Market Size of Global Biological Safety Testing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Biological Safety Testing Market Analysis
The biological safety testing market is expected to witness a CAGR of 12.4% during the forecast period.
With the emergence of COVID-19, many pharmaceutical and biotechnology companies began developing novel treatments and vaccines against COVID-19. These rising R&D activities impacted positively the biological safety testing market studied. For instance, in March 2020, Regeneron and Sanofi initiated the development of their biologic Kevzara for the treatment of patients with COVID-19. Kevzara (Sarilumab), jointly developed by Regeneron and Sanofi, also inhibits the IL-6 pathway. Biological safety testing plays a major role in ensuring the purity of vaccines and other biological products. Thus, with the development of new treatments for COVID-19, the demand for biological safety testing has also increased.
Some of the major factors that are driving the market growth are rapidly growing pharmaceutical and biotechnology industries, along with increasing investments, and rising production of new biologics due to the high disease burden. For instance, in 2021, biologics accounted for second of the top-eight drugs in terms of revenue. Humira (adalimumab), which was developed by AbbVie for the treatment of rheumatoid arthritis, psoriasis, Crohn's, and other autoimmune diseases, led to USD 20.7 billion sales, as per the Top 15 Best-selling Drugs of 2021 report. Humira was also the fastest-growing biological drug.
Further, biotechnology-derived products or biologicals have effectively made their way into various aspects of healthcare, including diagnoses, prevention, and treatments of diseases. However, there remain certain potential safety concerns, which generally arise from the manufacturing processes and complex biological and structural characteristics of these products. Therefore, these products need detailed and systematic biological safety testing, that eventually enables the adequate assessment of safety, before any kind of clinical investigation. Hence, the market is expected to thrive over the forecast period.
However, the biological safety process is quite time-consuming and complex which is expected to hinder the market growth.
