The biological safety testing market is expected to reach USD 5.54 billion by 2024, according to a new report by Grand View Research, Inc. The biological safety testing market is primarily driven by exponential growth in the production of biologics and medical devices that demand stringent safety requirements. The growing disease burden is anticipated to be the major cause for high production of biologics thus contributing toward market growth.
The overwhelming adoption rate of unhealthy lifestyles has resulted in the high prevalence of chronic diseases, such as cancer and diabetes, which is serving as a key contributing factor toward increasing drug development and their subsequent commercialization. This is presumed to raise the need to scrutinize and ensure the safety of targeted and specialized therapies, evaluate their outcomes, and circumvent probable shortcomings.
As a consequence of the high manufacturing intensity, pharmaceutical and biotechnology companies are increasingly incorporating biological safety testing tools to produce highly potent and contamination-free biologics to cater to the large population suffering from target diseases.
In addition, stringent regulations issued by healthcare organizations globally are presumed to be responsible for the high uptake of biological safety testing tools, thus resulting in a wider scope for the biological safety testing market
For instance, the European Medical Device Directives are believed to have a higher influence on the implementation of the defined imperative regulations to meet the growing safety requirements, thus translating into improved biological safety and contributing to overall growth of this vertical.
Browse full research report on Global Biological Safety Testing Market: http://www.grandviewresearch.com/industry-analysis/biological-safety-testing-market
Further Key Findings From the Study Suggest:
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/healthcare
Grand View Research has segmented the biological safety testing market on the basis of product, application, test, and region:
Product Outlook (Revenue, USD Million, 2013 - 2024)
Application Outlook (Revenue, USD Million, 2013 - 2024)
Test Outlook (Revenue, USD Million, 2013 - 2024)
Regional Outlook (Revenue, USD Million, 2013 - 2024)
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-biological-safety-testing-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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