application of bioanalytical testing in clinical trials of biomarkers, large molecules, and others.
Rising prevalence of HIV, infectious disease, and others has led to increasing demand for bioanalytical testing services globally. Moreover, increasing government initiatives to control the outbreak of various infectious diseases such as Corona and Ebola virus is anticipated to offer more opportunities for the market. Hence, the market is expected to grow over the assessment period.
The market is expected to witness lucrative growth during the forecast period due to increased research activities and the presence of a huge pipeline of peptides, biologics, and amino acids based molecules. Additionally, bioanalysis of large molecules requires skilled professionals with innovative analytical instruments and infrastructure. These services are readily offered by bioanalytical testing service providers and are likely to propel the growth of the market during the assessment period.
North America accounted for the highest share in 2019. The U.S. holds the highest market share due to the increasing prevalence of various chronic diseases and the growing adoption of large molecule therapeutics as an alternative for small molecules.
For example, according to International Diabetes Federation Report 2019, around 49.0 million geriatric population in the U.S. has diabetes and this has led to increasing requests for bioanalysis of the novel (large molecule compounds) peptide therapeutics such as glucagon-like peptide 1(GLP-1). Due to this reason, the market is expected to show growth over the forecast period. In addition, the presence of major players in the region contributed to market growth.
Request a free sample copy or view report summary:
Large Molecule Bioanalytical Testing Service Market Report
Large Molecule Bioanalytical Testing Service Market Report Highlights
- By type, the clinical segment held the largest market share in 2019 owing to increasing demand for clinical trials due to the rising prevalence of various infectious diseases
- Bioavailability held the largest market share of 20.9% in 2019 owing to increasing adoption in generic drug manufacturing
- The oncology segment held the largest revenue share due to the increasing prevalence of cancer globally
- The U.S. is expected to witness the fastest growth over the forecast period owing to the growing adoption of advanced therapeutic techniques in the country.
