Market Research Future has Discovered that the Global Sterility Testing Market is on track to witness growth at a striking CAGR of 11.7% during the review period from 2019 to 2023.
Sterility Testing Market – Highlights
Global Sterility Testing Market size is expected to touch USD 1,245.2 million by 2023 owing to rising sales of cars. High prevalence of chronic diseases and cardiovascular maladies is the primary factor driving market growth. Booming pharmaceutical and biotechnology sectors, funding provided by governments, and rising investments in the life science sector are other factors expected to elicit market demand over the forecast period.
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Demand for sterile drugs is creating opportunities for manufacturers and distributors. In addition, demand for effective vaccines to combat chronic maladies is anticipated to bode well for the market. Development of filtration systems to expedite drug development can positively impact the market. For instance, Merck launched the Stericup Quick Release system in 2017 for faster filtration of reagents, buffers, and media.
Top Players:
Some of the key players profiled in the market report include Boston Scientific Corporation, Pacific BioLabs Inc., Becton, Dickinson and Company, Sartorius AG, Charles River Laboratories Inc., Belimed Deutschland GmbH, Merck KGaA, Thermo Fisher Scientific Inc., Astell Scientific, WuXi AppTec, Baxter BioPharma Solutions, Bioquell U.K. Ltd., SGS SA, BioMérieux SA, and others. Acquisitions, collaborations, and launch of new products are strategies employed by these players to acquire a larger market share.
Regional Analysis:
The sterility testing market, on the basis of region, is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA). The Americas are expected to dominate the global market owing to the large patient population and demand for sterile drugs. Growth witnessed in domestic biotechnology and pharmaceutical sectors coupled with increased healthcare spending allotted to states are factors anticipated to fuel market growth over the forecast period.
Europe is predicted to be the second largest market, followed by APAC. Presence of well-established healthcare infrastructure, huge patient pool, and investments in life sciences can elicit huge market demand during the forecast period. Developed nations such as France, the U.K., and Italy are expected to contribute to overall market revenue.
The APAC sterility testing market is projected to showcase a robust CAGR over the forecast period owing to strong economies of Indian and China. It can enjoy good market demand owing to the presence of various contract manufacturing organizations.
The MEA market commands a smaller market share compared to others owing to stringent government policies and less emphasis on healthcare expenditure. The Middle East region is highly lucrative owing to the presence of nations such as Kuwait, Dubai, Qatar, and others.
Segmentation:
MRFR’s report offers a detailed segmental analysis of the market based on product type, test type, end-user, and region. By product type, the market has been segmented into consumables, instruments, and services. Services are further segmented into stability testing, sterility assurance tests, cleaning and disinfection, and sterility validations. The sterility assurance test segment is anticipated to be worth USD 151.6 million by 2023.
By test type, the market is segmented into product flush sterility testing, direct transfer sterility testing, membrane filtration sterility testing, and others. The membrane filtration sterility testing segment can touch a valuation of USD 348.6 million by 2023. Membrane filtration is a method used in filtering microorganisms or bacteria capable of infecting solutions. Benefits such as testing in large volumes and inhibiting bacterial growth are expected to spur segment growth till 2023.
Major end-users include academic and research laboratories, hospitals and clinics, pharmaceutical companies, and others. The pharmaceutical companies segment is projected to register a 12.1% CAGR over the forecast period. Rising demand for sterile injectables is expected to fuel segment demand.
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