The report on the Global Biological Safety Cabinet Market provides at the close goings-on and shakeups caused by COVID-19 pandemic. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the market and offers suggestions objectively based on conditions of the market. The customized versions of the market report contain strategies according to region and country as per the request of the user.
Biological Safety Cabinet Market Analysis
The global biologics safety testing market report is predicted to expand at a 13.6% CAGR between 2018-2023, reveals the new Market Research Future (MRFR) report. Biological safety testing is conducted to ensure both the non-contamination and safety of biopharmaceuticals and vaccines and also comply with its regulations. Bioburden tests, adventitious agent detection tests, residual host contamination detection tests, cell line authentication & characterization tests, endotoxin tests, sterility tests, and others are some major biological tests. It is used in stem cell research, tissue & tissue-related products testing, cellular & gene therapy, blood & blood-related products testing, and vaccine & therapeutics development.
Numerous factors are adding to the global biologics safety testing market growth. Such factors, as revealed by the recent MRFR report, include growing demand for biological products, growing biotech and pharmaceutical industry, rising number of innovative drug launches, and high prevalence and huge economic burden of various chronic diseases. Increasing research and development investment in life science and favorable government support are also adding market growth.
On the contrary, high investment costs related to biological safety cabinets, time-consuming approval process, stringent government regulations, and scarcity of skilled professionals to conduct biological safety testing are factors that may limit the biologics safety testing market growth during the forecast period.
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Biological Safety Cabinet Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the biologics safety testing market based on application, test type, and product.
By product, the biologics safety testing market is segmented into instruments, services, and kits & reagents. Of these, kits and reagents will lead the market over the forecast period.
By test type, the biologics safety testing market is segmented into bioburden tests, adventitious agent detection tests, residual host contamination detection tests, cell line authentication & characterization tests, endotoxin tests, sterility tests, and others. Of these, endotoxin tests will dominate the market over the forecast period for increasing drug launches and rising disease prevalence. This testing is used in drug development, gene therapy, vaccine testing, monoclonal antibody testing, and cell therapy.
By application, the biologics safety testing market has been segmented into stem cell research, tissue & tissue-related products testing, cellular & gene therapy, blood & blood-related products testing, and vaccine & therapeutics development. Of these, vaccine & therapeutics development will have a major share in the market over the forecast period for rising company investments to develop vaccines, growing initiatives for immunization, and increasing prevalence of diseases.
Biological Safety Cabinet Market Regional Analysis
By region, the biologics safety testing market covers the growth opportunities and recent trends across Europe, the Americas, the Middle East & Africa (MEA), and the Asia Pacific (APAC). Of these, the Americas will command the largest share in the market over the forecast period. Factors adding to the biologics safety testing market growth in the region include growing demand for biological products, new product launches, presence of well-established players, and growing pharmaceutical and biotechnology industries. Additional factors adding market growth include favorable government initiatives, rising R&D spending, and advanced healthcare infrastructure.
The global biologics safety testing market in Europe is predicted to hold the second-largest share during the forecast period for the growing biotech and pharma industry.
The biologics safety testing market in the APAC region is predicted to grow at a quick pace during the forecast period for the burgeoning demand for biologics products.
The biologics safety testing market in the MEA will have a small share over the forecast period. The Middle East will have major share for the presence of a well-established healthcare sector.
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Biological Safety Cabinet Market Key Players
Leading players profiled in the global biologics safety testing market report include Eurofins Scientific, Avance Biosciences Inc., Cytovance Biologics, Inc., Wuxi Apptec, Thermo Fisher Scientific Inc, SGS S.A., Lonza Group Ltd., Sartorius AG, Charles River Laboratories, and Merck KGaA.