The global biological safety testing market is accounted for more than US$ 3.0 Bn in the year 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Biological Safety Testing Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global Biological Safety Testing Market, By Product (Reagents and Kits, Instruments, Other Products), By Application (Vaccines & Therapeutics, Blood & Blood-based Products, Gene Therapy, Tissue & Tissue-based Products, Stem Cell), By Test Type (Endotoxin Tests, Sterility Tests, Cell Line Authentication & Characterization Tests, Bioburden Tests, Adventitious Agent Detection Tests, Residual Host Contamination Detection Tests, Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In 2019, the global biological safety testing market is accounted for more than US$ 3.0 Bn and expected to grow at a significant CAGR of 10.4% during the forecast period and expected to reach to the value of US$ XXX Bn in 2025.
As per the report, the rise in emphasis on better treatment and care for patients across the world has led the way of administrative and supervisory bodies towards enforcing crucial regulations and standards for biological safety to assure patient’s security, which has driven the growth of the global biological safety testing market extensively.
More than that, the pharmaceutical industry has been wholly transformed over the last decade that aims its attention at providing advanced solutions for the chronic diseases, which in turn stimulated the development of therapeutic advanced drugs. Owing to which, the global biological safety testing market is projected to witness a hike in its growth in the near future.
Basically, biologics are products made from living organisms and have an exclusive bunch of characteristics. In order to establish the security and non-contamination of medications or vaccines as well as to abide by the regulations established by authorities, the biological safety testing is done. Few of the leading biological tests are residual host contaminant detection tests, endotoxin tests.
Bioburden testing and sterility testing. Strikingly, the upsurge in the count of biological and pharmaceutical laboratories and firms across the globe is also promoting the utility of biologics, thereby it is expected to boost the growth of the global biological safety testing market in the forthcoming future.
Likewise, the biological safety testing promotes its applicability into various applications such as vaccine and gene therapy products, cellular, blood and blood products, tissue and tissue products, and others. Considering the fact that each and every authorized and certified medication and vaccination is required to pass numerous safety testing, including the evaluation and examining of the medication, before it is approved by the Food and Drug Administration (FDA) and sanctioned for usage by the Centers for Disease Control and Prevention (CDC), the biological safety testing plays an essential role in safety testing of vaccination.
Attributing to which, the global biological safety testing market is projected to set going during the forecast period. Furthermore, few factors like rise in funding for further R&D activities in the field of life sciences, ever-increasing count of chronic diseases and growth in number of drug launches are also expected to drive the growth of the global biological safety testing market in the coming years.
MMC study identifies some of the key participating players in the biological safety testing globally are Eurofins Scientific, Merck KGaA, Thermo Fisher Scientific, Esco, and Wuxi Biologics, among several others.
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