The Bioassay Services Market involves contract testing services for analyzing biochemical interactions, cellular activities, and compound screening. These services help pharmaceutical and biotechnology companies in various stages of drug discovery and development. The increasing R&D investment in the pharmaceutical industry has fostered demand for outsourcing non-core analytical testing services like bioassays. Bioassay services aid in evaluating drug candidates for their intended biological activity, pharmacology, toxicity, and safety profile before clinical trials and commercialization.
The Bioassay Services Market is estimated to be valued at US$ 340 Mn in 2024 and is expected to exhibit a CAGR of 30% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Bioassay Services Market are CCRM, Nexelis, Pacific BioLabs, PPD Laboratories, and WuXi Advanced Therapies. These industry leaders offer comprehensive bioassay services across various therapeutic areas. CCRM is a leading contract research organization specializing in cell and gene therapy research services. Nexelis provides broad range of bioanalytical and translational pharmacology services to support drug development.
The Bioassay Services Market provides significant opportunities for pharmaceutical companies to outsource non-core testing functions and focus on drug innovation. Growing development of advanced biologic drugs and cell and gene therapies will boost demand for specialized cell-based and immunogenicity bioassays. The outsourcing of bioassay testing enables biotech startups and small pharma firms to leverage industry-leading expertise and infrastructure.
Major players are expanding globally through acquisitions and partnerships to access new geographic markets and enhance their service portfolios. CCRM partnered with multiple global research institutes to foster cell and gene therapy research worldwide. Nexelis recently acquired Celerion's laboratory in China to add bioanalytical and DMPK capabilities in the Asia-Pacific region.
Market Drivers
Growing drug pipelines: Biopharmaceutical companies are actively developing novel biological drug candidates for oncology, immunology, neurology, and rare diseases. This fosters the demand for specialized bioassay services to evaluate new drug targets and mechanisms of action.
Stringent regulatory requirements: Regulatory agencies mandate comprehensive characterization and safety evaluation of biologics through diverse in vitro and in vivo assays before clinical testing. This drives the outsourcing of bioassays to specialized CROs.
Market Restraints
High capital investment requirements: Building state-of-the-art facilities for cell-based bioassay services demands substantial capital expenditures on infrastructure development and specialized equipment procurement. This poses significant entry barriers.
Technology complexities: Developing disease-relevant cell-based assays and 3D tissue models involves extensive research investments. Commercializing new complex bioassay technologies and methods is challenging.
Segment Analysis
The Bioassay Services Market can be segmented on the basis of application, type of molecules, end-user and geography. The application based segmentation includes distribution testing, raw material testing, stability testing and batch release testing. Among these distribution testing holds the largest share owing to its wide usage for ensuring safety and efficacy of biological and pharmaceutical products during transportation and storage. By type of molecules the market is bifurcated into vaccines, insulins, monoclonal antibodies, recombinant proteins, blood and blood products testing, and other molecules. The insulins segment dominates due to the presence of large pool of diabetes patient population. Under end-user segmentation, the market covers pharmaceutical & biotechnology companies, diagnostic laboratories and academic & research institutes. Pharmaceutical & biotechnology companies accounts for the maximum share due to outsourcing of testing services by them.
Global Analysis
Regionally, North America holds the major share in the Bioassay Services Market and is expected to maintain its dominance during the forecast period. This is attributed to presence of well-established CROs and strong biopharmaceutical industry in the region. Asia Pacific exhibits the fastest growth rate owing to government investments to develop healthcare infrastructure, increasing R&D expenditure by pharma companies and growing outsourcing of clinical trials to China and India. Some of the major players operating in the Bioassay Services Market include CCRM, Nexelis, Pacific BioLabs, PPD Laboratories, WuXi Advanced Therapies and others. These companies are focussed on expanding their service portfolio and global footprint through mergers & acquisitions and partnerships with local players.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
What Are The Key Data Covered In This Bioassay Services Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Bioassay Services Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Bioassay Services Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Bioassay Services Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Bioassay Services Market vendors
FAQ’s
Q.1 What are the main factors influencing the Bioassay Services Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Bioassay Services Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Bioassay Services Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it