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Biological Safety Testing Market is Expected to Reach US$ 3.08 Billion by the End of 2024

, 13 April 2018 -- Biological Safety Testing Market report categorizes the global market by Product Type (Instruments and Reagents & Kits), Test (Endotoxin Tests, Sterility Test, Bioburden Tests), Application, End User & Geography

A recent market intelligent study by Transparency Market Research has detected that the competition in global biological safety testing market is moderate, a pattern that will continue in the near future too, on the account of similarity of the products offered by the different vendors. The lack of diverse products also hinders the players to device effective marketing strategies to gain ground over their competitors. In this scenario, the TMR report suggests that the China-based vendors will have an advantage over the competitors in the global biological safety testing market, as the country offers low cost skilled labor and a robust manufacturing infrastructure. 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.

Request for Sample Copy of Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18578

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.

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.

Read Report Overview @ https://globenewswire.com/news-release/2018/02/20/1361696/0/en/Biological-Safety-Testing-Market-will-expand-at-a-CAGR-of-10-0-by-2024-globally-Transparency-Market-Research.html

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.

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.

Enquiry for discount on this report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=18578

Growth of the pharmaceutical and biotechnology industries as a result of government support, increased investment in research and developments in the field of life sciences, growing number of drug launches, and the prevalence of several chronic diseases are some of the key factors driving the demand in the global biological safety testing market. On the other hand, the lack of skilled professionals is hindering the market from attaining its full potential. Nevertheless, emerging economies and rapidly increasing pharmaceutical outsourcing will open new opportunities for the vendors operating in this market.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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Submitted by hawer on Friday, 13 April 2018 at 5:51 PM
Category: Health Care & Medical
 
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