Mycoplasma Testing Market Regional Landscape, Sales and Consumption Status Report by 2025 “The global mycoplasma testing market was valued at USD 446.9 million in 2016 and is anticipated to witness a lucrative growth over the forecast period. Rising number of pharmaceutical and biopharmaceutical companies, increasing R&D investment, and growing number of drug launches are major attributes that are fueling the market.”
Industry insights The global mycoplasma testing market was valued at USD 446.9 million in 2016 and is anticipated to witness a lucrative growth over the forecast period. Rising number of pharmaceutical and biopharmaceutical companies, increasing R&D investment, and growing number of drug launches are major attributes that are fueling the market. Increase in the number of biopharmaceutical and pharmaceutical companies has been seen in the past years. This growth has been attributed by the need for advanced drugs and therapies for the treatment of chronic diseases like cancer, diabetes, cardiovascular diseases and osteoporosis among others. The research work is supported by the government by funding the pharmaceutical and biotechnology companies in order to facilitate research based activities for the development of new drugs. This may foster the growth of mycoplasma testing market. Rising investment in R&D by dominant players has further resulted in growth of the market. In the year 2016, North America spent 28.4% of its GDP on research and development according to Global R&D Funding Forecast. This signifies significant rise in the spending by various companies for the invention of new and enhanced testing devices and kits. With the growing expenditure by the government in the healthcare industry and awareness campaigns have led to the growth of the mycoplasma testing market. Mycoplasma testing is conducted so as to ensure the product is contamination free during each stage of manufacturing process.
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