At 8.8% CAGR, the Middle East & Africa Bioanalytical Testing Services Market is Projected to be worth US$ 435.80 million by 2030, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa bioanalytical testing services market was valued at US$ 221.87 million in 2022 and is expected to reach US$ 435.80 million by 2030, registering a CAGR of 8.8% from 2022 to 2030. Increasing outsourcing of R&D activities by pharmaceutical companies and high demand for analytical testing of biosimilars and biologics are the critical factors attributed to the Middle East & Africa bioanalytical testing services market expansion.

Pharmaceutical companies outsource research & development activities that are not core to their internal structure. Outsourcing miscellaneous activities allows them to efficiently focus on their internal core competencies for making the drug development process better and more cost effective. Moreover, outsourcing manufacturing activities, along with R&D, benefits them by lowering the turnaround period, adding to their expertise, and eliminating the need for large capital investments. Pharmaceutical businesses are widely implementing the quality-by-design (QbD) concept, which is further propelling the adoption of outsourcing services by pharmaceutical companies to increase the robustness of their production processes and ensure optimal product quality and manufacturing productivity. The concept has gained traction in the pharmaceutical industry over the years with the publication of ICH Q9 (Quality Risk Management), ICH Q8 (R2, Pharmaceutical Development), and ICH Q10 (Pharmaceutical Quality System). According to the ICH Q10 guidelines, analytical methods are essential to the pharmaceutical quality system. Analytical QbD (AQbD) implementation in manufacturing ensures product quality and performance. Outsourcing bioanalytical testing services helps pharmaceutical businesses reduce business risks by avoiding major investments in analytical equipment and skilled professionals, especially while the product is in the early phase of development. Due to the availability of specialized analytical testing service providers with crucial competencies to quickly provide excellent results, pharmaceutical companies are increasingly considering outsourcing bioanalytical testing services to third-party service providers, which fuels the market growth.

On the contrary, high cost associated to bioanalytical testing services hurdles the growth of Middle East & Africa bioanalytical testing services market.

Based on test type, the Middle East & Africa bioanalytical testing services market is categorized into pharmacokinetics, biomarkers, immunogenicity, virology testing, cell-based assays, and others. The cell-based assays segment held 24.3% market share in 2022, amassing US$ 53.88 million. It is projected to garner US$ 114.75 million by 2030 to expand at 9.9% CAGR during 2022-2030.

Based on disease indication, the Middle East & Africa bioanalytical testing services market is categorized into cardiovascular, neurological disorders, metabolic disorders, respiratory diseases, autoimmune disorder, oncology, sexual health, bone disease, and others. The oncology segment held 22.6% market share in 2022, amassing US$ 50.07 million. It is projected to garner US$ 106.22 million by 2030 to expand at 9.9% CAGR during 2022-2030.

Based on end user, the Middle East & Africa bioanalytical testing services market is categorized into pharmaceutical and biopharmaceutical companies, contract research organization (CRO), contract development and manufacturing organization (CDMO), and others. The pharmaceutical and biopharmaceutical companies segment held 61.8% share of Middle East & Africa bioanalytical testing services market in 2022, amassing US$ 137.19 million. It is projected to garner US$ 279.89 million by 2030 to expand at 9.3% CAGR during 2022-2030.

Based on country, the Middle East & Africa bioanalytical testing services market has been categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 40.1% share of Middle East & Africa bioanalytical testing services market in 2022. It was assessed at US$ 89.00 million in 2022 and is likely to hit US$ 172.20 million by 2030, exhibiting a CAGR of 8.6% during 2022-2030.

Key players operating in the Middle East & Africa bioanalytical testing services market are SGS SA, Pharmaron Beijing Co Ltd, Element Materials Technology Group Ltd, Charles River Laboratories International Inc, Eurofins Scientific SE, Labcorp Drug Development Inc, Syneos Health Inc, and Biomarker Services LLC, ICON Plc, and Intertek Group Plc, among others.

• In July 2022, Eurofins acquired WESSLING Hungary enhancing its environmental, food and BioPharma product testing offering.

• In Jan 2023, Charles River and Rznomics Announced the RNA-based Anticancer Gene Therapy Manufacturing Alliance.
  
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