Biological Safety Testing Market to Exceed USD 5.5 Bn, Says Grand View Research in Its New Report Available at MarketPublishers.com

London, United Kingdom, October 29, 2016 --(PR.com)-- Extremely high adoption rate of unhealthy lifestyles has resulted in the high prevalence of chronic diseases like diabetes and cancer, which spurs the increase in drug development and their subsequent commercialization. This is likely to drive the need to investigate and ensure the safety of specialized ad targeted therapies, estimate their outcomes and also to avoid possible shortcomings.

As a result of the high production intensity, biotechnology and pharmaceutical companies are increasingly adopting biological safety testing tools to get highly potent and contamination-free biologics to meet the demand of population suffering from target diseases.

The biological safety testing market is predicted to exhibit robust growth from 2016 to 2024. By 2024, the value of this market is anticipated to go beyond USD 5.5 billion. Top market growth drivers include the rising disease burden, exponential increase in the production of medical devices and biologics (that demand stringent safety requirements), amid other factors. Furthermore, stringent regulations introduced by healthcare organizations worldwide are expected to propel a remarkable uptake of biological safety testing tools, thus spurring expansion of the biological safety testing market.

In the past year, the reagents and kits sector accounted for the biggest share (more than 42%) of the overall biological safety testing market. On the basis of applications, the vaccine and therapeutics sector led the market in the previous year.

North America dominated the world’s biological safety testing market in 2015, accounting for a 36% share. APAC is predicted to see exponential CAGR of more than 13% through 2021.

A comprehensive analysis of the world’s market for biological safety testing is available in the topical research report “Biological Safety Testing Market Analysis By Product, By Application, By Test, And Segment Forecasts To 2024” prepared by Grand View Research, Inc. and recently added at MarketPublishers.com. To get the report follow to https://marketpublishers.com/report/life_sciences/healthcare/biological-safety-testing-market-analysis-by-product-reagents-kits-instruments-services-by-application-stem-cell-tissue-tissue-based-products.html.