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(Chicago.CityRegions.Com, June 18, 2020 ) Biologics are pharmaceutical products that are extracted from biological sources. Biologics safety testing is carried out by manufacturers to detect contaminants like bacterial toxins, mycoplasma, and viruses. It is a mandatory process in these companies for the quality control of raw materials as well as for process control and validation of end products.
The global biologics safety testing market is expected to reach USD 4.90 Billion by 2022 from USD 2.75 Billion in 2017, at a CAGR of 12.2% during forecast period.
What Drives the Market?
1. Growth in Pharmaceutical and Biotechnology Industries Driven By Government Support
2. Positive Trend of R&D Investments in Life Science
3. Increase in Number of Drug Launches
4. High Incidence and Large Economic Burden of Chronic Diseases
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The major factors driving the growth of this market are the growth in pharmaceutical & biotechnology industry driven by government support, the positive trend of R&D investment in the life science sector, increasing number of drug launches, and high incidence & large economic burden of chronic diseases. In the coming years, emerging markets and increasing pharmaceutical outsourcing are expected to offer growth opportunities for players in the biologics safety testing market.
The kits & reagents segment is projected to register the highest during the forecast period. The growth of this market segment is driven by repeat purchase of kits and reagents as compared to instruments and increasing adoption of kit-based testing.
The geographical regions mapped in the report are:
1. North America
4. Rest of the World (RoW)
North America is expected to account for the largest share of this market. The strong R&D trend in life sciences and growth in pharmaceutical industries will drive the biologics safety testing market in the North American region.
Some key players mentioned in the research report are:
Lonza Group LTD, Charles River Laboratories, Merck KGaA, SGS SA, WuXi Apptec, Thermo Fisher Scientific Inc, Sartorius AG, Cytovance Biologics, Inc, Pace Analytical Services Inc, and Toxikon Corporation.
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Mr. Aashish Mehra