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 report further provides a thorough estimation of market share and size in each key geographical region along with key factors such as regulatory framework, investment and funding, technological advancements, import/export, and consumer demand in each region. In addition, the report also present a complete coverage of key companies in each region along with their company profiles, production and manufacturing capacities, product portfolio, and business expansion plans.
The report offers an extensive SWOT analysis and Porter’s Five Forces analysis to provide a better understanding of the competitive landscape of the Biological Safety Testing Market . The section also covers recent developments and product advancements, mergers and acquisitions, and financial standings of each competitors and new entrants.
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Increasing affordability of drugs and therapeutics, growing awareness regarding advanced surgical and treatment approaches, increasing number of government programs to support healthcare facilities and medical treatments, growing population suffering from chronic and lifestyle induced diseases, and rising level of disposable income to drive market growth over the forecast period. The pharma and healthcare industry has witnessed significant revenue growth with the emergence of COVID-19 pandemic. Increasing regulatory approvals, robust pipeline of drugs and therapeutics, growing RD activities, and rising investment to accelerate clinical research are some other factors driving market growth.
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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
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Key Questions Address in the Report:
- What is the growth rate of the Biological Safety Testing Market ? What is the market size the Biological Safety Testing Market is expected to reach by 2028?
- What are the key growth driving and restraining factors of the Biological Safety Testing Market ?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are key opportunities and growth prospects of the Biological Safety Testing Market over the forecast period?
- Which region is expected to show significant growth in the coming years?
- Which application segment is expected to be the most lucrative over the forecast period?
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