The global biological safety testing market size is
expected to reach USD 5.54 billion by 2024, according to a new report by Grand
View Research, Inc., registering a CAGR of 12.2% during the forecast period.
The market is predominantly driven by increasing influx of biologics, which
raises the requirements of highly efficient biological safety testing tools.
Rising disease burden is expected to be a major cause for high production of
biologics, thereby contributing toward market growth.
Increasing prevalence of lifestyle-associated chronic diseases such as
cancer and diabetes serves as a key contributing factor toward increasing drug
development and their subsequent commercialization. This is presumed to raise
the need to scrutinize and ensure safety of targeted and specialized therapies,
evaluate their outcomes, and circumvent probable shortcomings. As a consequence
of high manufacturing intensity, pharmaceutical and biotechnology companies are
increasingly incorporating biological safety testing tools to produce highly
potent and contamination-free biologics to cater to the large population
suffering from target diseases.
Viral safety testing is proving to be one of the primary concerns of
most companies as it is a critical component of chemistry, manufacturing, and
control of biologics. This presents the market with several potential growth
opportunities in future.
Laboratory-based contaminations have stimulated the development and
refinement of workstations by incorporating biological safety tools. Need to
work with tissue cultures, maintain sterility of cell lines, and minimize
cross-contamination has contributed to concerns regarding product integrity.
The aforementioned factors are responsible for raising concerns of public organizations.
Consistent intervention by government healthcare organizations to implement
good manufacturing practices and subsequent testing and control at every
production stage is believed to widen the growth opportunities of the market.
Full Research Report
On Biological Safety Testing Market Analysis:
https://www.grandviewresearch.com/industry-analysis/biological-safety-testing-market
https://www.grandviewresearch.com/industry-analysis/biological-safety-testing-market
Further key findings from the study suggest:
·
By product, reagents and kits accounted for
the largest share of over 42.0% in 2015 as they form major components and are
extensively used in research and clinical laboratories
·
The instruments segment, on the other hand,
is expected to witness a lucrative CAGR of 13.2% during the forecast period due
to rising demand from various clinical and research laboratories
·
Based on application, the vaccine segment
is expected to exhibit a CAGR of 12.9% during the forecast period, which can be
predominantly attributed to significant increase in disease outbreaks over the
years
·
Bioburden tests are expected to grow at a
lucrative rate throughout the forecast period owing to high adoption rate to
determine bioburden limits in wide-ranging biologics and medical devices
·
North America dominated the global market
with over 36.0% in 2015 owing to high R&D investments in biotechnology
·
The Asia Pacific regional market is
anticipated to exhibit a strong CAGR of over 13.1% during the forecast period.
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Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/healthcare
Grand View Research has segmented the global biological safety testing
market on the basis of product, application, test, and region:
Biological Safety Testing
Product Outlook (Revenue, USD Million, 2013 - 2024)
·
Reagents & kits
·
Instruments
·
Services
Biological Safety Testing
Application Outlook (Revenue, USD Million, 2013 - 2024)
·
Stem cell
·
Tissue & tissue-based products
·
Gene therapy
·
Blood & blood-based therapy
·
Vaccines & therapeutics
Biological Safety Testing
Test Outlook (Revenue, USD Million, 2013 - 2024)
·
Sterility tests
·
Cell line authentication and
characterization tests
·
Bioburden tests
·
Endotoxin tests
·
Adventitious agent detection tests
·
Residual host contamination detection tests
·
Others
Biological Safety Testing
Regional Outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o U.K.
o Germany
·
Asia Pacific
o Japan
o China
o India
·
Latin America
o Mexico
o Brazil
·
MEA
o South Africa
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
