Bioanalytical Testing Services Market Scope And Analysis

Bioanalytical Testing Services Market Report Scope

Industry Developments and Future Opportunities: 

Various initiatives taken by key players operating in the global bioanalytical testing services market are listed below:

1. In May 2023, Labcorp announced its plans for enhancing its central laboratory presence and drug development capabilities in Japan through the expansion of CB Trial Laboratory, the central laboratory comanaged by Labcorp Drug Development and BML, a leading Japanese provider of clinical laboratory testing services.
2. In September 2022, KCAS Bioanalytical and Biomarker Services (KCAS) finalized the purchase of Active Biomarkers, located in Lyon, France. Active Biomarkers is a renowned assay development and specialty bioanalytical laboratory with expertise in oncology, infectious disease, inflammation, and neurodegenerative disorders. This acquisition adds to the world-class bioanalytical expertise of KCAS, along with expanding the reach of its large molecule and cell/gene therapy bioassay services in Europe.
3. In July 2022, Eurofins Scientific announced the completion of the acquisition of WESSLING Hungary. WESSLING Hungary is one of the leading environmental, food and BioPharma product testing laboratories in Hungary. WESSLING generated ~€15 million in revenue in 2021 with ~300 employees in their staff. The acquisition of WESSLING Hungary further expands Eurofins’ presence in Central and Eastern Europe, and extends its position in BioPharma Product Testing.
4. In July 2022, SGS announced the acquisition of Proderm. Proderm is the leading provider of advanced clinical testing solutions for cosmetics, personal care, and medical products in Germany. Proderm serves clients in the global consumer care and pharmaceutical industries, as a CRO conducting clinical studies from initial consultation to final report.
5. In May 2021, Labcorp expanded its drug development offering in Asia Pacific with the addition of bioanalytical services to its line-up available for its customers in Singapore.
6. In March 2023, Pharmaron Beijing Co., Limited announced that its Gene Therapy CDMO based in Liverpool, UK, received a prestigious grant from the Life Sciences Innovation Manufacturing Fund (LSMIF) of the UK Government to expand its viral vector and DNA manufacturing facilities.
7. In September 2022, KCAS Bioanalytical and Biomarker Services (KCAS) finalized the purchase of Active Biomarkers, located in Lyon, France. Active Biomarkers is a renowned assay development and specialty bioanalytical laboratory with expertise in oncology, infectious disease, inflammation, and neurodegenerative disorders. This acquisition adds to the world-class bioanalytical expertise of KCAS, along with expanding the reach of its large molecule and cell/gene therapy bioassay services in Europe.

Competitive Landscape and Key Companies:

SGS SA, Pharmaron Beijing Co Ltd, Element Materials Technology Group Ltd, CD BioSciences Inc, Charles River Laboratories International Inc, Eurofins Scientific SE, Labcorp Drug Development Inc, Syneos Health Inc, KCAS Bioanalytical and Biomarker Services LLC, ICON Plc, and Intertek Group Plc are the prominent bioanalytical testing services market companies. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide.