Global Biologics Safety Testing Market worth $ 6.2 billion : Emerging markets offer lucrative opportunities

Global Biologics Safety Testing Market worth $ 6.2 billion : Emerging markets offer lucrative opportunities

This market research study involved the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the global biologics safety testing market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess market prospects.
According to the new market research report “Biologics Safety Testing Market by Product & Service (Consumables, Instrument, Services), Application (Vaccine, Monoclonal Antibodies, Blood products, Cell & Gene Therapy Products), Test Type (Endotoxin, Myoplasm, Sterility Test) – Global Forecast to 2026″, published by MarketsandMarkets™, the global market is projected to reach USD 6.2 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 12.4% during the forecast period.
The growth of the global biologics safety testing market is driven by factors such as the growth in the biologics and biosimilars markets, growing concerns over cell culture contamination, and rising biopharmaceuticals R&D activities and investments. In addition, emerging markets and increasing biopharmaceutical outsourcing are expected to provide significant growth opportunities for players in the Biologics safety testing market.
 
Browse in-depth TOC on “Biologics Safety Testing Market”
 
142 – Tables
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The growth of the global biologics safety market is driven by factors such as the growth in the biologics and biosimilars markets, growing concerns over cell culture contamination, and rising biopharmaceuticals R&D activities and investments.
 
COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic. The World Health Organization (WHO) officially declared the outbreak of COVID-19 a pandemic. A mix of established pharmaceutical and biopharmaceutical companies, along with the players of the Biologics safety testing market, have stepped forward to contribute to worldwide research efforts by providing biologics safety testing for developing safety test kits and testing for treatments and vaccines manufacturing that target the infection caused by the novel Coronavirus.
 
The residual host-cell proteins and DNA detection tests segment accounted for the largest share of the Biologics Safety Testing market in 2020.
 
Based on test type, the market is segmented into residual host-cell proteins and DNA detection tests, endotoxin tests, sterility tests, mycoplasma tests, bioburden tests, and virus safety tests. In 2020, the residual host-cell proteins and DNA detection tests segment accounted for the largest market share. The rising demand for residual HCP and DNA detection tests for recombinant proteins and increasing focus on the quality of drugs are the major factors driving the growth of this segment.
 
The monoclonal antibodies manufacturing segment accounted for the largest market share of the market in 2020.
 
Based on application, the biologics safety testing market is segmented into monoclonal antibodies manufacturing, vaccines manufacturing, blood and blood products manufacturing, cellular and gene therapy products manufacturing, and other applications. In 2020, the monoclonal antibodies manufacturing segment accounted for the largest market share. The large share of this segment can be attributed to the rising prevalence of diseases and increasing government initiatives for the development of monoclonal antibody drugs.
 
 
The Asia Pacific region is the fastest-growing region of the Biologics safety testing market in 2020.
 
The Asia Pacific market is projected to witness the highest growth rate during the forecast period, primarily due to the expansion of key market players in emerging Asia Pacific countries, increasing expenditure on life science research, and the increasing trend of pharmaceutical outsourcing to Asia Pacific countries.
 
Prominent players in the biologics safety testing market are Charles River Laboratories, Inc. (US), Lonza (Switzerland), Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), SGS SA (Switzerland), WuXi AppTec (China), and Eurofins Scientific (Luxembourg). The key players in this market are focusing on strategic expansions, partnerships, and product launches and approvals to expand their presence in the market.
 
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See also  Biologics Safety Testing Market worth USD 6.2 billion by 2026 : Emerging markets offer lucrative opportunities

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