Biologics Safety Testing Market worth $6.2 billion by 2026 – Rising Biopharmaceuticals R&D Activities and Investments

PUNE, India, 2021-Aug-10 — /EPR Network/ —

The Key Growth Elements in Detailed?

The Growth of Global Biologics Safety Testing Market is driven by factors such as the growth in the biologics and biosimilars markets, growing concerns over cell culture contamination, and rising biopharmaceuticals R&D activities and investments. In addition, emerging markets and increasing biopharmaceutical outsourcing are expected to provide significant growth opportunities for players in the Biologics testing market.

Worldwide Growth Opportunities in Terms of Revenue:

The Global Biologics Safety Testing Market is projected to reach USD 6.2 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 12.4% during the forecast period.

Major Key Drivers: Growth in the biosimilars and biologics markets;

Many companies are investing heavily in the development of biologics and biosimilars. Currently, more than half of the drug candidates in the discovery stage are biologics, such as proteins, peptides, and monoclonal antibodies. Biologics are expected to contribute around half of the revenue generated by the top 100 pharmaceutical products in the coming years.

According to the FDA, the number of new biologics approved in the US increased from 22 in 2016 to 48 in 2019. Growing investments by biopharmaceutical companies in order to develop biologics and biosimilars are further expected to increase the number of approved products worldwide.

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Regional Growth, Development and Demand Analysis:

North America accounted for the largest share of the biologics safety testing market in 2020. Rapid growth in the biopharmaceutical industry is the major factor driving the growth of the North American biologics testing market. Growing academic and government investments, rising demand for high-quality research tools for data reproducibility, increasing awareness among consumers about product safety, and the presence of major market players in this region are also driving the market for biologics safety testing in North America.

Major Key Players Mentioned in the research report are:

Prominent players in the biologics safety testing market are Charles River Laboratories, Inc. (US), Lonza (Switzerland), Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), SGS SA (Switzerland), WuXi AppTec (China), and Eurofins Scientific (Luxembourg). The key players in this market are focusing on strategic expansions, partnerships, and product launches and approvals to expand their presence in the market.

Charles River is one of the key players in the biologics safety testing market, it is a service and early-stage contract research organization (CRO). The company develops a diverse portfolio of discovery and safety assessment services and provides a suite of products and services to support its clients’ manufacturing activities. The company operates through three reporting segments, namely, Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing). The company offers biologics safety testing solutions through its Manufacturing segment.

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