According to a new report by Reports and Data, the Global Biological Safety Testing Market size was valued at USD 3.59 Billion in 2020 and is forecast to exceed USD 8.92 Billion in terms of revenue, at a CAGR of 5.1% through 2028. The market growth is driven by increasing prevalence of lifestyle-associated disorders such as diabetes, and mounting demand for improving drug development and their following commercialization process.
Biologics are products manufactured from living organisms, therefore their safety and specialized evaluation is of the highest importance. The testing is performed to assure a safe quality and non-contamination of vaccines and biopharmaceuticals. Biological safety testing has become an essential step for new products launching.
Pharmaceutical companies are taking several ensure the safety of targeted and specific therapies, circumvent probable shortcomings and evaluate their outcomes. Surging demand for high manufacturing effectiveness is prompting pharmaceutical and biotechnology companies to include biological safety testing tools. These tools and kits offer highly accurate assessment and result for several target diseases. Increasing influence of regulatory bodies to implement safety guidelines for the biopharma companies coupled with increasing consumer awareness will reinforce biological safety testing market trends through 2028.
Top Companies operating in the market and profiled in the report include:
Charles River Laboratories International Inc., Lonza Group, SGS SA, Sigma-Aldrich Corporation, Avance Biosciences Inc., WuXiPharmaTech Inc., BSL Bioservice, Cytovance Biologics Inc., Toxikon Corporation, and Merck KGaA, among others.
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The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.
Increasing expenditure on RD, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Biological Safety Testing market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers acquisitions, joint ventures, collaboration, and product launches, among others.
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Product Outlook (Revenue, USD Million; 2020-2028)
- Reagents kits
Application Outlook (Revenue, USD Million; 2020-2028)
- Vaccines therapeutics
- Stem cell
- Tissue tissue-based products
- Gene therapy
- Blood blood-based therapy
Test Type Outlook (Revenue, USD Million; 2020-2028)
- Endotoxin tests
- Bioburden tests
- Adventitious agent detection tests
- Residual host contamination detection tests
- Sterility tests
- Cell line authentication and characterization tests
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The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, RD and technological advancements, and growth prospects.
Key Regions Assessed in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Germany, Italy, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further segments the global Biological Safety Testing market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.
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