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Biological Safety Testing Market to reflect impressive growth rate by 2024
Biological Safety Testing Market
Read Report Overview - https://www.transparencymarketresearch.com/biological-safety-testing-market.html
According to the research report, the global biological safety testing market was worth US$1.31 bn in 2015. Expanding at a CAGR of 10.0% during the period from 2016 to 2024, the market is projected to reach US$3.08 bn by the end of the forecast period. Biological safety testing instruments is witnessing significant rise and is expected to dominate the global market in the years to come, states the research report.
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North America to Continue on Top
In terms of the geography, the global market for biological safety testing has been segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe in this research study. Among these, the North America market has acquired the dominance, owing to the presence of a large pool of players in this region. This regional market is anticipated to remain on the top over the next few years. Asia Pacific and Europe are also expected to witness a significant rise in the years to come, states the research report.
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Growth in Pharmaceutical and Biotechnology Industry to Boost Market
"The global market for biological safety testing is set to witness exponential growth in the years to come, thanks to the increase in the pharmaceutical and the biotechnology industry," says an analyst at TMR. Apart from this, the constant increase in the geriatric population, rise in prevalence of cancer, and the augmenting awareness towards health in emerging economies are also expected to support the growth of this market in the years to come, reports the study.
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The review is based on a report by Transparency Market Research, titled "Biological Safety Testing Market (Product Type - Instruments and Reagents & Kits; Test - Endotoxin Tests, Sterility Test, Cell Line Authentication and Characterization Tests, Bioburden Tests, Residual Host Contaminant Detection Tests, Adventitious Agent Detection Tests, Toxicity Tests, and Stability Tests; Application - Vaccines & Therapeutics, Blood & Blood Products, Tissue & Tissue Products, Stem Cell Products, Gene Therapy, and Cellular Therapy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
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