The report "Biologics Safety Testing Market by Product & Service (Consumables, Instrument, Services), Test Type (Mycoplasma, Sterility, Endotoxin, Bioburden, Virus Safety), Application (Vaccines, mAbs, Cell & Gene Therapy, Blood Products) - Global Forecast to 2029", is projected to reach USD 7.2 billion by 2029 from an estimated USD 4.2 billion in 2024, at a CAGR of 11.1% during the forecast period of 2024 to 2029. 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.
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Browse 435 market data Tables and 64 Figures spread through 404 Pages and in-depth TOC on "Biologics Safety Testing Market by Product & Service (Consumables, Instrument, Services), Test Type (Mycoplasma, Sterility, Endotoxin, Bioburden, Virus Safety), Application (Vaccines, mAbs, Cell & Gene Therapy, Blood Products) - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/biologics-safety-testing-market-34624144.html
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.
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).
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