Market Research Report
Global Biological safety testing Market Size study with COVID-19 impact, by Product & service, by Test type, by application and Regional Forecasts 2020-2027
|Published by||Bizwit Research & Consulting LLP||Product code||943625|
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|Global Biological safety testing Market Size study with COVID-19 impact, by Product & service, by Test type, by application and Regional Forecasts 2020-2027|
|Published: June 5, 2020||Content info:||
Global Biological safety testing Market Size study with COVID-19 impact, by Product & service (Kits & reagents, services, and instruments), by Test type (Endotoxin tests, sterility tests, Cell line authentication and characterization tests, bioburden tests and others), by application (Vaccine & Therapeutics Development, Blood and Blood-Related Products Testing, Cellular and Gene Therapy, Tissue and Tissue-Related Products Testing and Stem Cell Research) and Regional Forecasts 2020-2027.
Global Biological safety testing Market is valued approximately USD 3.40 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.40% over the forecast period 2020-2027. Biologics are termed as those products which obtained from living organism and has a differentiate set of properties. The biologics need extreme safety from contamination therefore biological safety testing is incorporate timely to ensure its safety quality and non-contamination of vaccines & biopharmaceuticals, along with comply with the certain regulations applicable on it. Some of the major biological tests are sterility testing, bioburden testing, residual host contaminant detection tests and endotoxin tests which is used in tissue and tissue products, cellular, vaccine and gene therapy products, blood and blood products and others. The global spread of COVID-19 affects favorable towards the market growth. A significant number of suppliers belongs from biotech firms are investigating about Sars-Cov-2 genome and prepare a viable vaccine for the same. Also, biotech organizations are investigating SARs-Cov-2 at an unprecedented rate and apparently investing certain among of fund on its R&D which is propelling the market growth in global pandemic of COVID-19. Moreover, favorable government support to life science industries is creating a significant demand for biological safety testing to ensure safety quality and contaminations of vaccines used in pharmaceutical industries. For example: As per UK government, a fund of about USD 1.12 million was sanctioned in 2019 for life science innovation scheme to support research institutes in finding cure of chronic diseases. Also, in 2019, McKinsey & Co and stakeholders which are research based pharmaceutical companies collaborated representing Indian Pharmaceutical Alliance (IPA) to accelerate growth of life science in India. However, dearth of skilled professionals is the factor hampering the growth of market over the forecast years.
The regional analysis of global Biological safety testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in healthcare expenditure in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing favorable government regulations regarding life science industries would create lucrative growth prospects for the Biological safety testing market across Asia-Pacific region.
Major market player included in this report are:
Charles River Laboratories International, Inc.
Lonza Group LTD.
Thermo Fisher Scientific Inc.
Pace Analytical Services Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product & service:
Kits & Reagents
By Test type:
Cell Line Authentication and Characterization Tests
Vaccine & Therapeutics Development
Blood and Blood-Related Products Testing
Cellular and Gene Therapy
Tissue and Tissue-Related Products Testing
Stem Cell Research
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global Biological safety testing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers