According to the research 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 size was valued USD 3463.90 million in 2020 and is expected to grow considerably throughout 2021-2026.
 

Global biologics safety testing market growth is largely fueled by increasing R&D investments in life sciences field, favorable government initiatives, rising prevalence of chronic diseases, and growing number of drug launches.
 

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Shifting focus towards pharmaceutical outsourcing is expected to enhance the industry development in the upcoming years. Moreover, intensifying competition to bring new therapeutically advanced drugs at a large scale has encouraged industry players to improve manufacturing processes.
 

Despite the positive outlook, stringent government directions and high medication costs are impeding global biologics safety testing industry expansion. However, legislative support towards providing assets for biologics advancement and its safety are expected to create lucrative revenue prospects in the upcoming years.
 

Based on product terrain, the market is divided into instruments, high kits & reagents, and services. Among these, high kits and reagents accounts for considerable industry share, creditable to recurring purchase of the products as compared to instruments and rising adoption of kit-based testing.
 

Considering the geographical outlook, key contributors to the overall biologics safety testing market value are North America, Europe, and Asia Pacific. Expert analysts cite that North America currently captures majority industry share, driven by strong R&D scenery in life sciences, growth of pharmaceutical industries, and large scale investments in biotechnology. Also, high adoption of biologics in cancer research and substantial number of new biologics, drugs, & drugs in pipeline are favoring the industry growth in this region.
 

Speaking of the competitive landscape, top contenders impacting global biologics safety testing industry dynamics are Eurofins Scientific SE, WuXi AppTec Co. Ltd., Maravai Lifesciences Holdings Inc., Thermo Fisher Scientific Inc., Charles River Laboratories Inc., Samsung Biologics Co Ltd., Sartorius AG, Merck KGaA, Lonza Group Ltd., and SGS S.A.