According to the business intelligence report titled ‘Global Biologics Safety Testing Market - Analysis By Product, Test, Application, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with Market Study Report, global biologics safety testing market amassed USD 3463.90 million in 2020 and is projected to garner massive returns between 2021-2026.
 

Growing investments in R&D activities in lifescience sector, expansion of pharmaceutical & biotechnology industry fueled by government support, and launch of new drugs are the key factors driving global biologics safety testing market growth.
 

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Also, high incidence of chronic diseases will aid revenue inflow as well. Increasing number of biopharmaceutical companies with surging demand for biologics, and growing trend of pharmaceutical outsourcing will facilitate industry growth over the forecast timeframe.
 

Moreover, efforts by leading manufacturers to enhance cost-efficiency and productivity while developing advanced drugs on a large scale will open new avenues in the business sphere.
 

While availability of legislative aid for technological advancements, and implementation of biological safety standards by regulatory organizations will act as opportunities for industry partakers, high cost of R&D, and stringent restrictions on endorsements will arrest the growth graph.
 

As per product gamut, high kits & reagents segment captured a large share in global biologics safety testing market in the recent past, due to repeat purchases and growth in adoption of kit-based testing. Services provided after use of high kits & reagents will also spur expansion of this segment over the analysis period.
 

Regionally speaking, North America led the industry forecast in the past year, owing to high investments in biotechnology sector, strong R&D in lifesciences, and growth of pharmaceutical industries. Development of new vaccines, drugs, and biologics and their adoption in cancer research will contribute to the regional share as well.  
 

Key players influencing worldwide biologics safety testing market dynamics are Eurofins Scientific SE, Lonza Group AG, Wuxi Apptec Shanghai Co. Ltd., SGS S.A., Maravai Life Sciences Inc., Thermo Fisher Scientific Inc., Sartorius AG, Charles River Laboratories International Inc., Merck KGaA, and Samsung Biologics.