Demand for Biological Safety Testing Products & Services and Impact of COVID-19Posted by Mrudula Anil Karmarkar on June 2nd, 2021 The global biological safety testing products and services market size is expected to reach a value of USD 6.9 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 12.3% The market is predominantly driven by increasing production of biologics, which is boosting the need for highly efficient biological safety testing tools. Rising disease burden is expected to be a major factor responsible for high production of biologics, thereby contributing to market growth. Increasing prevalence of lifestyle-associated chronic diseases such as cancer and diabetes is a key factor contributing to rise in drug development and subsequent commercialization. This is expected to increase the need for scrutinizing & ensuring safety of targeted and specialized therapies, evaluating outcomes, and circumventing probable shortcomings. In addition, pharmaceutical and biotechnology companies are increasingly incorporating biological safety testing products and services to produce highly potent and contamination-free biologics to cater to the large number of people 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 is creating growth opportunities in the market. Laboratory-based contamination is leading to development and refinement of workstations through incorporation of biological safety products and services. Increasing need to work with tissue cultures, maintain sterility of cell lines, and minimize cross-contamination has increased concerns regarding product integrity. Rising intervention by government healthcare organizations to implement good manufacturing practices and subsequent testing & control at every production stage is expected to widen the scope for growth. The rising need for biologics has resulted in unprecedented growth in the number of biopharmaceutical companies. Increasing competition to develop therapeutically advanced drugs on a large scale has compelled manufacturers to improve aspects of manufacturing processes such as productivity and cost-efficiency. Companies are thus implementing good manufacturing practices involving thorough biological testing at various levels of the production cycle, thereby aiding the market growth. Biological Safety Testing Products and Services Market Report Highlights
The rising number of government initiatives to promote biological safety testing products and services is anticipated to drive overall growth over the forecast period. The high rate of microbial contamination and bioburden while manufacturing pharmaceuticals and biologics is expected to drive government and private organizations to improve underlying biological safety practices. Moreover, the presence of regulatory authorities to enforce significant safety standards is anticipated to boost the adoption of testing tools. Stringent guidelines and recommendations issued by these authorities increase the incorporation of these tools by quality assurance technicians, thus fueling the market growth. Biological safety testing services are used to ensure the safety of vaccines and biopharmaceuticals by confirming the absence of bacterial contaminants. Companies are offering services such as toxicology testing, bioburden testing, and analytical testing, which assess products on parameters such as accuracy, specificity, linearity, and range. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/2008/ibb The market is highly competitive and a considerable number of players dominate the market. Some of the key market players are Charles River Laboratories, Lonza Group, MilliporeSigma, and Sartorius Stedim BioOutsource Limited. These players hold considerable market shares owing to their wide product offerings. Market leaders are involved in extensive R&D for producing cost-efficient and technologically advanced testing products. Besides, various strategies, such as mergers & acquisitions, being undertaken by these companies to improve market presence are expected to create lucrative growth opportunities over the forecast period. For instance, in 2018, Charles River Laboratories, Inc. acquired MPI Research, expanding its ability to provide drug discovery and development services. Grand View Research has segmented biological safety testing products & services market on the basis of product, application, test type: Biological Safety Testing Product & Services Product Outlook (Revenue, USD Million, 2015 - 2026)
Biological Safety Testing Product & ServicesApplication Outlook (Revenue, USD Million, 2015 - 2026)
Biological Safety Testing Product & ServicesTest Type Outlook (Revenue, USD Million, 2015 - 2026)
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:www.grandviewresearch.com Like it? Share it! More by this author |