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Will the Biological Safety Testing Products and Services market grow in the upcoming years?

09-28-2021 11:53 AM CET | Health & Medicine

Press release from: StraitsResearch

Biological Safety Testing Products and Services market

Biological Safety Testing Products and Services market

The biological safety testing products and services market size was valued at USD 2.93 billion in 2019 and is anticipated to grow with a CAGR of 12.29%.

Biological safety testing is conducted to ensure that biopharmaceutical products such as therapeutics, drugs, blood, and blood-derived products, vaccines, stem cells, and tissue banks are contamination-free. The biological safety testing products include a set of assays using preclinical and clinical vector products. These products must undergo preclinical testing reviewed by the Food and Drug Administration (FDA) to ensure optimum safety.

The rising number of drug approvals by the USFDA accelerates market growth. The Center for Drug Evaluation and Research (CDER), in 2018, approved more than 50 novel drugs and biologics. In 2019, the FDA approved ‘Balversa’ (Erdafitinib) tablet for the treatment of metastatic bladder cancer. The FDA also approved the ‘Therascreen FGFR RGQ-PCR Kit,’ used for therapeutic indication. Apart from this, the growing focus of pharmaceutical manufacturing companies to avoid transmission and maximize drug safety drives the adoption of biological safety testing instruments.

The COVID-19 outbreak is rising the need for vaccines across the globe. As of July 2019, the Association of British Pharmaceutical Industry (ABPI) announced that there are more than 260 vaccines in the pipeline for the treatment and prevention of various infectious diseases. Several research institutes are providing affordable third part services for maintaining the quality and efficiency of drug manufacturing.

Get a Sample Copy of this report with the latest Industry trends and COVID-19 Impact: 
https://straitsresearch.com/report/biological-safety-testing-products-and-services-market/request-sample

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,

View this report with a detailed description and TOC @ https://straitsresearch.com/report/biological-safety-testing-products-and-services-market/toc

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Biological Safety Testing Products and Services in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Biological Safety Testing Products and Services market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Biological Safety Testing Products and Services and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Biological Safety Testing Products and Services. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

View Full Report @ 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. 

The Indian Council of Medical Research (ICMR) enabled subsidized tests due to National Public Health Emergency. The market players are supplying their diagnostic test kits to the private labs to make test operations feasible. The ICMR instructed the laboratories to undertake appropriate biosafety and biosecurity precautions while collecting samples. For biological safety testing, ICMR has urged the laboratories and hospitals to create a separate disease-specific sample collection site.

Key Questions Answered in the Report:
What is the current scenario of the Global Biological Safety Testing Products and Services market? How is the market going to prosper throughout the forecast period?
What are the emerging technologies and related tools that are going to profit the market?
What is the current size of the Global Biological Safety Testing Products and Services Market?
Which segments are the fastest growing and the largest in the market? What is their market potential?
What are the driving factors contributing to market growth during the short, medium, and long term?

Buy Full Report with Detail Analysis with COVID-19 Impact – https://straitsresearch.com/buy-now/biological-safety-testing-products-and-services-market/global/

For more details, please contact us -
Straits Research
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY 10022
Tel: +1 646 480 7505, +44 208 068 9665
Website: https://straitsresearch.com/

About Us:
Regardless of whether you're looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with what customers purchase. We overcome the issues of our customers by recognizing and deciphering just the target group, while simultaneously generating leads with the highest precision. We seek to collaborate with our customers to deliver a broad spectrum of results through a blend of market and business research approaches. This approach of using various research and analysis strategies enable us to determine greater insights by eliminating the research costs.

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