Dublin, June 24, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global biologics safety testing 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.
"By product segment, the service segment accounted for the largest share of the Biologics Safety Testing market"
Based on product and service, the biologics safety testing market is segmented into consumables, services, and instruments. In 2020, the services segment accounted for the largest market share. The large share of this segment can be attributed to the limited finances of biopharmaceutical manufacturers, capacity constraints, need for reduction in the time to market, complex manufacturing requirements, large investments required for establishing manufacturing facilities, and the increasing drugs pipeline, all of which have prompted the shift towards the outsourcing of biologics safety testing to service providers.
"By application, the monoclonal antibodies manufacturing segment accounted for the largest market share of the Biologics safety testing market "
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.
"Asia Pacific: The fastest-growing region in the Biologics Safety Testing Market"
The Biologics Safety Testing Market in the Asia Pacific region is projected to register the highest growth during the forecast period. Factors such as growing R&D funding, rising product availability, lower outsourcing costs, increasing research activities, increasing applications of oligos in molecular diagnostics & therapeutics, and the rising awareness of oligonucleotides are expected to drive market growth.
"North America accounted for the largest share of the Biologics safety testing market in 2020"
North America accounted for the largest share of the biologics safety testing market in 2020. Rapid growth in the biopharmaceutical industry is the major factor driving the growth of the North American biologics safety testing market. Growing academic and government investments, rising demand for high-quality research tools for data reproducibility, increasing awareness among consumers about product safety, and the presence of major market players in this region are also driving the market for biologics safety testing in North America.
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).
Biologics Safety Testing Market Overview: Growth in the Biologics and Biosimilars Markets to Drive Market Growth
North America: Biologics Safety Testing Market, by Application and Country (2020): Monoclonal Antibodies Manufacturing Segment Accounted for the Largest Share of the North American Market in 2020
Biologics Safety Testing Market, by Test Type: Residual Host-Cell Proteins & Dna Detection Tests Segment to Register the Highest CAGR During the Forecast Period
Growth in the Biosimilars and Biologics Markets
Growing Concerns Over Cell Culture Contamination
Rising Biopharmaceuticals R&D Activities and Investments
Emerging Markets Offer Lucrative Opportunities
Increasing Biopharmaceutical Outsourcing
Dearth of Skilled Professionals
Impact of COVID-19 on the Biologics Safety Testing Market
Value Chain Analysis
Ecosystem Analysis of the Biologics Safety Testing Market
Porter's Five Forces Analysis
Charles River Laboratories, Inc.
Thermo Fisher Scientific, Inc.
Associates of Cape Cod, Inc.
Roche Diagnostics (A Division of F. Hoffman-La Roche Ltd.)
Nelson Laboratories, LLC (A Part of Sotera Health)
Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
Microcoat Biotechnologie Gmbh
Accugen Laboratories, Inc.
Fujifilm Wako Pure Chemical Corporation
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