Global safety testing for biologics market to touch $3.51 bn in 2020

North America leads the global biological safety packaging market

food-testing

(Photo Courtesy: www.foodsafetynews.com)

The global safety testing for biologics market was worth $1.76 billion in 2014 and is projected to reach $3.51 billion in 2020, at a compound annual growth rate of 12.23%.

According to market research firm Research and Markets, Pharmaceutical and Biotechnology industries are more concerned over safety of the product, be it in terms of efficacy of the drug, packaging of the product, delivering the product to the customer and others.

In all these cases, it is very much important to ensure that the product is safe for the usage.

As such, testing place a key role in ensuring the safety of the product.

North America leads the global biological safety packaging market with a share of 37.5% in 2014 followed by Europe with 31% of the market share during the same period.

 

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