Australia Virus Safety Testing Services Market Size & Outlook
Australia virus safety testing services market, 2016-2028 (US$M)
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Australia virus safety testing services market highlights
- The Australia virus safety testing services market generated a revenue of USD 11.6 million in 2021 and is expected to reach USD 29.6 million by 2028.
- The Australia market is expected to grow at a CAGR of 14.3% from 2022 to 2028.
- In terms of segment, adventitious virus tests was the largest revenue generating test type in 2021.
- Adventitious Virus Tests is the most lucrative test type segment registering the fastest growth during the forecast period.
Virus safety testing services market data book summary
| Market revenue in 2021 | USD 11.6 million |
| Market revenue in 2028 | USD 29.6 million |
| Growth rate | 14.3% (CAGR from 2021 to 2028) |
| Largest segment | Adventitious virus tests |
| Fastest growing segment | Adventitious Virus Tests |
| Historical data | 2016 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Adventitious Virus Tests, Antibody Production Tests, Retrovirus Tests, Specific Virus Tests, Other Tests |
Other key industry trends
- In terms of revenue, Australia accounted for 1.7% of the global virus safety testing services market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, Japan virus safety testing services market is projected to lead the regional market in terms of revenue in 2028.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 86.7 million by 2028.
Key Regions: U.S. , Japan , Canada , China , South Korea
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Virus Safety Testing Services Market Scope
Virus Safety Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia virus safety testing services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to virus safety testing services market will help companies and investors design strategic landscapes.
Adventitious virus tests was the largest segment with a revenue share of 37.07% in 2021. Horizon Databook has segmented the Australia virus safety testing services market based on adventitious virus tests, antibody production tests, retrovirus tests, specific virus tests, other tests covering the revenue growth of each sub-segment from 2016 to 2028.
In Australia, biosafety rules and regulations are maintained by the Therapeutic Goods Administration (TGA), which is a part of the Australian Department of Health. The TGA provides guidelines for sterility testing of drugs supplied for human use.
Its rules are stringent and aid in maintaining high product quality. Associations such as Australian Pharmaceutical Manufacturing Association (APMA) operate in manufacturing, export, and research of pharmaceutical products, including biologics, which is expected to have a positive impact on growth of virus safety testing services market.
In addition, increasing public-private partnerships to fuel biologics R&D in Australia is further expected to create lucrative opportunities. In March 2020, U.S.-based Aragen Bioscience, Inc. collaborated with the University of Technology Sydney (UTS) to accelerate biologics R&D in Australia.
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Target buyers of Australia virus safety testing services market databook
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Our clientele includes a mix of virus safety testing services market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia virus safety testing services market , including forecasts for subscribers. This country databook contains high-level insights into Australia virus safety testing services market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Australia virus safety testing services market size, by test type, 2016-2028 (US$M)
Australia Virus Safety Testing Services Market Outlook Share, 2021 & 2028 (US$M)
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