Biologics Safety Testing Industry Report: By Product (Kits & Reagents, Instruments, Services), Test (Sterility, Endotoxin, Cell Line Authentication), Application (Vaccine Development, Blood Products, Stem Cell Research)—Global Forecast till 2023
The Global Biologics Safety Testing Industry is expected to grow at a robust 13.6% CAGR over the forecast period (2018 to 2023), according to the latest research report from Market Research Future (MRFR). Biologics safety testing has become an important feature of the healthcare sector in recent years due to the growing use of biologics in drug development and stem cell research, among other applications. The growing prospects of the biologics safety testing market are analyzed in the report with the help of detailed analysis of the market’s past growth trajectory. The major drivers and restraints affecting the global biologics safety testing market are assessed in detail in the report. The economic background of the biologics safety testing market and the regulatory scenario in the market are also assessed in the report. A complete overview of the biologics safety testing market is thus provided in the report.
The growing pharmaceutical and biotechnology industries are likely to be a major driver for the biologics safety testing market over the forecast period. Vaccine safety has become a key concern for players in the pharmaceutical sector, due to the growing public outcry about the use of certain potentially harmful substances in vaccines. This has driven significant investment in biologics safety testing in order to ensure the safety of every vaccine produced. The U.S. is a leading market where vaccine safety is a hotly debated issue, leading to a growing demand from the U.S. market for biologics safety testing protocols and equipment.
Increasing development in the field of stem cell research is also likely to be a major driver for the global biologics safety testing market. Stem cell research has become vital in various areas of medicine, leading to a growing demand for companion technologies such as biologics safety testing. The increasing government support to stem cell research is also likely to be a key driver for the biologics safety testing market over the forecast period.
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 in 2017.
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.
