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.
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.
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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.
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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.
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