LONDON--(BUSINESS WIRE)--The global biopharmaceutical analytical testing services market 2018-2022 is expected to post a CAGR of close to 9% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increase in demand for mAbs. These antibodies are proteins developed in the pharmaceutical and biotechnology laboratories to bind to the corresponding epitope of the antigen in the body. Therefore, several mAbs are used as healing agents to treat diseases like cancers. These antibodies are used as independent treatments or in conjugation with radiotherapy, drugs, or toxins to kill the infected cells.
This market research report on the global biopharmaceutical analytical testing services market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rise in the production of vaccines as one of the key emerging trends in the global biopharmaceutical analytical testing services market:
Global biopharmaceutical analytical testing services market: Rise in the production of vaccines
Vaccines are beneficial to prevent infectious diseases such as diphtheria, Hepatitis B, and measles. It is one of the cost-effective and successful strategies to prevent health ailments. Around 15% to 20% of infants are unimmunized, which results in unnecessary death every year, particularly in the developing countries of Africa and South America. The major reason for this unimmunized population is low awareness and limitations on the production of vaccines.
“Vaccination is the effective way of preventing the spread of seasonal influenza whose effect is highly unpredictable. National Immunization program, organized by the WHO, aims at preventing disease, death, and disability by providing vaccination against diseases. Vaccines used in universal programs are effective in targeting, controlling, and eliminating illness,” says a senior analyst at Technavio for research on life science research tools.
Global biopharmaceutical analytical testing services market: Segmentation analysis
This market research report segments the global biopharmaceutical analytical testing services market by end-user (pharmaceutical and biotechnology companies, and contract research organizations (CROs)) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a share of more than 39%, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the increased production of biologics and biosimilars.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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