Grand View Research published a new study that discusses the growth forecast, current trends, and future outlook with competitor analysis of the Biological Safety testing products.
The Biological safety products market is expected to be at $6.9 Billion market by 2026 while exhibiting CAGR of 12.3%. Sharp rise in number of modern diseases and awareness in medical terms is expected to drive revenue growth in this product.
The product outlook is divided into three distinct categories namely Instruments, Services and Reagents & kits and the market was mainly driven by the Reagents & Kits as they’re used for research purposes in clinical and research laboratories.
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Some of the key market players are BSL Bioservice Scientific Laboorities, Lonza Group, Millipore Signma, SGS, Charles River, Stedium BioOutsource among others.
The biggest change will be seen in the vaccines & therapeutics segment that is expected to drive growth due to increase in research against the disease outbreaks.
North America has been the most dominant region in the market but in the future, Asia Pacific is considered to grow at exceptional rate owing to better economics and geographical factors.
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