Rapidly Expanding Pharmaceutical Sector To Drive The Biological Safety Testing Products And Services Market

(MENAFN- Straits Research) The end-users of the biological safety testing products & services include pharmaceutical and biotechnology companies, contract development, and manufacturing organizations. Developing countries such as India and China are heavily investing in the healthcare infrastructure and research laboratories. Research laboratories offer extensive capacities such as drug discovery and cell line development and culture that require biologics safety testing to develop pathogen-free products and reliable services. The biological safety testing products and services require the expertise of the analysts to achieve optimal efficacy. However, the lack of skilled professionals might hamper the market growth to a certain extent.
Increasing focus on R&D activities accelerates the demand for biological safety testing products & services. The biologic safety testing products and services aids in avoiding cross-contamination, mix-ups, and leakage. Growth of the pharmaceutical and biotechnology industries drives the biological safety testing products and services market. As per the Indian Brand Equity Foundation, the Indian Biotech Industry market is anticipated to reach USD 100 billion by 2020 from USD 11 billion in 2016.

Got questions about your regional growth of
Biological Safety Testing Products and Services Market?`
Just drop us a line or call on +1 646 480 7505

Key Highlights

Ø The biological safety testing products and services market is expected to reach USD 2.93 billion by 2029 with a CAGR of 12.29%.
Ø Asia-Pacific's biological safety testing products and services market is projected to grow with a lucrative CAGR of 14% during the forecast period. Rising healthcare spending and increasing awareness about biological safety testing products drive regional market growth.
Ø The kits and reagent segment to hold the largest market share
Ø The vaccines and therapeutics segment is projected to grow at a significant rate
Ø By instrument, the biological safety cabinets segment holds the highest market share in the biological safety testing products & services market. The cabinets offer superior productivity, aids in optimizing microbial contamination control.

Key Players

Charles River Laboratories
Lonza Group
MilliporeSigma
Merck
Sartorius Stedim
BioOutsource Limited

Recent Developments

On September 21, 2018, Merck announced the establishment of a new BioReliance Testing Scientific Laboratory in Singapore. The new plant will help the company to expand its footprint in biological safety testing.
On April 10, 2018, Thermofischer Scientific developed a cloud-enabled BSC to control cross-contamination, maintain seamless workflow, and enhance ease-of-use in cell culture laboratories. The company also aims to expand its product portfolio in the biological safety testing products & services market.

Biological Safety Testing Products and Services Market: Segmentation
By Product

Test kits and reagents
Instruments
Services

By Application

Blood and blood-based products
Vaccines and therapeutics
Stem cells

By Test

Endotoxin test
Sterility test
Adventitious agent and virus testing

By Region

North America
Europe
Asia-Pacific
South America
The Middle East and Africa


" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods

MENAFN12082024004597010339ID1108544033