Australia Bioanalytical Testing Services Market Size & Outlook
Australia bioanalytical testing services market, 2018-2030 (US$M)
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Australia bioanalytical testing services market highlights
- The Australia bioanalytical testing services market generated a revenue of USD 64.3 million in 2023 and is expected to reach USD 132.4 million by 2030.
- The Australia market is expected to grow at a CAGR of 10.9% from 2024 to 2030.
- In terms of segment, large molecule was the largest revenue generating molecule in 2023.
- Small Molecule is the most lucrative molecule segment registering the fastest growth during the forecast period.
Bioanalytical testing services market data book summary
| Market revenue in 2023 | USD 64.3 million |
| Market revenue in 2030 | USD 132.4 million |
| Growth rate | 10.9% (CAGR from 2023 to 2030) |
| Largest segment | Large molecule |
| Fastest growing segment | Small Molecule |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Small Molecule, Large Molecule |
| Key market players worldwide | Thermo Fisher Scientific Inc, Icon PLC, Charles River Laboratories International Inc, Labcorp Holdings Inc, IQVIA Holdings Inc, Syneos Health, SGS AG, Intertek Group PLC, Pace Analytical Services |
Other key industry trends
- In terms of revenue, Australia accounted for 1.5% of the global bioanalytical testing services market in 2023.
- Country-wise, Kuwait is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China bioanalytical testing services market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 132.4 million by 2030.
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Bioanalytical Testing Services Market Scope
Bioanalytical Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia bioanalytical testing services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bioanalytical testing services market will help companies and investors design strategic landscapes.
Large molecule was the largest segment with a revenue share of 64.85% in 2023. Horizon Databook has segmented the Australia bioanalytical testing services market based on small molecule, large molecule covering the revenue growth of each sub-segment from 2018 to 2030.
Australia is highly cost-competitive for early-phase clinical trials compared to the U.S. It is 28% cheaper than the U.S. before tax incentives and 60% after tax incentives. The country has a simplified regulatory process for the approval of clinical trials.
It operates a Clinical Trial Notification scheme, which means that the regulator delegates the trial review process to ethics committees and only needs to be notified of the outcome. This, in turn, minimizes the regulatory burden on clinical trial sponsors, enabling them to save time & money.
The Australian government is also implementing reforms to reduce study start-up times, boost patient recruitment, and standardize clinical trial costs. The Department of Health and industry stakeholders are working together to improve clinical research and trial environment in Australia.
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Our clientele includes a mix of bioanalytical testing services market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia bioanalytical testing services market , including forecasts for subscribers. This country databook contains high-level insights into Australia bioanalytical testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia bioanalytical testing services market size, by molecule, 2018-2030 (US$M)
Australia Bioanalytical Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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