According to a new report by Reports and Data, the Global Biological Safety Testing Market size was valued at USD 3.59 Billion in 2020 and is forecast to exceed USD 8.92 Billion in terms of revenue, at a CAGR of 5.1% through 2028. The market growth is driven by increasing prevalence of lifestyle-associated disorders such as diabetes, and mounting demand for improving drug development and their following commercialization process.
Biologics are products manufactured from living organisms, therefore their safety and specialized evaluation is of the highest importance. The testing is performed to assure a safe quality and non-contamination of vaccines and biopharmaceuticals. Biological safety testing has become an essential step for new products launching.
Pharmaceutical companies are taking several ensure the safety of targeted and specific therapies, circumvent probable shortcomings and evaluate their outcomes. Surging demand for high manufacturing effectiveness is prompting pharmaceutical and biotechnology companies to include biological safety testing tools. These tools and kits offer highly accurate assessment and result for several target diseases. Increasing influence of regulatory bodies to implement safety guidelines for the biopharma companies coupled with increasing consumer awareness will reinforce biological safety testing market trends through 2028.
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The report focuses on the comprehensive analysis of the competitive landscape along with detailed company profiles, market share, product portfolio, financial standings, market reach, global position, and strategic business expansion plans.
Some of the players profiled in the report are
Charles River Laboratories International Inc., Lonza Group, SGS SA, Sigma-Aldrich Corporation, Avance Biosciences Inc., WuXiPharmaTech Inc., BSL Bioservice, Cytovance Biologics Inc., Toxikon Corporation, and Merck KGaA, among others.
The report sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches among others. It also discusses in detail the technological advancements, product developments, and research and development activities of each key company.
Further the report segments the Biological Safety Testing market on the basis of product types, applications, end-uses, and regions. The report discusses in detail the key factors influencing revenue growth of the segments and market growth in key regions. It also discusses economic growth, technological advancement, and presence of key players in each major geographical region.
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Product Outlook (Revenue, USD Million; 2020-2028)
- Reagents & kits
- Instruments
- Services
Application Outlook (Revenue, USD Million; 2020-2028)
- Vaccines & therapeutics
- Stem cell
- Tissue & tissue-based products
- Gene therapy
- Blood & blood-based therapy
Test Type Outlook (Revenue, USD Million; 2020-2028)
- Endotoxin tests
- Bioburden tests
- Adventitious agent detection tests
- Residual host contamination detection tests
- Sterility tests
- Cell line authentication and characterization tests
- Others
Market Segmentation by Regions:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Points Covered in the Report:
- Key insights into the latest growth trends, developments, technological and product advancements, and research and development scenario
- Analysis of micro- and macro-economic factors and regulatory framework
- In-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends
- SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the competitive landscape
- Strategic recommendations to established market players and new entrants to overcome limitations and entry-level barriers in the global market landscape
- Analysis of market drivers, restraints, challenges, limitations, threats, growth prospects and opportunities
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