PUBLISHER: Grand View Research | PRODUCT CODE: 1587505
PUBLISHER: Grand View Research | PRODUCT CODE: 1587505
The global large molecule bioanalytical testing services market size is expected to reach USD 3.70 billion by 2030, registering a CAGR of 9.63% from 2025 to 2030, according to a new report by Grand View Research, Inc. The increased use of bioanalytical testing in clinical trials of biomarkers, large molecules, and other substances is the main driver of the industry. The rising incidence of chronic diseases and the rising demand for clinical trials in developing nations are the factors driving the market growth. For instance, according to the WHO, around 10 million people died from cancer in 2020. As per the estimates of cancer, 30.2 million people are likely to have cancer by 2040. Other factors that are anticipated to drive the segment growth include a rise in biologics, high demand for advanced technologies, and the need for personalized orphan drugs & medicines.
It is also projected that factors like technological advancement, globalization of clinical trials, and the rising need for CROs to perform clinical trials will accelerate industry expansion. Large pharmaceutical and bioanalytical firms, however, encountered difficulties as a result of the COVID-19 pandemic, which hampered clinical studies and treatments. Along with the workload of the COVID-19 project, which involves starting clinical trials, preclinical testing, doing bioanalysis, and interacting with regulatory bodies, other difficulties include the loss of workers at sites. The non-Covid initiatives were delayed, and there were lengthy 4-6 month wait times as a result of the resources being used to support the bioanalytical, preclinical, and clinical testing for the Covid trials. They must also resolve assays that are related to Covid and those that are not.