Biological Safety Testing Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Biological Safety Testing Market Analysis:

The biological safety testing market is projected to experience a compound annual growth rate (CAGR) of 12.4% throughout the forecast period. The emergence of COVID-19 has prompted numerous pharmaceutical and biotechnology companies to develop innovative treatments and vaccines for the virus. These increased research and development activities have had a positive impact on the biological safety testing market. For example, in March 2020, Regeneron and Sanofi initiated the development of their biologic Kevzara for COVID-19 treatment. Kevzara, jointly developed by Regeneron and Sanofi, also inhibits the IL-6 pathway. Biological safety testing plays a crucial role in ensuring the purity of vaccines and other biological products. Consequently, the demand for biological safety testing has risen alongside the development of new COVID-19 treatments.

Several key factors are driving the growth of the market, including the rapid expansion of the pharmaceutical and biotechnology industries, increased investments, and the production of new biologics due to the high disease burden. In 2021, biologics accounted for two of the top eight drugs in terms of revenue. Humira (adalimumab), developed by AbbVie for the treatment of rheumatoid arthritis, psoriasis, Crohn’s disease, and other autoimmune diseases, generated sales of USD 20.7 billion, according to the Top 15 Best-selling Drugs of 2021 report. Humira was also the fastest-growing biological drug.

Furthermore, biotechnology-derived products or biologicals have become integral to various aspects of healthcare, including disease diagnosis, prevention, and treatment. However, there are potential safety concerns associated with these products, which often arise from the manufacturing processes and complex biological and structural characteristics. Therefore, comprehensive and systematic biological safety testing is necessary to adequately assess the safety of these products before any clinical investigation takes place. As a result, the market is expected to thrive throughout the forecast period.

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