Bioanalytical Testing Services Market Size

The global bioanalytical testing services market is size was valued at USD 4.76 billion in 2024 and is anticipated to cross USD 14.36 billion by the end of 2037, registering more than 8.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of bioanalytical testing services is estimated at USD 5.1 billion. in the year 2022. To treat a wide range of disorders, the pharmaceutical and biotechnology industries are continually trying to produce novel treatments and cures. This raises the need for bioanalytical services since it necessitates extensive testing and analysis of biological materials. As of 2020, around 550 new medicines were found to be under development in the USA while nearly 50 novel drugs received approval from the Center for Drug Evaluation and Research (CDER).

The growth of the market is primarily ascribed to the escalating development of novel drugs and therapies, the rising outsourcing of R&D activities by pharmaceutical companies, and the rising number of innovations and new product developments. Many bioanalytical tests have seen major developments, allowing for a more precise and effective study of biological materials. As a result, test findings are more accurate and test costs are falling. Global bioanalytical testing services market trends such as the increasing number of clinical, pre-clinical, and laboratory testing services, advancement of biosimilars, and combination products are anticipated to influence the growth of the market positively over the forecast period. For instance, the annual rate of laboratory tests performed in the USA is estimated to be around 6 billion.