Report Overview
The global biological safety testing products and services market size was valued at USD 4.12 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.7% from 2023 to 2030.
The global biologics safety testing market in terms of revenue was estimated to be worth $3.6 billion in 2022 and is poised to reach $6.8 billion by 2027, growing at a CAGR of 13.3% from 2022 to 2027.
The global biologics safety testing market is projected to reach USD 6.8 billion by 2027 from USD 3.6 billion in 2022, at a CAGR of 13.3% during the forecast
The growth of the global biologics safety testing market is driven by factors such as the growing development of biologics and biosimilars, growing concerns over cell culture contamination, and rising biopharmaceutical R&D investments.
Drivers: Rising Investment in Biopharmaceutical R&D
Over the years, the prevalence of chronic diseases, such as cancer, diabetes, and neurological and cardiovascular diseases, has increased rapidly worldwide. The research and demand for various drugs, cell therapies, diagnostics, and active biological products are expected to grow due to the increasing incidence and prevalence of such diseases.
Cons.
How big is the Bacteriological testing market?
[170 Pages Report] The bacteriological testing market, by services, was valued at USD 8.93 Billion in 2016; this is projected to reach 13.98 Billion by 2022, at a CAGR of 7.8% during the forecast period.
How big is the bioanalytical testing services market?
According to a Comprehensive Research Report by Market Research Future (MRFR), “ Bioanalytical Testing Services Market Information By Molecule Type, Test Type, And Region - Forecast till 2030 " the market size was valued USD 3.49 billion in 2021 and is expected to reach USD 7.55 billion by 2030 at 8.6% CAGR during the forecast period 2022-2030.
Opportunity: Increased Outsourcing of Biopharmaceutical Activities to Cros
Contract research organizations (CROs) act as outsourcing partners for pharmaceutical & biotechnology companies and academic institutes.
CROs provide several services, such as cell and virus bank characterization, genetic stability testing, raw material testing, bulk-lot release testing, final product release testing, sterility testing services, an.
What is the market size of the food safety testing market?
The global food safety testing market size is projected to grow from USD 17.0 billion in 2018 to USD 24.6 billion by 2023, at a CAGR of 7.7% during the forecast period.
What is the size of the biologic safety testing products & services market?
The global biological safety testing products & services market size was valued at USD 2.77 billion in 2018 and is expected to grow at a CAGR of 12.3% over the forecast period.
The market is primarily driven by the increasing production of new-generation biologics by major pharmaceutical and biotechnology companies.
