The biologics safety testing market was valued at USD 2.75 Billion in 2017 and is expected to grow at a CAGR of 12.2% to reach USD 4.90 Billion in 2022.
Growth in pharmaceutical and biotechnology industry driven by government support in both industries, the positive trend of R&D investment in the life sciences industry and an increase in the number of new drug launches are the major factors driving the growth of this market.
The overall market size was used in the top-down approach to estimate the sizes of other individual markets (mentioned in the market segmentation—by product & service, test type, application, and region) through percentage splits from secondary and primary research.
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Biologics Safety Testing Market segmentation
• By Product & Service
• By Test Type
• By Application
• By Region
The Major Players Operating in the Biologics Safety Testing Market
Key players operating in the biologics safety testing market include Lonza Group LTD. (Switzerland), Charles River Laboratories (U.S.), Merck KGaA (Germany), SGS SA (Switzerland), WuXi Apptec (China), Thermo Fisher Scientific Inc. (U.S.), Sartorius AG (Germany), Cytovance Biologics, Inc. (U.S.), Pace Analytical Services Inc. (U.S.), and Toxikon Corporation (U.S.).
Geographical Detailed Analysis for Biologics Safety Testing Market:
By region, the global biologics safety testing market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). While North America holds the largest share of the market in 2016, Asia is expected to grow at the highest CAGR during the forecast period. The presence of emerging economies like China and India; large population; growth in pharmaceutical and biotechnology industry; and growth in the outsourcing industry in this region are key factors driving the high growth of this regional segment.
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