Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Biological Safety Testing Market Analysis & Forecast to 2023-2033: Market By Product; By Application; By Test; By End-user; and By Region" report has been added to ResearchAndMarkets.com's offering.
The global biological safety testing market is undergoing remarkable expansion, with current valuations estimating its worth at USD 3.82 billion in 2023. This figure is projected to soar to an impressive USD 16.5 billion by 2033, showcasing a compelling CAGR of 14.21% throughout the forecasted timeline. Spearheading this growth is a confluence of factors including the increased production of biologics and biosimilars, heightened vigilance over cell culture contamination, and a general uptick in biopharmaceutical research and development investments.
An influx of ground-breaking biological testing products is markedly influencing the market surge. December 2022 witnessed Charles River Laboratories International, Inc. unveiling the Endosafe Nexus 200, its latest addition to a line of fully automated instruments devised to uphold data integrity compliance. Its unique capabilities and enclosed system utilizing LAL cartridge technology set a new standard in water, in-process, and final product testing.
Reagents & kits emerged as the foremost revenue-generator within the product segment in 2022, thanks to their widespread application across pharmaceuticals and healthcare, paired with their frequent use in biopharmaceutical companies. Service provisions, on the other hand, are projected to witness the fastest growth rate, underpinned by technological advancements and strategic expansions by key industry players.
With respect to application, vaccines & therapeutics maintained their dominance as top revenue influencers in 2022, driven primarily by the escalating need for biologics safety testing as a standard quality control mechanism aimed at patient safety. Comparatively, monoclonal antibodies therapy is expected to exhibit the fastest ascent, owing to an increased burden of diseases and concerted governmental efforts to enhance monoclonal antibody therapies.
In the arena of testing types, the bioburden test reigns supreme in revenue generation due to its critical role in sterilization processes, routine manufacturing monitoring, and product development. Notably, Red One Automated Bioburden Detection by Redberry has significantly influenced this space. Moreover, the endotoxin test category is anticipated to record the speediest CAGR triggered by the necessity to mitigate microbial contamination in pharmaceutical and biologics manufacturing.
Exploring end-users, pharmaceutical & biotechnology companies are the apex revenue contributors, propelled by the expansion of these companies and continuous product innovation. For example, Lonza's PyroCell Monocyte Activation Test exemplifies new methodologies in non-endotoxin pyrogen detection. Research & academia follow closely, slated to experience the fastest surge resulting from amplified clinical research funding and adherence to intensifying biosafety regulations.
Regionally, North America maintains its stronghold on revenue share, attributed to substantial R&D investments and innovative technological developments, along with beneficial federal policies. Asia Pacific, however, is slated for the fastest regional market growth, powered by burgeoning healthcare investments, technological innovations, and strategic alliances designed to meet the soaring demands for biologics therapeutics.
Segmentation Highlights:
- The product landscape, with instruments, reagents & kits, and services headlining the sector
- Applications showcasing robust growth in cellular & gene therapy and vaccines & therapeutics
- Bioburden, sterility, and endotoxin tests leading the charge among testing types
- End-user insights spotlighting pharmaceutical & biotechnology companies and research & academia
- Geographical analysis, focusing on North America's dominance and Asia Pacific's rapid growth trajectory
Comprehensive assessments and strategic analyses within the report provide an in-depth understanding of the market dynamics shaping the biological safety testing landscape. For detailed observations and accurate forecasting, this report emerges as an indispensable resource for stakeholders and industry decision-makers.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2022-2033 |
| Estimated Market Value (USD) in 2022 | $3.82 Billion |
| Forecasted Market Value (USD) by 2033 | $16.5 Billion |
| Compound Annual Growth Rate | 14.2% |
| Regions Covered | Global |
Companies Mentioned
- Cytovance Biologics
- Toxikon
- Avance Biosciences
- Merck KGaA
- WuXi AppTec
- Thermo Fisher Scientific
- Lonza
- Eurofins Scientific
- Promega Corporation
- Charlers River Laboratories Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nlquyo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
