Press release
Massive Growth of Biological Safety Testing Products and Services Market by 2029 | Key Players, Charles River Laboratories, Lonza Group, etc.
Biological Safety Testing Products and Services Market
The market for biological safety testing products and services was valued at USD 2.93 billion in 2019 and is anticipated to grow with a CAGR of 12.29%. The end-users of the biological safety testing products & services include pharmaceutical and biotechnology companies, contract development, and manufacturing organizations. Developing countries such as India and China are heavily investing in healthcare infrastructure and research laboratories. Research laboratories offer extensive drug discovery and cell line development and culture capacities that require biologics safety testing to develop pathogen-free products and reliable services.
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The Major Players Covered in this Report: Charles River Laboratories, Lonza Group, MilliporeSigma, Merck, Sartorius Stedim, BioOutsource Limited,, & more...
By Product, Test kits and reagents, Instruments, Services By Application, Blood and blood-based products, Vaccines and therapeutics, Stem cells By Test, Endotoxin test, Sterility test, Adventitious agent and virus testing,
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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Biological Safety Testing Products and Services in the APAC Region:
The Asia-Pacific region is anticipated to hold the largest market share in the global Biological Safety Testing Products and Services market during 2020-2029.
Full Report Link @ https://straitsresearch.com/report/biological-safety-testing-products-and-services-market/
Impact of COVID-19:
The COVID-19 has severely impacted the world, with the death toll rising at a concerning rate every day. As per the Center for Disease Control and Prevention (CDC), new laboratory tests have been introduced to identify the COVID-19 specimens, which is further accelerating market growth. The state and local public health departments are actively working to collect the specimens, which is further driving the demand for biological safety testing kits. The World Health Organization (WHO) recommended the use of new point-of-care immunodiagnostic tests in research settings.
Key Highlights:
Ø The biological safety testing products and services market is expected to reach USD 2.93 billion by 2029 with a CAGR of 12.29%.
Ø Asia-Pacific’s biological safety testing products and services market is projected to grow with a lucrative CAGR of 14% during the forecast period. Rising healthcare spending and increasing awareness about biological safety testing products drive regional market growth.
Ø The kits and reagent segment to hold the largest market share
Ø The vaccines and therapeutics segment is projected to grow at a significant rate
Ø By instrument, the biological safety cabinets segment holds the highest market share in the biological safety testing products & services market. The cabinets offer superior productivity, aids in optimizing microbial contamination control.
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