Web Accessibility Testing Service Market Research Report (2022-2028): Key Trends and Opportunities | Hitachi Social Information Services，Lionbridge Technologies

Bioinformatics Market AnalysisGlobal bioinformatics market is predicted to grow at a 19.8% CAGR over the forecast period (2013-2022), as per the latest Market Research Future (MRFR) report.

Bioinformatics has several other applications in biology and medicine, including forensic analysis of microbes, biotechnology, drug developments, gene therapy, preventive medicines, and molecular medicines.

Bioinformatics has proven in having extreme potential in identifying diseases beforehand, determining treatment, and helping in making human lives better.

Additional factors boosting market growth include increasing need for integrated data, drug discovery, and the rising number of collaborations amongst research institutes and companies.

On the contrary, lack of user-friendly tools at affordable prices, common data formats, and lack of skilled personnel are factors that may impede the bioinformatics market growth over the forecast period.

Bioinformatics Market SegmentationThe Market Research Future report provides a wide segmental analysis of the bioinformatics market based on sector, services and technology, and application.

Polyolefin Market- Competitive LandscapeThe global polyolefin is a rapidly growing market, which consists of significant number of mature players.

The market consists of considerable number of tier 1 and 2 companies.

Industry/ Innovation/ Related News:May 11, 2017- The U.S. basech oil & natural gas giant, ExxonMobil Chemical Company reached an agreement with Singapore based Jurong Aromatics Corporation Pte.

This development acquisition is widely seen as integrating JAC's operations with refining and petrochemical complex of ExxonMobil Singapore, which has a crude oil processing capacity of 592,000 b/d and includes two world-scale steam crackers.December 11, 2017- Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha and Total, announced its plans to invest more than USD 300 Million for expansion of its integrated refining & petrochemicals platform located in Daesan, South Korea.

This is expected to strengthen Grace’s catalysts technology portfolio, commercial relationships, and manufacturing network.December 7, 2017- Saudi Arabia based petrochemical giant SABIC announced its ambitious plans to spend around USD 3 billion to USD 10 billion on acquisition, in the next five years.

According to SABIC, a “strategic market” for the company is looking at opportunities to expand the current joint venture with Chinese petrochemical major Sinopec.

Global Bioanalytical Testing Services Market Research Report: by Molecule Type (Small Molecule, Large Molecule), by Test Type (Pharmacokinetics, Pharmacodynamics, Bioanalysis, Bioequivalence, Others), and Region - Forecast to 2023

Bioanalytical Testing Services Overview:

The global bioanalytical testing services market is expected to touch a valuation of USD 1,867.30 million by 2023, as per the latest report by Market Research Future (MRFR). High needs of blockbuster drugs to treat chronic diseases is one of the major factors predicted to drive the market growth over the forecast period (2018-2023). Rising research and development activities conducted in biotechnology and pharmaceutical sectors can spur market growth.

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Increasing development of biologics can induce market demand over the forecast period. Patent expiry of various drugs and need for them to expedite clinical trials can positively impact the bioanalytical testing services market. Outsourcing of testing services to contract research organizations (CROs) in developing economies to curtail operational expenditure costs can propel market growth over the forecast period.

Rising prevalence of cancer and other chronic ailments which require blockbuster drugs can bolster market demand in the forthcoming years. But high costs of drug discovery can pose a challenge to market growth.

Segmentation:

The bioanalytical testing services market can be segmented by molecule type and test type.

By molecule type, the market is segmented into small and large. The small segment accounted for nearly 66% market share, while the large segment accounted for 34.9% share in 2017. Small molecules can exhibit a 11.94% CAGR over the forecast period owing to its advantages against battling chronic diseases. Large molecules can grow at a higher CAGR (14.76%) than its counterpart due to large scale development of biologics. Biologics are an essential component in the manufacture of vaccines, proteins, and others. Testing of large molecules can turn out to be a lucrative opportunity for the bioanalytical testing services market.

By tests, it is segmented into pharmacokinetics (PK), pharmacodynamics (PD), bioavailability, bioequivalence, and others. Within this segment, PD accounted for 39% share of the bioanalytical testing services market in 2017. It can touch a size of USD 467.25 million by 2023. This can be credited to this branch of testing capable of determining dose concentration-response relationships of drugs. PK assumed the second position by capturing close to 25% share in the same year. This segment is touted to generate revenues at 13.96% CAGR over the forecast period.

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Regional Analysis:

The bioanalytical testing services market covers the latest trends and opportunities across Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The Americas region accounted for 39.3% share in 2017, followed by Europe (31.3%), APAC (22.1%), and MEA (7.3%). The large share of Americas can be credited to presence of major pharmaceutical manufacturers, high incidence of chronic diseases, and technological advances in preclinical and clinical testing phases. The huge patient pool residing in the region can generate close to USD 716.73 million by 2023 at a CAGR of 12.39% over the forecast period.

The APAC bioanalytical testing services market can grow at a rapid clip owing to presence of CROs in India and China. India is touted to be the prime destination owing to the low production cost of drugs in the country. Factors such as developing healthcare infrastructure, investments by pharmaceutical giants of Europe and U.S., and numerous research organizations are expected to augment the market size to USD 435.05 million by 2023.

Europe can experience 12.94% CAGR over the forecast period, while the MEA region is likely to experience a modest growth rate.

Competitive Dashboard:

Prominent players operating in the bioanalytical testing services market include Toxikon (U.S.), Intertek Group plc (U.K.), Charles River Laboratories, Inc. (U.S.), SGS SA (Switzerland), WuXi AppTec (U.S.), Pharmaceutical Product Development (U.S.), Covance, Inc. (U.S.), ICON plc (Ireland), Pace Analytical Services, LLC (U.S.), inVentiv Health (U.S.), and Laboratory Corporation of America Holdings (U.S.). Collaborations, mergers & acquisitions, and product portfolio expansions are core strategies deemed to be employed by these players during the forecast period.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

 MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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