Global Biological Safety Testing Market Size To Grow At A CAGR Of 12.50% In The Forecast Period Of 2023-2028
The ‘Global Biological Safety Testing Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global biological safety testing market, assessing the market on the basis of its segments like product, application, test type, and major regions.
The key highlights of the report include
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 12.50%
The increasing emphasis on the production of contamination-free biopharmaceutical products is driving the demand for biological safety testing. Growing demand for biopharmaceutical drugs and medications due to the surging cases of chronic conditions among people of all ages is leading to a greater application of biological safety testing for enhanced quality of training and bolstered risk assessment. Increasing demand for blood and blood-derived products owing to the growing prevalence of chronic conditions such as thalassemia, is further bolstering the biological safety testing market dynamics.
Favourable policies of the governments of emerging economies with a growing geriatric population, are leading to a heightened development of protocols and training programmes aimed towards improving the pharmaceutical and healthcare infrastructure. Over the forecast period, the anticipated increase in the geriatric population, leading to heightened cases of cardiovascular and musculoskeletal diseases, is pushing the hospitalisation rates, thereby, boosting the biological safety testing market to facilitate greater safety assurance.
Increasing incorporation of bioburden testing services across hospitals and ambulatory surgical centres, aimed towards facilitating enhanced sterilisation and medical equipment decontamination, is further fuelling the market growth.
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Biological Safety Testing Industry Definition and Major Segments
Biological safety testing refers to the extensive protocols and processes involved in carefully examining the safety and security of biological components such as blood, blood-based products, vaccines, tissues, tissue-based products, and therapeutics. Biological safety testing is integral, as contamination hampers the precision of treatment in healthcare institutions. Tests used vary depending upon the type of material, surroundings, and purpose.
Based on product, the market is segmented into:
• Reagents and Kits
• Services
• Instruments
On the basis of application, the market is divided into:
• Stem Cell
• Tissue and Tissue-based Products
• Gene Therapy
• Blood and Blood-based Products
• Vaccines and Therapeutics
By test type, the market is segmented into:
• Sterility Tests
• Cell Line Authentication and Characterisation Tests
• Bioburden Tests
• Endotoxin Tests
• Adventitious Agent Detection Tests
• Residual Host Contamination Detection Tests
• Others
On the basis of region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Biological Safety Testing Market Trends
The key trends in the global biological safety testing market include the growing advancements and research and development activities aimed towards bolstering gene therapy infrastructure. Increasing prevalence of conditions such as albinism, Angelman syndrome, and ankylosing, among others, are expected to increase the dependence on biological safety testing to remove harmful contaminants, bacterial pathogens, and infectious agents. The rapid development of biosimilars, owing to the patent expiry of the existing ones are major market propelling trends.
Rising investments towards the development of vaccines and therapeutics are crucial trends in the biological safety testing market. This can be attributed to the escalation of diseases such as COVID-19. Rapid innovations by major biotechnological and biopharmaceutical manufacturers aimed towards expansion of their product portfolio are the further propelling the demand for biological safety testing for enhanced quality checks.
In geographical terms, North America accounts for a significant share in the market. The technologically advanced research and development infrastructure in strong economies like the United States are driving the market in this region. Growing awareness pertaining to medical product safety across healthcare units are further propelling the market for biological safety testing in this region.
Key Market Players
The major players in the biological safety testing market report are
• Charles River Laboratories International, Inc.
• Toxikon Corporation
• Avance Biosciences
• Merck KGaA
• SGS SA
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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