Global demand for the biologics safety testing market was valued at approximately USD 3.16 billion in 2018 and is expected to generate revenue of around USD 6.79 billion by end of 2025, growing at a CAGR of around 11.6% between 2019 and 2025.
Biologics Safety Testing Market
According to the report, the global demand for the biologics safety testing market was valued at approximately USD 3.16 billion in 2018 and is expected to generate revenue of around USD 6.79 billion by end of 2025, growing at a CAGR of around 11.6% between 2019 and 2025.
The report covers forecasts and analyses for the biologics safety testing market on a global and regional level. The study provides historic data from 2016 along with forecasts from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the biologics safety testing market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the biologics safety testing market on a global as well as regional level.
In order to give the users of this report a comprehensive view of the biologics safety testing market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides a company market share analysis in order to give a broader overview of the key players in the biologics safety testing market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the biologics safety testing market on a global and regional basis.
The study provides a crucial view on biologics safety testing by segmenting the market based on product, technology, test type, application, and region. All the segments of the biologics safety testing market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
Biologics products referred to products that are derives from biological sources. Biologics are used in animals and humans as medicines. These biologics include products derived from serum and blood, large polypeptides, vaccines, antitoxins, toxins, viruses, etc. Biologics safety is an important parameter for their use in animals and humans and also for regulatory approvals.
The demand for the biologics safety testing market is driven by increasing demand for biologics for treating various chronic diseases burden, increasing investments in life science research and development, rapid growth in new product launches, growth in pharmaceutical and biopharmaceutical research, and increasing prevalence of chronic disorders. However, stringent regulatory requirements and longer approval time may act as restraining factors for market growth. Increased preference for pharmaceutical outsourcing and emerging markets are expected to act as new growth opportunities for major market players in biologics safety testing.
Based on product, the global biologics safety testing market is bifurcated into services, instruments, and reagents and kits. The reagents and kits segment held the largest market share in 2018 due to the repeated and consistent use of reagents and kits. The services segment will register rapid growth in the coming years with increasing demand for outsourcing services.
Based on test types market is segmented into bioburden tests, adventitious agent detection tests, residual host contamination detection tests, cell line authentication, and characterization tests, sterility tests, endotoxin tests, and other test types. Endotoxin test type segment held the largest market share in 2018. sterility test type segment will witness the highest growth rate over the forecast period.
The application segment is divided into tissue and tissue-related product testing, cellular and gene therapy, blood and blood-related product testing, vaccine, and therapeutics development, and stem cell research. Vaccine and therapeutics development was the largest application segment for the biologics safety testing market in 2018. Increasing vaccine and therapeutic drug development activities by major biopharmaceutical and pharmaceutical companies have attributed to the largest market share.
North America dominated the global biologics safety testing market in 2018. Increasing focus on the new vaccine and therapeutics development by pharmaceutical and biopharmaceutical companies, availability of funds, growing R&D investments, presence of developed R&D infrastructure, and technological advancements are factors driving the market in this region. Europe was the second largest regional market. High R&D spending, growing biologics development projects, government support for R&D, and the presence of developed infrastructure are some of the factors that boost the market growth in this region. Latin America is expected to witness considerable growth in the coming years. Asia Pacific region will exhibit the highest growth in the biologics safety testing market in the coming years. Increasing R&D spending, the focus of contract research organizations on capturing growth avenues in developing countries, increasing healthcare spending, and increasing chronic disease burden are factors propelling biologics safety testing market growth in the Asia Pacific. Lack of infrastructure and funds may attribute to slower growth in the Middle East and Africa.
Major players included in the report are SGS SA, Merck KGaA, Charles River Laboratories, Lonza Group LTD., Toxikon Corporation, Pace Analytical Services Inc., Cytovance Biologics, Inc., Sartorius AG, Thermo Fisher Scientific Inc., and WuXi Apptec among others.
The report segment of global biologics safety testing market as follows: