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The fact that bioanalytical services claimed a huge share of the global healthcare analytical testing services made its role in the healthcare sector extremely obvious. This was a clear indication of the growing number of large molecule drugs foraying into the market.
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The sector is growing, no doubt about it. Today, biotech and pharma companies are relying big time on
the bioanalytical service provider for support in conducting research and study. The idea is to leverage
the internal resources effectively while outsourcing tasks pertaining to testing in different stages such as
discovery, formulation, development and manufacturing.
The fact that bioanalytical services claimed a huge share of the global healthcare analytical testing
services made its role in the healthcare sector extremely obvious. This was a clear indication of the
growing number of large molecule drugs foraying into the market. The strong growth has caused quite a
stir and there are several new entrants that are now ready to give tough competition to the already
established service providers. There are several contract development and manufacturing organizations
or CDMOs that are now expanding their forte and have started offering bioanalytical services. Shorter
turnaround times and competitive pricing have made them the preferred service provider of several big
pharma and biotech companies.
The complexities associated with testing and research continue to increase with each passing day. So
much so that companies are now forced to outsource more than ever before simply because they do not
have the time for extensive training nor the inclination to invest in expensive equipment. For all sorts of
analytical functions, they turn to reliable service providers. Some of the services they need include:
Analytical method development
Analytical method validation
Raw material testing
By assigning these tasks to service providers, companies get a chance to save on cost and allocate their
resources for more meaningful tasks and more complicated research challenges. Besides, tasks like
extractable and leachable (E&L) testing require highly sophisticated instruments that are extremely
expensive. The cost of buying and maintaining such equipment is not something companies want to
bear. Technology ensures that something new and better always comes up making its predecessors
redundant. This does not end here because to use this equipment and analyze and interpret results,
there will be a constant need of experts and professionals. All in all, it's a costly affair which biotech and
pharma companies do not want to indulge in.
Although cost savings has been an important consideration, there is a huge emphasis on other factors
such as better quality and quicker turnaround times. Ultimately, all these factors contribute to greater
efficiency and it's impossible to survive without it. So every company looking for bioanalytical services is
eventually trying to achieve excellence through better performance, high quality and strict regulatory
It has been observed that rapid turnaround times have made new service providers extremely popular.
After all, results of bioanalytical testing form the basis of many important business decisions. Faster
turnaround times therefore can greatly impact the progress of a study or research in various phases. So
bioanalytical service providers that understand the drug development process well and have the
necessary skill sets to drive a study or program are of great value. Service providers understand this and
are willing to walk the extra mile to create a win-win situation for all.