Global Biologics Safety Testing Market was valued at USD 3463.90 Million in the year 2020. Major factors driving the growth of this market are the growth in pharmaceutical and biotechnology industry driven by government support, the positive trend of R&D investment in the life science sector, increasing number of drug launches, high incidence and large economic burden of chronic diseases. In the coming years, emerging markets and increasing pharmaceutical outsourcing are expected to offer growth opportunities for players in the biologics safety testing market. The rising need for biologics has resulted in unprecedented growth in the number of biopharmaceutical companies. Increasing competition to develop therapeutically advanced drugs on a large scale has compelled manufacturers to improve aspects of manufacturing processes such as productivity and cost-efficiency.
High kits and reagents accounted for the largest share of the market among product type segment. The growth of high kits and reagents are driven by repeat purchase of kits and reagents as compared to instruments and increasing adoption of kit-based testing. Additionally, Services followed by High kits & reagents and Instruments will also boost the biologic's safety testing market in coming years.
Moreover, growth in pharmaceutical and biotechnology industry, tremendous R&D ventures by new players in the life sciences industry, and increment in number of new medications launches in recent years drive the biologics safety testing market. However, stringent government directions for endorsement of biologic's and high cost of medication advancement restricts the market development. Likewise, legislative aid towards giving assets to biologic's advancement and its safety is predicted to offer lucrative market growth avenues. Growing pharmaceutical and biotechnology industry, rising investments in research and development by key players in the life sciences industry, and rising number of new drugs entering into the market are few factors driving the biologic's safety testing market. Regulatory organizations are working towards implementing relevant standards for biological safety to ensure the patient’s safety.
Among the regions, North America accounted for the largest share of the biologics safety testing market in 2020. Factors such as strong R&D trend in life sciences and growth in pharmaceutical industries will drive the biologics safety testing market in the North American region. The dominant share can be attributed to high investments in biotechnology, increased adoption in cancer research, and the development of new biologics, vaccines, & drugs.
Scope of the Report
• The report analyses Biologics Safety Testing Market by Value.
• The report analyses Biologics Safety Testing Market Product Type (High Kits & Reagents, Instruments, Services).
• The report further assesses the Biologics Safety Testing Market by Application Type (Vaccine & Therapeutics, Blood & Blood Based Products, Gene Therapy and Others).
• The report further assesses the Biologics Safety Testing Market by Test (Endotoxin Tests, Sterility Tests, Bioburden Tests, Adventitious Agent Detection Tests and Others)
• The Global Nucleic Acid Isolation and Purification Market has been analysed By Region (North America, Europe, Asia Pacific and ROW) and By Country (United States, Canada, Germany, France, U.K, Italy, China, Japan, India and South Korea).
• The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID Pandemic. Also, the attractiveness of the market has been presented By Region, By Product, By Application, and By Test. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The companies analysed in the report include Lonza Group Ltd., SGS S.A., Sartorious AG, Merck KGaA, Thermo Fisher Scientific Inc, Samsung Biologics, Charles River Laboratories International Inc., Maravai life sciences, Wuxi APPTEC, Eurofins Scientific.
• The report presents the analysis of Biologics Safety Testing Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
Key Target Audience
• Biologics Safety Testing suppliers
• Hospitals and healthcare units
• Consulting and Advisory Firms
• Investment Banks and Equity Firms
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