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.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.
Research Methodology:
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Biological Safety Testing Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
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Further key findings from the report suggest
- Based on product type, the reagents and kits segment is estimated to exceed USD 2.73 billion in terms of revenue at a CAGR of 12.1% through 2028. Ongoing advancements and modifications in the formulation of reagents & kits is encouraging laboratory technicians to include these products in toxicology for better assessment.
- Based on application, the vaccine and therapeutic segment is forecast to contribute revenue share close to USD 2.62 billion by 2028. The increased demand vaccine and therapeutic that align with regulatory guidelines to ensure unaltered therapeutic value and decreased toxicity will favor segment’s growth.
- Based on test type, the endotoxin tests type accounted for nearly 27.6% of the global biological safety testing market in 2020 and is expected to gain major traction through 2028. The robust growth can be attributed to the increasing incorporation of these tests for various drug and biopharmaceuticals manufacturing. Also, availability of various types of endotoxin tests, such as gel clot endotoxin testing, USP chromogenic endotoxin testing, and turbidimetric method, to suit different requirements is boosting segmental growth.
- In the regional landscape, Asia Pacific is forecasted to observe a notable CAGR of 12.6% through 2028 on account of economic development coupled with continually increasing per capita healthcare investment in emerging countries including India, China, Singapore, and others.
- North America accounted for 37.3% of the global biological safety testing market in 2020 and is expected to contribute significantly to the market revenue share during the forecast period. The market growth is driven by increasing prevalence of chronic diseases, growth in biotechnology and pharmaceutical industries, rise in number of innovative product launches, and government support for biotechnology and pharmaceutical industries in the region.
- Key players operating in the global biological safety testing market 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.
For the purpose of this study, Reports and Data has segmented the global Biological Safety Testing Market on the basis of Product, Application, Test Type and region:
Product Outlook (Revenue, USD Million; 2020-2028)
- Reagents & kits
- Instruments
- Services
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
- Others
Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Biological Safety Testing market over the forecast period?
- What are the major factors driving the growth of the Global Biological Safety Testing Market?
- What are the key challenges impacting the global Biological Safety Testing market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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