Global Safety testing - Biological, Industry - Global Market 2016, Trend, Demand, Forecast 2025, Analysis

"Global Safety testing - Biological Market - By Regions and Vendors - Market Size, Demand Forecasts, Industry Trends and Updates, Supplier Market Shares (2014 - 2020)" The Report covers current Market Trends, Analysis, Forecast, Review, Share, Size, Growth, Effect.

Description-

Pharmaceutical / Bio technology industry is more concerned over safety of the product, be it in terms of efficacy of the drug, packaging of the product, delivering the product to the customer and others. In all these cases, it is very much important to ensure that the product is safe for the usage. As such, testing place a key role in ensuring the safety of the product.

Supply – Demand Scenario:

The global Safety testing for Biologics market was worth $1.76 billion in 2014 and is projected to reach $3.51 billion in 2020, at a compound annual growth rate of 12.23%.

North America leads the global Biological Safety packaging market with a share of 37.5% in 2014 followed by Europe with 31% of the market share during the same period. On the other hand, Kits and reagents has a market share of 43% while Instruments has a market share of 20%, based on product type. In emerging countries like India, the government is focusing on increasing the growth of biotechnology industry by investing $5 billion every year for the next 5 years starting from 2015.

Drivers vs. Constraints:

The growth in the end use industries (Pharmaceutical, Biotechnology) are driving this market, Added to this, factors like new innovations in the Biotechnology industry , new drug developments, increased focus on R&D are increasing the growth of safety testing market. Also, government regulations on the quality of the product is also driving the market.