The research report on ‘global biological safety testing market’ offers a broad perspective of this industry vertical.
Description – The research report on ‘global biological safety testing market’ offers a broad perspective of this industry vertical. It analyzes the market’s structure and size while offering data regarding growth estimations and revenue predictions. The study highlights factors that are positively and negatively impacting the business space as well as scrutinizes political, economic, social and technological trends prevailing in the market.
Global biological safety testing industry registered a valuation of USD 3.40 billion in the year 2019 and is expected to showcase a y-o-y growth rate of 10.40% between 2020 and 2027. This growth is primarily driven by favorable regulatory scenario promoting life science industries.
The study evaluates the impact of COVID-19 outbreak on the overall market growth. Additionally, the document delivers crucial insights pertaining to various market segmentations such as product & service, test type, application spectrum and regional scope, alongside their respective contributions towards the overall market share.
The report analyzes the competitive scenario of global biological safety testing market and provides significant information such as market share, regional presence and production capabilities of the prominent companies.
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In fact, the UK government invested over USD 1.12 million in the year 2019 towards life science innovation schemes in order to facilitate research institutes in discovering cure for chronic conditions. Similarly, McKinsey & Co. entered into a partnership with stakeholders of research-based pharmaceutical companies and formed IPA (Indian Pharmaceutical Alliance) in 2019 with an aim to improve life science industry scenario in India.
For the uninitiated, biologics refer to the products which are acquired from living organisms and have unique set of properties. Biologics require exceptional safety from contamination and hence, biological safety testing is widely used in order to maintain non-contamination and high quality of biopharmaceuticals & vaccines as well as to ensure compliance with the respective government regulations.
Some primary biological safety tests include endotoxin tests, residual host contamination detection tests, bioburden testing and sterility testing. These tests are employed in cellular & gene therapy products, vaccines, blood & blood-related products as well as tissue & tissue-related products.
To access a sample pages of this report titled “Global Biological safety testing Market Size study with COVID-19 impact, by Product & service (Kits & reagents, services, and instruments), by Test type (Endotoxin tests, sterility tests, Cell line authentication and characterization tests, bioburden tests and others), by application (Vaccine & Therapeutics Development, Blood and Blood-Related Products Testing, Cellular and Gene Therapy, Tissue and Tissue-Related Products Testing and Stem Cell Research) and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below:
https://www.marketstudyreport.com/reports/global-biological-safety-testing-market-size-research
Assessing the impact of COVID-19
Increased pervasiveness of COVID-19 disease is aiding the expansion of biological safety testing industry. Numerous biotech firms are studying Sars-Cov-2 genome and focusing on the development of effective vaccine. Surging investments towards COVID-19 related R&D activities among biotech firms is also creating lucrative growth opportunities for the overall market during the coronavirus pandemic.
However, lack of skilled professionals may act as a restraining factor to the growth of biological safety testing industry.
Highlighting the market segmentations
Worldwide biological safety testing industry is segmented with respect to product & services terrain, test type, application spectrum and regional landscape. As per product & services terrain, the market is split into instruments, services and kits & reagents.
In terms of test type, the market is categorized into bioburden tests, cell line authentication & characterization tests, endotoxin tests, sterility tests, and others. While the application scope of biological safety testing industry comprises of tissue & tissue-related products testing, stem cell research, cellular & gene therapy, blood & blood-related products testing, and vaccine & therapeutics development.
From the regional frame of reference
Global biological safety testing industry is divided into North America, Asia-Pacific, Latin America, Europe and Rest of the World. North America market is predicted to expand substantially during the forecast period, primarily due to escalating healthcare expenditure.
Alternatively, Asia-Pacific biological safety testing industry is poised to accumulate significant revenues in the ensuing years. Favorable government reforms pertaining to life science sector is swaying the business dynamics in the region.
Emphasizing on the competitive scenario
The prominent companies in worldwide biological safety testing industry are Pace Analytical Services Inc., Cytovance Biologics Inc., Toxikon Corp., Sartorius AG, WuXi AppTec, SGS S.A., Thermo Fisher Scientific Inc., Lonza Group Ltd., Merck KGaA, and Charles River Laboratories International Inc.
Global Biological Safety Testing Market by Product & Service (Revenue, USD Billion, 2017-2027)
- Kits & Reagents
- Services
- Instruments
Global Biological Safety Testing Market by Test Type (Revenue, USD Billion, 2017-2027)
- Endotoxin Tests
- Sterility Tests
- Cell Line Authentication & Characterization Tests
- Bioburden Tests
- Others
Global Biological Safety Testing Market by Application Scope (Revenue, USD Billion, 2017-2027)
- Vaccine & Therapeutics Development
- Blood & Blood-related Products Testing
- Cellular & Gene Therapy
- Tissue & Tissue-related Products Testing
- Stem Cell Research
Global Biological Safety Testing Market by Region (Revenue, USD Billion, 2017-2027)
Europe
- U.K.
- Germany
- Spain
- France
- Italy
- Rest of Europe
North America
- U.S.
- Canada
Asia-Pacific
- China
- South Korea
- India
- Japan
- Australia
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
Rest of the World
Global Biological Safety Testing Market
- Charles River Laboratories International Inc.
- Merck KGaA
- Lonza Group Ltd.
- Sartorius AG
- SGS S.A.
- Thermo Fisher Scientific Inc.
- Pace Analytical Services Inc.
- WuXi AppTec
- Cytovance Biologics Inc.
- Toxikon Corp.
Related Report:
Global Environment Testing Services Market Size study, by Type (Organic Compounds, Microbiological Contaminants, Residue, Heavy Metal and Solids), By Application (Soil, Water and Air) and Regional Forecasts 2020-2027
Global Environment Testing Services Market is valued approximately USD 7.70 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.90 % over the forecast period 2020-2027. Environment Testing Services determines hazards within environment that is harmful to people. Large spills of hazardous substances can seep into soil and then possibly into groundwater which will affect drinking water supply. Maintaining the right quantities of all components in the environment is a must for a sustainable future. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. Rise in initiatives that cause sustainable development, increased awareness of environmental degradation and favorable government policies is expected to drive the growth of the environmental testing services market.
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