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Biological Safety Testing Products And Services Market New Trends, Growth Opportunities, Top Players And Forecast To 2033
Biological Safety Testing Products And Services Market Trends
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According to The Business Research Company's, The biological safety testing products and services market size has grown rapidly in recent years. It will grow from $4.77 billion in 2023 to $5.4 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to the prevalence of target diseases, rising production of next-generation biologics, growing demand for biologics, rise in adoption of testing tools, growth in the pharmaceutical and biotechnology industries, and rising emphasis on regulatory compliance.
The biological safety testing products and services market size is expected to see rapid growth in the next few years. It will grow to $8.93 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to rising importance of evaluating their safety and effectiveness in treating health problems, increasing development of new therapeutics and treatments, rising interest in developing cell and gene therapies, rising investments in the biopharmaceutical space, and rising government initiatives to promote biopharmaceutical safety. Major trends in the forecast period include technological advancements, increasing demand for bioburden testing, rising investments in biopharmaceuticals and biologics, regulatory compliance driving adoption, and mergers and acquisitions among key players.
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Market Drivers and Trends:
The growing demand for gene therapies is expected to propel the growth of the biological safety testing products and services market going forward. Gene therapy is a medical approach that uses genes to treat or prevent disease by replacing, modifying, or supplementing faulty genes. The increased investment and research related to gene mutation and supportive regulatory environments further accelerate innovation and expand gene therapeutic applications. Biological safety testing products and services in gene therapy ensure viral vectors and genetic materials are contaminant-free and safe to use. For instance, in January 2024, according to a published document by the American Society of Gene & Cell Therapy, a US-based non-profit medical and scientific organization, in quarter four, 2023, the number of gene therapies in Phase III clinical trials grew by 10%, the first quarterly increase of that type since quarter three, 2022. Therefore, the growing demand for gene therapies drives the market of biological safety testing products and services.
Major companies operating in the biological safety testing products and services market are developing rapid animal-free bacterial endotoxin testing to enhance patient safety and expedite drug development.? This innovative approach aims to reduce testing time and improve reliability without the use of animal-based products. For instance, in January 2024, Charles River Laboratories International, a US-based pharmaceutical and biotechnology company, introduced the Endosafe Trillium cartridge, which employs recombinant technology to detect and quantify endotoxins without using animal-derived materials. It is the first rapid animal-free bacterial endotoxin test that features a faster turnaround time and eliminates the need for animal-derived reagents, thus enhancing sustainability and ethical testing practices. This product aims to provide rapid, accurate results while reducing reliance on the traditional Limulus amebocyte lysate (LAL) derived from horseshoe crabs?.
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Major Key Players of the Market:
Merck KGaA, Thermo Fisher Scientific Inc., Quest Diagnostics Incorporated, SGS Société Générale de Surveillance SA, Eurofins Scientific, Agilent Technologies Inc., Lonza Group AG, WuXi AppTec Co. Ltd., Charles River Laboratories Inc., BioMérieux SA, Almac Group, Samsung Biologics Co. Ltd., Maravai LifeSciences Holdings Inc., Genscript Biotech Corp, Wako Pure Chemical Industries Ltd., Associates of Cape Cod Inc., InvivoGen S.A.S., Microcoat Biotechnologie GmbH, BSL BIOSERVICE Scientific Laboratories Munich GmbH, Redberry, PathoQuest
Biological Safety Testing Products And Services Market 2024 Key Insights:
• The biological safety testing products and services market size is expected to see rapid growth in the next few years. It will grow to $8.93 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%.
• Impact Of Growing Gene Therapy Demand On Biological Safety Testing Market
• Innovative Advancements In Biological Safety Testing Products And Services
• North America was the largest region in the biological safety testing products and services market in 2023
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