Global Biologics Testing Market Size 2024, Forecast To 2033
6 Mar, 2024
The biologics testing market size has grown rapidly in recent years. It will rise from $5.09 billion in 2023 to $5.88 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. Growth in the historic period can be attributed to the expansion of biologics development, stringent regulatory standards, quality control in bioprocessing, increased biopharmaceutical investments, and expansion of biomanufacturing capacity. Projections indicate rapid growth, with the market expected to grow to $10.82 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. This growth is fueled by the emergence of advanced therapies, increasing demand for contract testing services, expansion of biologics pipelines, globalization of biopharmaceutical manufacturing, and rising demand for rapid testing solutions. Major trends in the forecast period include advanced analytical technologies, cell-based assays, next-generation sequencing (NGS), quality by design (QbD) principles, integration of artificial intelligence (AI), and rapid methods for product release.
Global Biologics Testing Market Key Driver
The rapidly growing pharmaceutical and biotechnology industries are expected to propel the growth of the biologics testing market going forward. The pharmaceutical industry is primarily focused on developing and manufacturing medications for various diseases and medical conditions. The biotechnology industry, on the other hand, focuses on the application of technology to biology and healthcare. Biologics testing includes tests to identify and quantify impurities, assess stability, and evaluate the immune response to the drug. The growth of the pharmaceutical and biotechnology industries has also led to advances in biologics testing technology, such as the development of new analytical tools and techniques. This has allowed for more accurate and efficient testing, reducing the time and cost of bringing new biologics to market. For instance, in June 2022, according to the European Federation of Pharmaceutical Industries and Associations, a Brussels-based trade association and lobbying organization, the European pharmaceutical production increased by 4.64% from € 286,697 million ($307,416 million) in 2020 to € 300,000 million ($321,681 million) in 2021. Further, in 2021, according to Torys LLP, a Canada-based corporate law firm, 84 initial public offerings for biotech companies in the US in 2020 raised a total of US$15 billion. Therefore, the rapidly growing pharmaceutical and biotechnology industries are driving the growth of the biologics testing market.
Get A Free Sample Of The Global Biologics Testing Market ReportGlobal Biologics Testing Market Segments
The biologics testing market covered in this report is segmented –
1) By Product: Reagents And Kits, Instruments, Other Products
2) By Test Type: Endotoxin Test, Sterility Test, Mycoplasma Tests, Bioburden Tests, Residual Host-Cell Proteins And DNA Detection Tests, Virus Safety Test, Other Test Types
3) By Application: Vaccine Development And Manufacturing, Monoclonal Antibodies Development And Manufacturing, Cellular And Gene Therapy Products Development And Manufacturing, Blood And Blood Products Development And Manufacturing, Other Applications
By Geography:The regions covered in the biologics testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the biologics testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global biologics testing market duirng the forecast period. The regions covered in the biologics testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Biologics Testing Industry Players
Charles River Laboratories Inc., Thermo Fisher Scientific Inc., Merck KGaA, SGS Société Générale de Surveillance SA, WuXi AppTec Co. Ltd., Sartorius AG, Cytovance Biologics Inc., Pace Analytical Services Inc., Avance Biosciences Inc., Celgene Corporation, Biomerieux SA, Lonza Group Ltd., Genscript Biotech Corp., Bio-Rad Laboratories Inc., Accugen Laboratories Inc., Gibraltar Laboratories Inc., Jordi Labs, Gilead Sciences Inc., Bioquell Limited, Southern Research, Promega Corporation, Lancaster Laboratories Inc., Toxikon Corporation, Eurofins BioPharma Product Testing, Johnson & Johnson Inc., QIAGEN N.V., GlaxoSmithKline plc, Danaher Corporation, Agilent Technologies Inc., PerkinElmer Inc., Abbott Laboratories, Beckman Coulter Inc., Becton Dickinson and Company, Roche Holding AG, Novartis AG, Eli Lilly and Company, Pfizer Inc.
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Biologics Testing Market Overview
Biologics testing typically consists of a range of services aimed at evaluating the safety, efficacy, and quality of biological products.
Biologics Testing Global Market Report 2023 provides data on the global biologics testing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biologics testing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.