Biologics Testing Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Biologics Testing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The biologics testing market size has grown rapidly in recent years. It will grow from $5.09 billion in 2023 to $5.88 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to growth in biologics development, stringent regulatory standards, quality control in bioprocessing, rise in biopharmaceutical investments, expansion of biomanufacturing capacity.

The biologics testing market size is expected to see rapid growth in the next few years. It will grow to $10.82 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to emergence of advanced therapies, increasing demand for contract testing services, expansion of biologics pipelines, globalization of biopharmaceutical manufacturing, increasing 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), rapid methods for product release.

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Market Drivers and Trends:

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.

Product Innovations are a key trend gaining popularity in the biologics testing market. Companies operating in the biologics testing market are adopting new innovative products to sustain their position in the market. For instance, in December 2022, Charles River Laboratories International, Inc., a US-based non-clinical contract research organization, launched the Endosafe Nexus 200TM, a new addition to its broad endotoxin testing line. The Nexus 200 is a data integrity compliant, fully robotic instrument that is the next step in Charles River's evolution. It uses Endosafe Limulus Amebocyte Lysate (LAL) cartridge technology and can process simple or complex serial dilutions for water, in-process, and final product testing. The system, which is run on Endosafe EndoScan-V version 6.1, enables data to be exported into a Laboratory Information Management System (LIMS) interface and offers enhanced traceability, security, and data management on an integrated touch screen.

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Major Key Players of the Market:

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.

Biologics Testing Market 2024 Key Insights:

• The biologics testing market size will grow to $10.82 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%.
• Unleashing Potential In The Thriving Biologics Testing Market Of Pharmaceutical And Biotechnology Advancements
• Exploring The Latest Trends With Product Innovations In The Biologics Testing Market
• North America was the largest region in the biologics testing market in 2023

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