Biologics safety testing market players and analysis by product, test, application — forecast till 2030. The global biologics safety testing market is expected to grow at a robust 13.6% CAGR over the forecast period (2022 to 2030), according to the latest research report from Market Research Future (MRFR). As biologics are increasingly used in medication development and stem cell research, among other uses, biologic safety testing has grown in importance in the healthcare industry. With the aid of a thorough examination of the market's historical growth trajectory, the study analyses the market's expanding possibilities for biologics safety testing.
The study provides a detailed analysis of the key factors influencing the global market for biologic safety testing. The paper also evaluates the regulatory environment and economic context of the market for biologic safety testing. Hence, the report offers a thorough insight of the biologics safety testing market.
Over the course of the forecast period, the biologics safety testing market is expected to be significantly influenced by the expanding pharmaceutical and biotechnology sectors. Due to the growing public outrage over the use of certain potentially dangerous ingredients in vaccinations, vaccine safety has elevated to the top of the list of concerns for stakeholders in the pharmaceutical industry. Due to this, substantial funds have been invested in biologics safety testing to guarantee the security of every vaccine created. Due to the intense controversy surrounding vaccine safety in the U.S., there is an increasing need for equipment and testing standards for biologics there.
A significant factor driving the global market for biologics safety testing is projected to be the area of stem cell research's expanding expansion. The importance of stem cell research in the field of medicine has increased the need for companion technologies like biologics safety testing. Over the course of the projection period, the market for biologics safety testing is projected to be significantly influenced by the growing government support for stem cell research.
Competitive Analysis:
Leading players in the global biologics safety testing market include Merck KGaA, Sartorius AG, Charles River Laboratories, Lonza Group Ltd., Thermo Fisher Scientific Inc., SGS S.A., Wuxi Apptec, Avance Biosciences Inc., Cytovance Biologics Inc., and Eurofins Scientific. Increasing investment in life sciences research is likely to be a key driver for the biologics safety testing market over the forecast period. The highly stringent government regulations for the approval of biosimilars and the high cost of drug development are likely to lead to a growing demand for funding in the biologics safety testing market, leading to bigger players claiming a larger share in the market.
Segmentation:
The global biologics safety testing market is segmented on the basis of product, test type, application, and region.
By product, the global biologics safety testing market is segmented into kits and reagents, services, and instruments. Kits and reagents held the largest share in the biologics safety testing market.
By test type, the global biologics safety testing market is segmented into sterility tests, endotoxin tests, adventitious agent detection tests, residual host contamination detection tests, cell line authentication and characterization tests, bioburden tests, and others.
By application, the global biologics safety testing market is segmented into blood and blood-related products testing, vaccine and therapeutics development, tissue and tissue-related products testing, cellular and gene therapy, and stem cell research.
Regional Analysis:
The Americas region is likely to be the highest grossing regional market over the forecast period, followed by Europe. The strong presence of biotech and pharma industry players in North America has enabled rapid growth of the biologics safety testing market in the Americas. The growing presence of drug development endeavors in North America is also likely to lead to a growing demand for biologics safety testing over the forecast period.
The steady progress of the biotech industry in Asia Pacific is expected to make it a highly profitable regional market for the biologics safety testing market over the forecast period.
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