Global Biological Safety Testing Market 2017-2021
About Biological Safety Testing
Biological safety ensures the biological integrity of products that are meant for consumption. Biological safety testing examines facilities and tests them for various types of contaminations. Several instruments, reagents, and kits are used for biological safety testing. Due to the increasing number of product recalls, which have caused significant losses for pharmaceutical companies, the focus on biological safety testing is increasing. Pharmaceutical and biotechnology companies are making significant investments in research and development (R&D) to develop safe products.
Technavio’s analysts forecast the global biological safety testing market to grow at a CAGR of 11.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global biological safety testing market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Biological Safety Testing Market 2017-2021
Technavio recognizes the following companies as the key players in the global biological safety testing market: Merck, Lonza, SGS, and Thermo Fisher Scientific.
Other Prominent Vendors in the market are: Air Science, Avance Biosciences, BSL Bioservice, Charles River Laboratories, Esco Micro, Nordic Scientific & Natural Solutions, NuAire, and WuXi Biologics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is International conferences promoting best practices of biosafety. There have been several collaborations to improve biosafety procedures and protocols. These collaborations organize annual events that discuss recent developments, discoveries, process improvement tools and techniques, and recommendations for industries. The oldest organization that promoted biosafety and improves protocols around the world is the ABSA. It was found in 1984 to promote biosafety as a scientific discipline and address the growing needs of biosafety professionals across the world. It aims to provide a professional association that represents the interests and needs of the practitioners of biological safety.”
According to the report, one of the major drivers for this market is Growing biotechnology and pharmaceutical industries. Biological safety testing is essential to ensure the safety of finished products in the biotechnology and pharmaceutical industries. Regulatory compliance and ensuring the production of products that are free from contaminations are essential for the success of pharmaceutical and biotechnology companies. Regulatory organizations require pharmaceutical products to comply with standard regulatory procedures. Due to the growing number of biopharmaceuticals, the demand for biological safety testing will increase during the forecast period. Therefore, the growth of the biotechnology and pharmaceutical industries will drive the growth of the global biological safety testing market.
Further, the report states that one of the major factors hindering the growth of this market is Lack of trained professionals. Biological safety testing requires efficient handling and compliance with regulatory procedures and good manufacturing practices. Due to the growing prevalence of chronic diseases, laboratories are required to develop new drugs quickly, which can affect adherence with regulatory procedures. If the quality of new drugs is not adequate, biopharmaceutical companies can incur significant losses. In April 2017, in India, the Central Drugs Standard Control Organization (CDSO) listed 60 drugs as unsafe for use because they were adulterated, spurious, misbranded, or not of standard quality.
Merck, Lonza, SGS, and Thermo Fisher Scientific, Air Science, Avance Biosciences, BSL Bioservice, Charles River Laboratories, Esco Micro, Nordic Scientific & Natural Solutions, NuAire, and WuXi Biologics.