According to a research report published by Azoth Analytics in March 2021, the Global Biologics Safety Testing market is valued at USD 3.46 billion in the year 2020. Rising healthcare costs associated with aging populations and the growing demand for treatments for complex and chronic disease underpin the secular trends currently fuelling investments in healthcare services, infrastructure, and research globally.
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.
High kits & reagents accounted for the largest share of the market among product type segment. Growth in this market can be attributed to the low cost and easy usage of kits in applications such as gene sequencing, molecular diagnostics, and gene cloning. Additionally, Services will be followed by High kits & reagents and Instruments will also boost the biologics safety testing market in coming years.
Moreover, Vaccine & Therapeutics segment will fuel the global safety testing market Factors such as the rising prevalence of diseases, increasing initiatives for immunization, increasing investments in vaccine development and also rise in infectious disease and stringent regulatory norms sanctioned by health care agencies pertaining to safety and efficacy drive the vaccines therapeutics markets.
Endotoxin tests dominated the biological safety testing products and services market in terms of revenue in 2020. The substantial share can be attributed to the rising usage of these tests in various areas such as the manufacturing and production of drugs to reduce the threat of endotoxins. Moreover, the integration of advanced colorimetric methods and computation has enabled the rapid generation of results and precise bioburden quantification.
The Azoth Analytics research report ‘Global Biologics Safety Testing Market (2021 Edition) has analysed and segmented the Global Biologics Safety Testing by Value (USD Million). The report analyses Biologics Safety Testing Market by Product (High Kits & Reagents, Instruments, Services), By Application (Vaccine & Therapeutics, Blood & Blood Based Products, Gene Therapy, Others) and By Test (Endotoxin Tests, Sterility Tests, Bioburden Tests, Adventitious Agent Detection Tests, Others). The Global Nucleic Acid Isolation and Purification Market has been analysed By Region (North America, Europe, Asia Pacific and ROW) and By Country (United States, Canada, Germany, France, U.K, Italy, China, Japan, India and South Korea) for the historical period of 2016-2020 and the forecast of 2021-2026.
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