Published on : Dec 12, 2017
Albany, New York, December 12, 2017: A new research report highlighting the key factors that are influencing the global biologics safety testing market has been added to the research repository of Market Research Hub (MRH). The report titled “Global Market Study on Biologics Safety Testing: Endotoxin Tests to Witness Surplus Demand during 2017-2022” offers credible insights and analysis on the biologics safety testing market. According to the report, the global biologics safety testing market is likely to grow at a CAGR of 8.8% through 2022 and surpass US$ 4.3 Bn in revenues.
The pharmaceutical industry is one of the most regulated around the globe. There are many testing and clinical trial steps that pharmaceutical manufacturers have to clear before they get approval from regulating authorities. To ensure their products are free from any unwanted ingredients and harmful chemicals, various tests are conducted. Biologics safety testing is one such test that helps in detecting the presence of unwanted ingredients in pharmaceutical products. As focus on quality of healthcare products is witnessing an increase, in both developing and developed countries, adoption of biologics safety testing is witnessing an increase. It is highly likely that biologics safety testing will become a standard procedure even in those settings where it has been ignored or not used till now.
Although the adoption of biologics safety testing products and equipment is growing around the world, North America continues to maintain its dominance globally. North America is home to various research institutions that have taken the lead in developing advanced biologics safety testing products and services. The regulatory bodies that are respected all throughout the globe are also based in North America, and pharmaceutical manufacturers are aware of the importance of developing high-quality drugs. In addition to North America, the demand for biologics safety testing products and services in Europe is also expected to provide growth opportunities to manufacturers.
The focus on boosting healthcare infrastructure is also likely to provide an impetus to the growth of biologics safety testing market in Asia Pacific and Japan (APEJ). Years of sustained growth in the economies has led to the development of a robust sector, which is now competing with the pharmaceutical industry of North America and Europe. On account of growing adherence to regulations and guidelines, the biologics safety testing market in APEJ is likely to witness steady growth during the assessment period. Some of the leading players operating in the biologics safety testing market include Lonza Group Ltd., Thermo Fisher Scientific Inc., Pace Analytical Services Inc., Eurofins Scientific Se, Toxikon Corporation, Wuxi Apptec, BioMerieux SA, Genscript Biotech Corp., SGS S.A., Sigma-Aldrich Corporation (Merck KGaA), and Charles River Laboratories International, Inc.
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