Europe Virus Safety Testing Services Market Size & Outlook
Europe virus safety testing services market, 2016-2028 (US$M)
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Europe virus safety testing services market highlights
- The Europe virus safety testing services market generated a revenue of USD 199.0 million in 2021.
- The market is expected to grow at a CAGR of 12.9% 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.
Europe data book summary
| Market revenue in 2021 | USD 199.0 million |
| Market revenue in 2028 | USD 465.7 million |
| Growth rate | 12.9% (CAGR from 2021 to 2028) |
| Largest segment | Adventitious virus tests |
| Fastest growing segment | Adventitious Virus Tests |
| Historical data covered | 2016 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 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, Europe region accounted for 29.7% of the global virus safety testing services market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 368.0 million by 2028.
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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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Europe 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 36.33% in 2021. Horizon Databook has segmented the Europe 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.
Europe held the second-largest share in 2019, which can be attributed to an increase in government initiatives that promote awareness about virus safety testing in biological products. In addition, the presence of major healthcare organizations such as the EMA, working to enforce major virus safety standards and ensure patient safety, is anticipated to boost the adoption of virus safety testing services.
For instance, the European Medical Device Directives are believed to have a greater influence on implementation of defined imperative regulations to meet growing safety requirements, thus, translating to improved biological safety and contributing to overall growth of the regional market.
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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 continent-level data and insights on the Europe virus safety testing services market , including forecasts for subscribers. This continent databook contains high-level insights into Europe virus safety testing services market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Europe Virus Safety Testing Services Market Outlook Share, 2021 & 2028 (US$M)
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