According to the analyst of the report, lenient government regulations is another key aspect that is keeping China at the forefront of focus by the leading vendors for their business.
Albany, NY -- (SBWIRE) -- 12/15/2017 -- As per the estimations of the TMR report, the global market for biological safety testing will be worth US$3.08 bn by the end of 2024, expanding robustly at a CAGR of 10.0% during the forecast period of 2016 to 2024, significantly up from its evaluated worth of US$1.31 bn in 2015. The report rates Thermo Fisher Scientific, Inc., Merck KGaA, Charles River Laboratories International, Inc., Lonza Group, and Wuxi Pharma Tech (Cayman), Inc. as the top five companies currently operating in the global biological safety testing market, accounting for 71% of the global shares in 2015, which makes it a highly consolidated environment. In the near future, mergers and acquisition of promising new entrants is expected to help these market leaders to gain ground over their competitors.
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The Global Biological Safety Testing Market is segmented on the basis of expression system, product type, Geography, Application and region
The global biological safety testing market is divided into: by product, by test type, by application and by geography. Product type segment of tissue market was divided into instruments and reagents & kits. On the basis of test type the biological safety testing market is classified as Endotoxin Tests, Sterility Tests, Cell Line Authentication and Characterization Tests, Bioburden Tests, Residual Host Contaminant Detection Tests, Adventitious Agent Detection Tests, Other Tests (Toxicity tests, Stability tests, etc.). On the basis of application the biological safety testing market is classified as Vaccines & Therapeutics, Blood & Blood Products, Tissue & Tissue Products, Stem Cell Products, Gene Therapy, and Cellular Therapy. Vaccines & Therapeutics and Blood & Blood Products.
Product-wise, the report segments the global biological safety testing market into instruments and reagent and kits. In 2015, the instruments segment, which is further sub-segmented into biological safety cabinet of class I, II, and III, autoclaves, and laboratory centrifuges, accounted for 29.2% of the demand. However, this segment is anticipated for a moderate growth rate, while reagents and kits segment will prosper quickly, gaining traction from the growing popularity of new technologies and the advent of new instruments currently developed by various companies such as Charles River Laboratories International, Inc. and Thermo Fisher Scientific.
Application-wise, the TMR report categorizes the global biological safety testing market into vaccines and therapeutics, tissue and tissue products, blood and blood products, gene therapy, term cell products, and cellular therapy, and identifies vaccines and therapeutics segment as most profitable, accounting for little less than a third of the global demand.
Geographically, the biological safety testing market has been segmented into five regions: North America, Europe, Asia Pacific, Europe, Middle East & Africa (MEA), and Latin America. Each regional market for biological safety testing market has been further categorized into major product, applications, material, and end-user segments considered within the scope of the study. Key country (U.S., Canada, Japan, Germany, France, U.K., Australia, Canada, China, Brazil, Mexico, India, etc.) market revenues have also been provided in different regional sections within the report. Market revenue in terms of US$ Mn and volume in terms of units for the period from 2014 to 2025 along with CAGR % from 2016 to 2025 are provided for all the regions and nations considering 2016 as the base year.
In 2015, North America was the most profitable region, serving 42.2% out of the global demand, followed by Europe. However, the presence of emerging economies such as India and China is expected to turn Asia Pacific as a highly lucrative region towards the end of the forecast period. Both these countries have a flourishing pharmaceutical and biotechnology industries, and various companies are outsourcing their research and development activities to this region.
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Summary of Table of Content
Preface
Assumptions and Research Methodology
Executive Summary
Market Overview
Market Dynamics
Global Biological Safety Testing Market Analysis, by Product Type
Biological Safety Testing Market Analysis, by Test Type
Biological Safety Testing Market Analysis, by Test Type
North America Biological Safety Testing Market Analysis
Europe Biological Safety Testing Market Analysis
Asia Pacific Biological Safety Testing Market Analysis
Latin America Biological Safety Testing Market Analysis
Middle East & Africa Biological Safety Testing Market Analysis
Competition Landscape
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