Singapore Virus Safety Testing Services Market Size & Outlook
Singapore virus safety testing services market, 2016-2028 (US$M)
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Singapore virus safety testing services market highlights
- The Singapore virus safety testing services market generated a revenue of USD 5.0 million in 2021 and is expected to reach USD 12.0 million by 2028.
- The Singapore market is expected to grow at a CAGR of 13.5% 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 5.0 million |
| Market revenue in 2028 | USD 12.0 million |
| Growth rate | 13.5% (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, Singapore accounted for 0.7% 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.
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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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Singapore 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% in 2021. Horizon Databook has segmented the Singapore 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.
The Ministry of Health in Singapore updated its Biological Agents and Testing in 2017, which is expected to have a positive effect on the virus safety testing services market. Programs by Singapore government such as SkillsFuture—which provides training to the country’s biopharmaceutical sector workforce—are expected to further boost the biopharmaceutical industry, consequently promoting growth of virus safety testing services market.
Singapore’s pharmaceutical manufacturing is growing significantly after the launch of Biomedical Sciences (BMS) initiative. Some of the key pharma companies active in the country are Merck, GlaxoSmithKline, Sanofi-Aventis, Novartis, Schering-Plough, Pfizer, Kaneka, and Wyeth.
The entry of major players in the country is anticipated to support regional growth. For instance, in September 2018, Merck KGaA established a 3,800-square-meter GMP BioReliance biosafety testing lab in Singapore.
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Target buyers of Singapore 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 Singapore virus safety testing services market , including forecasts for subscribers. This country databook contains high-level insights into Singapore virus safety testing services market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Singapore virus safety testing services market size, by test type, 2016-2028 (US$M)
Singapore Virus Safety Testing Services Market Outlook Share, 2021 & 2028 (US$M)
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