A three-pronged approach was followed for deducing the biological safety testing products and services market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for biological safety testing products and services market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of biological safety testing products and services market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The biological safety testing products and services market was categorized into four segments, namely product (Reagents & Kits, Instruments, Services), application (Vaccines & Therapeutics, Blood & Blood-based Products, Gene Therapy, Tissue & Tissue-based Products, Stem Cell), test type (Endotoxin Tests, Sterility Tests, Cell Line Authentication & Characterization Tests, Bioburden Tests, Adventitious Agent Detection Tests, Residual Host Contamination Detection Tests), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The biological safety testing products and services market was segmented into product, application, test type, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The biological safety testing products and services market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; and Kuwait.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The biological safety testing products and services market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Charles River Laboratories International, Inc. - Charles River Laboratories International, Inc. was founded in 1947 and is headquartered in the U.S. The company is engaged in the production and sales of research models and services, research animal diagnostic testing services, genetically engineered models and services to the drug development industry. It also specializes in providing services for drug discovery, including consulting & staffing services and vaccine development support. In 2015, the number of employees was found to be 7,500.
BSL Bioservice Scientific Laboratories GmbH - BSL Bioservice Scientific Laboratories GmbH is involved in performing scientific research. The company conducts research in the areas of metabolism, biocompatibility, toxicology, immunoanalytics, pharmacology, bioanalytics, and microbiology. BSL Bioservice Scientific Laboratories caters to the following areas: pharmaceuticals, agrichemicals, cosmetics, chemicals, and food industries.
Lonza Group AG - Lonza Group AG is a custom manufacturing company providing services within the life sciences industry. It specializes in catering to research, development, and manufacturing of chemicals, active pharmaceutical ingredients, intermediates, and bio-therapeutics from preclinical to commercial entities. Lonza Ltd. was incorporated in 1897 and is based in Europe. Lonza Ltd. operates as a subsidiary of Lonza Group AG. The number of employees was found to be 11,400 in 2015.
Cytovance Biologics - Cytovance Biologics is a biopharmaceutical contract manufacturing company involved in producing therapeutic proteins and antibodies. The company was founded in 2003 and is headquartered in the U.S. The process development services provided by the companies include troubleshooting existing processes, cell line selection, development of cell culture & recovery and purification, manufacturing, analytical procedure development, qualification & validation. The company also provides support services in the areas of quality assurance/quality control, raw material management, project management, analytics, stability testing, and regulatory support services. It serves biopharmaceutical companies in the U.S.
Sigma Aldrich Corporation - Sigma-Aldrich Corporation was founded in 1951 and is headquartered in the U.S. Sigma-Aldrich Corporation, a life science company, involved in developing, manufacturing, purchasing, and distributing a wide range of biochemical, testing and equipment products globally. The company also produces reagents, and kits and services are used in scientific research, pharmaceutical development, and biotechnology. It deals in the development of critical raw materials, contract manufacturing services, and pharmaceutical safety testing services. The company mainly caters to chemical and electronics, pharmaceutical companies, universities, industrial companies, biotechnology companies, commercial laboratories, non-profit organizations, governmental institutions, diagnostic, and hospitals. As of November 18, 2015, Sigma-Aldrich Corporation is a Merck KGaA subsidiary.
Merck Millipore - Merck Millipore Ltd. produces and develops filtration membrane devices for the electronic, pharmaceutical, and analytical industries. The company was incorporated in 2008 and is based in Europe. Merck Millipore Limited operates as a life science subsidiary of Merck Group.
SGS SA - SGS SA was founded in 1878 and is headquartered in Europe. The company is involved in the development of products for inspection, testing, verification, and certification across regions such as Asia Pacific, the U.S., Europe, Africa, and the MEA. The operations encompass the following segments: minerals, chemicals, life sciences, consumer-testing systems, environmental, automotive, and governments and institutions services. The company also provides product testing services, consultancy services; raw materials, outsourcing services; components, training and courses; and verification services.
Toxikon Corporation - Toxikon Corporation was founded in 1977 and is headquartered in the U.S. It is a preclinical contract research organization providing testing, biological, product development, and analytical and technical risk assessment services. The company majorly caters to pharmaceutical, biotechnology, and medical device industries. The company was formerly known as Cambridge Diagnostics, and in 1982, it changed its name to Toxikon Corporation.
WuXi PharmaTech (Cayman), Inc. - WuXi PharmaTech (Cayman), Inc. is a China-based company founded in 2000. It is a medical device pharmaceutical, biotechnology, and development services company. It operates as a service provider in the segments of laboratory services and manufacturing services. The laboratory services segment is involved in providing services for small molecules, whereas the manufacturing services segment is involved in producing advanced intermediates and APIs.
Avance Biosciences - Avance Biosciences is a contract research organization involved in providing assay validation, assay development, and sample testing services globally. It is also involved in the development of products for DNA sequencing, next-generation sequencing, and real-time qPCR. In addition, the company provides southern blot, northern blot, and other molecular biology and microbiology assays to support their clients with their GLP/GMP regulatory submissions and basic genomic research.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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