Thermo Fisher Scientific Inc. (US) and Charles River Laboratories (US) are Leading players in the Biologics Safety Testing Market
The biologics safety testing market is projected to reach USD 7.2 billion by 2029 from an estimated USD 4.2 billion in 2024, at a CAGR of 11.1% during the forecast period. The major factors driving the growth of this biologics safety testing market include growing development of mAbs and biosimilars and rising investments in biopharmaceutical industry.
The global biologics safety testing market is competitive with top players such as Thermo Fisher Scientific Inc. (US), Charles River Laboratories (US), Laboratory Corporation of America Holdings (US), F. Hoffmann-La Roche Ltd (Switzerland), and Merck KGaA (Germany). The market players have adopted various strategies such as new product launches, acquisitions, agreements, collaborations, and geographical expansions to strengthen their position in the global biologics safety testing market.
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Thermo Fisher Scientific Inc. (US)
Thermo Fisher Scientific Inc. is a leading science and technology company engaged in manufacturing high-end analytical instruments, laboratory equipment, software, consumables, reagents, and services for scientific research, analysis, discovery, and diagnostics. The company is known for its premier brands, such as Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services. The company operates in over 180 countries across North America, Europe, Asia, the Middle East, Africa, and Latin America. The company focuses on acquiring new consumers through partnerships, collaborations, and expansions in emerging markets like China, India, and South Korea. The company further aims to strengthen its presence in selected geographies, undertaking various organic and inorganic growth strategies. For instance, in February 2024, Thermo Fisher Scientific Inc. expanded its good manufacturing practices (GMP) lab service offerings with addition of mycoplasma and additional biosafety testing capabilities.
Chales River Laboratories (US)
Charles River is a service and early-stage contract research organization (CRO). The company operates through 150 facilities across 21 countries. With this strong global presence, the company is constantly involved in product innovations, which have increased the company’s overall revenue. The company continues to develop and manufacture innovative products. For instance, in February 2023, Chales River Laboratories launched Novel IgY-based ELISA Kit for the Detection and Quantitation of Residual Host Cell Protein in CHO-based biotherapeutics.
Laboratory Corporation of America Holdings (US)
Laboratory Corporation of America Holdings is a global life sciences and healthcare company providing a wide range of services including lab testing & research, product & manufacturing testing, and consulting. The company continues to adopt strategic alliances such as collaborations and partnerships. For instance, in March 2023, LabCorp collaborated with Forge Biologics for gene therapy development and manufacturing. Under this partnership gene therapy clients will have access to drug development services, manufacturing capabilities, scientific expertise, for adeno-associated virus (AAV) mediated gene therapy programs.
Related Reports:
Biologics Safety Testing Market by Product & Service (Consumables, Instrument, Services), Test Type (Mycoplasma, Sterility, Endotoxin, Bioburden, Virus Safety), Application (Vaccines, mAbs, Cell & Gene Therapy, Blood Products) - Global Forecast to 2029
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