Dublin, Nov. 30, 2021 (GLOBE NEWSWIRE) -- The "Global Large Molecule Bioanalytical Technologies Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global large molecule bioanalytical technologies market size is expected to reach USD 13.9 billion by 2028 and is estimated to expand at a CAGR of 13.5% from 2021 to 2028
The demand for bioanalytical testing services has significantly increased over the past few years, thereby positively impacting the growth of the market.
This is primarily due to the growing R&D activities in the biopharmaceutical industry, leading to notable investments in the space. Also, the ongoing pandemic of COVID-19 has resulted in the expansion of manufacturing and R&D capabilities of key stakeholders leading to increased demand for bioanalytical testing services. The use of advanced technologies in vaccine and cell gene therapy development has led to significant growth of this space.
Advancements in instrumentation have created lucrative opportunities for contract manufacturers. Over the past several years, biopharmaceutical manufacturers are outsourcing at least some part of their biomanufacturing activities.
Analytical testing is one of the most outsourced activities as it requires highly specialized personnel and equipment to conduct assays. These factors are anticipated to play a vital role in shaping market growth.
Large Molecule Bioanalytical Technologies Market Report Highlights
The product segment accounted for the largest revenue share in 2020
Biopharmaceutical products require various instruments for characterization, identification, purity, and potency testing
Availability of a wide range of products for the aforementioned assay applications is the key factor contributing to segment growth
Mass spectrometry captured the maximum revenue share in 2020 due to the diversification of products as well as their frequent usage
This technology has been conventionally used in the development of protein pharmaceuticals, for instance, in the analysis of confirmations of amino acids in proteins
Furthermore, quantitative PCR (qPCR) is widely adopted in the detection of viral contaminants during the manufacture of biopharmaceuticals
Thus, with the growing demand for viral vectors, this technology is anticipated to witness the fastest growth over the forecast period
Moreover, the presence of a wide array of products in spectrometry is one of the key industry factors driving investment in the segment
Biologics accounted for the major revenue share in 2020 owing to the ever-expanding R&D activity programs in the segment
Besides, the presence of a stringent regulatory framework for advanced therapies has increased the demand for bioanalytical testing services
The COVID-19 pandemic has accelerated the development of genetic vaccines
This increases the utility of analytical tools for assessing the safety and stability of large molecules, thereby driving the segment
North America dominated the market in 2020 owing to the presence of strong research as well as a commercial base for biopharmaceutical manufacturing
Moreover, the U.S. is the largest biopharmaceutical market that has positively influenced the adoption and usage of large molecule bioanalytical technologies in the region
In the Asia Pacific, the market is estimated to register the fastest CAGR with emerging markets such as China and Japan at the forefront
Collaborations between domestic and global players for expansion of biomanufacturing capabilities are supplementing the growth of the market in the region
Key companies are focusing on new product launches to sustain their position in the market
Market driver Analysis
Technological advancements in life science tools and analytical instruments
Rising collaboration between operating stakeholders
Rising advancements, automation, and expansion in laboratory facilities
Market Restraint Analysis
Timeline, speed & cost-related challenges
Complicated bioanalytical assays due to complex nature of large molecules
Challenges associated with sample preparation
Market Opportunity Analysis
Vaccine development against SARS-CoV-2 infection
Commercial success of biopharmaceuticals and consequent increase in demand for biopharmaceuticals
Notable growth of biologics & biosimilars
Market threat Analysis
Dominance of small molecule
COVID-19 Impact analysis
Key developments & activities
Penetration & Growth Prospect Mapping for Therapeutic Applications, 2020
COVID-19 Impact Analysis
Technology Business Analysis
ddPCR, qPCR, RT-PCR
Laser-induced breakdown spectroscopy
Light scattering (MALS, DLS) & static light scattering
Intertek Group plc.
Wyatt Technology Corporation
Charles River Laboratories International, Inc.
Laboratory Corporation of America Holdings
DH Tech. Dev. Pte. Ltd. (SCIEX)
F. Hoffmann-La Roche Ltd
Bio-Rad Laboratories, Inc.
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