The
global Biological
Safety Testing Products And Services Market size is
expected to reach a value of USD 6.9 billion by 2026, according to a new report
by Grand View Research, Inc., exhibiting a CAGR of 12.3% The market is
predominantly driven by increasing production of biologics, which is boosting
the need for highly efficient biological safety testing tools. Rising disease
burden is expected to be a major factor responsible for high production of
biologics, thereby contributing to market growth.
Increasing
prevalence of lifestyle-associated chronic diseases such as cancer and diabetes
is a key factor contributing to rise in drug development and subsequent
commercialization. This is expected to increase the need for scrutinizing &
ensuring safety of targeted and specialized therapies, evaluating outcomes, and
circumventing probable shortcomings. In addition, pharmaceutical and
biotechnology companies are increasingly incorporating biological safety
testing products and services to produce highly potent and contamination-free
biologics to cater to the large number of people suffering from target
diseases. Viral safety testing is proving to be one of the primary concerns of
most companies as it is a critical component of chemistry, manufacturing, and control
of biologics. This is creating growth opportunities in the market.
Laboratory-based
contamination is leading to development and refinement of workstations through
incorporation of biological safety products and services. Increasing need to
work with tissue cultures, maintain sterility of cell lines, and minimize
cross-contamination has increased concerns regarding product integrity. Rising
intervention by government healthcare organizations to implement good
manufacturing practices and subsequent testing & control at every
production stage is expected to widen the scope for growth.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/biological-safety-testing-market
https://www.grandviewresearch.com/industry-analysis/biological-safety-testing-market
Further key findings from the study suggest:
- On the basis
of product, reagents and kits accounted for the largest share in 2018 as
they are major components that are extensively used in research and
clinical laboratories
- The
instruments segment, on the other hand, is expected to grow at a lucrative
CAGR during the forecast period due to rising demand from various clinical
and research laboratories
- On the basis
of application, vaccines & therapeutics segment is expected to grow at
a significant CAGR during the forecast period mainly owing to increase in
disease outbreaks over the years
- Bioburden
tests are expected to grow at a lucrative rate during the forecast period
owing to their high adoption to determine bioburden limit in a wide range
of biologics and medical devices
- North
America dominated the global biological safety testing products and
services market in 2018 owing to high R&D investments in biotechnology
and huge chronic disease burden
- Asia Pacific
is expected to grow at an exponential CAGR during the forecast period
owing to increase in healthcare spending
- Some of the
key players are Charles River Laboratories International, Inc.; Lonza
Group AG; MilliporeSigma; SGS SA; Sartorius Stedim BioOutsource Limited;
and BSL Bioservice Scientific Laboratories GmbH.
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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