Biologics Safety Testing Market Worth $7.2 billion | MarketsandMarkets™
CHICAGO, May 13, 2024 /PRNewswire/ — Biologics Safety Testing Market in terms of revenue was estimated to be worth $4.2 billion in 2024 and is poised to reach $7.2 billion by 2029, growing at a CAGR of 11.1% from 2024 to 2029 according to a new report by MarketsandMarkets™.
Some factors contributing to the growth of the global market includes increasing R&D investments fundings in biopharmaceutical industry, growing development of biologics, stringent regulatory requirements for biologics safety testing, and increasing number of strategic alliances for the development of novel therapeutics. However, ethical concern regarding animal testing is expected to hinder market growth.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=34624144
Browse in-depth TOC on “Biologics Safety Testing Market”
435 – Tables
64 – Figures
404 – Pages
Biologics Safety Testing Market Scope:
Report Coverage
Details
Market Revenue in 2024
$4.2 billion
Estimated Value by 2029
$7.2 billion
Growth Rate
Poised to grow at a CAGR of 11.1%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & Service, Test Type, Application, and End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Increasing focus on next generation therapeutics
Key Market Drivers
Increasing development of mAbs and biosimilars
The services segment accounted for the largest share of the product & service segment in the biologics safety testing market in 2023.
Based on product & service, the biologics safety testing market is segmented into services, consumables, and instrument. Services segment is further divided into endotoxin testing services, mycoplasma testing services, sterility testing services, bioburden testing services, virus safety testing services, and other testing services. Services segment dominated the market in 2023 and is expected to dominate the market in the forecast period. The largest share of the segment is attributed to surge in outsourcing of biologics safety testing services by biopharmaceutical companies.
The pharmaceutical & biotechnology companies segment is estimated to register the highest growth rate during the forecast period in the biologics safety testing market.
Based on end user, the biologics safety testing market is segmented into pharmaceutical & biotechnology companies, CROs and CDMOs, and academic and research institutes. The pharmaceutical & biotechnology companies segment is estimated to register the highest growth rate during the forecast period. The rising demand for biopharmaceuticals such as vaccine and monoclonal antibodies due to increasing incidence of chronic diseases is anticipated to promote the growth of pharmaceutical & biotechnology companies segment in coming years.
The Asia Pacific region is the fastest-growing region of the biologics safety testing market in 2023.
Based on the region, the biologics safety testing market is segmented into six major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register fastest growth in the biologics safety testing market owing to the increasing focus on development of advanced therapies such as cell and gene therapies, high government investments & fundings for R&D, and booming biotechnology industries.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=34624144
Biologics Safety Testing Market Dynamics:
Drivers:
Increasing development of mAbs and biosimilars
Restraints:
Ethical concern related to animal testing
Opportunities:
Increasing focus on next generation therapeutics
Challenge:
Challenges related to biologics complexity and heterogenicity
Key Market Players of Biologics Safety Testing Industry:
Key players in the biologics safety testing market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Lonza (Switzerland), FUJIFILM Corporation (Japan), Sartorius AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Charles River Laboratories (US), BIOMÉRIEUX (France), Maravai LifeSciences (US), WuXi AppTec (China), SGS Société Générale de Surveillance SA. (Switzerland), Sotera Health (Nelson Laboratories, LLC) (US), Samsung Biologics (South Korea), GenScript (US), Agilent Technologies, Inc. (US), Syngene International Limited (India), Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Promega Corporation (US), Catalent, Inc (US), ASSOCIATES OF CAPE COD, INC. (US), Pacific BioLabs (US), Clean Biologics (France), PathoQuest (France), ARL Bio Pharma, Inc. (US), Frontage Labs (US), Creative Biogene (US), Advaxia Biologics (Italy).
The primary interviews conducted for this report can be categorized as follows:
By Respondent: Supply Side- 60% and Demand Side 40%By Designation: Managers – 45%, CXO & Directors – 30%, and Executives – 25%By Region: North America – 40%, Europe -25%, Asia-Pacific -25%, Latin America -5% and Middle East & Africa– 5%
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=34624144
Recent Developments of Biologics Safety Testing Industry:
In January 2024, Chales River Laboratories launched Endosafe Trillium rCR cartridge, a new animal-free testing solution for robust bacterial endotoxin testing.In November 2023, Merck KGaA has developed biosafety testing laboratories in Shanghai, China. The facility aims to enable the clients to locally access a broad range of testing services for cell line characterization and lot release from pre-clinical development to commercialization.In March 2023, LabCorp collaborated with Forge Biologics for gene therapy development and manufacturing. Under this partnership gene therapy clients will have access to drug development services, manufacturing capabilities, scientific expertise, for adeno-associated virus (AAV) mediated gene therapy programs.
Biologics Safety Testing Market – Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing the closest approximations of the revenue numbers for the overall biologics safety testing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to position their business better and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Analysis of key drivers (growing development of mAbs and biosimilars, rising investments and fundings in biopharmaceutical industry, and stringent regulatory guidelines for biologics safety), restraints (ethical concern regarding animal testing), opportunities (growing opportunities in emerging economies, increasing focus on next generation therapeutics), and Challenges (high cost of biologics) influencing the growth of the market.Product Development/Innovation: Detailed insights on newly launched products of the biologics safety testing marketMarket Development: Comprehensive information about lucrative markets – the report analyses the market across varied regions.Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the biologics safety testing market.Competitive Assessment: Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Lonza (Switzerland), FUJIFILM Corporation (Japan), Sartorius AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Charles River Laboratories (US), BIOMÉRIEUX (France), Maravai LifeSciences (US), WuXi AppTec (China), SGS Société Générale de Surveillance SA. (Switzerland), Sotera Health (Nelson Laboratories, LLC) (US), Samsung Biologics (South Korea), GenScript (US), Agilent Technologies, Inc. (US), Syngene International Limited (India), Eurofins Scientific (Luxembourg), Laboratory Corporation of America Holdings (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Promega Corporation (US), Catalent, Inc (US), ASSOCIATES OF CAPE COD, INC. (US), Pacific BioLabs (US), Clean Biologics (France), PathoQuest (France), ARL Bio Pharma, Inc. (US), Frontage Labs (US), Creative Biogene (US), Advaxia Biologics (Italy), among others in the market.
Related Reports:
Sterility Testing Market – Global Forecasts to 2028
Single Use Bioreactors Market – Global Forecasts to 2028
Blood Screening Market – Global Forecasts to 2028
Molecular Diagnostics Market – Global Forecasts to 2028
Biological Safety Cabinet Market – Global Forecasts to 2027
Get access to the latest updates on Biologics Safety Testing Companies and Biologics Safety Testing Market Share
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/biologics-safety-testing-market-worth-7-2-billion–marketsandmarkets-302143381.html