Biological safety testing forms the basis of ensuring decontamination of biologic medicines, laboratories, and healthcare institutions. As the world fights the COVID-19 pandemic it has become important to ensure that pharmaceuticals, and medical equipment used in treating patients are tested for contamination.
The soaring fatalities from COVID-19, coupled with the rapid rate of infection from the virus mandates biological safety testing practices. These practices are generally employed to test safety of biologic substances extracted from organic sources such as living organisms, proteins, nucleic acid, or a combination of these substances.
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Market players are innovating biological safety testing products that specifically cater to COVID-19 related contamination testing.
A pillar of strength for the growth of biopharmaceuticals and vaccines, biological safety testing products provide the necessary proof of safety for innovative organic pharmaceutical development. Prevalent adoption of bio-based medicinal drugs by health conscious consumers furthers the development of biopharmaceuticals.
As the production of these pharmaceuticals increases, so will the safety testing of its products. With the help of biological safety testing organizations, pharmaceutical companies are integrating improved manufacturing processes that conduct tests while the product is being manufactured. This further increases the cost efficiency and safety of products for biopharmaceuticals.
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The rampant adoption can also be attributed to the increasingly stringent regulatory norms by statutory bodies such as the US FDA regarding the safety of innovative biopharmaceuticals. For instance, Epidolex is the only CBD based medicine that has received formal approval from the FDA to be sold as an over the counter drug.
The legalization of hemp farming by the US has created a spurt in the number of research initiatives in developing hemp based medicinal drugs. This also contributes to the growing demand for biological safety testing products.
This FMI study, in addition to highlighting the crucial role of market factors in the growth of the biological safety testing market amid battling the COVID-19 pandemic, offers information on the developments in the competitive landscape.
Key players covered in the market study are, Charles River Laboratories International Inc., Lonza Group, Sigma-Aldrich Corporation, Wuxi Pharmatech (Cayman) Inc., Merck & Co. Inc., SGS S.A., Avance Biosciences Inc., Toxikon Corporation, Cytovance Biologics, Inc., and Bsl Bioservice.
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