Sterility Testing: Growing Pharmaceutical Industry and Increase in The R&D In Life Science will Boost The Global Market Growth at a CAGR of 12.3% During The Forecast Period 2017-2023

Pune, India, February, 2018 /MRFR Press Release/- Market Research Future has a half cooked research report on the global sterility testing market.

Market Highlights

Sterility Testing is considered as vital part of healthcare industries. Sterility ensures that the product is of superior quality. Sterility testing has found its application in cell banks and drug testing. All the drugs, medical devices, substance or any parenteral intended for human use need to be sterile in order to avoid any infection or contamination. There is an impressive growth of pharmaceutical and biotech sector in last decade. This has a synergetic impact on the sterility testing market.  Standard operating procedures are provided by different types of pharmacopoeias like Europe Pharmacopoeia, USP, BP, IP and all the procedures must be followed as per these standard reference books. Increasing prevalence of diseases and increasing number of pharmaceutical companies lead the sterility testing market significantly. Increasing introduction of new drugs and because of various governmental support, the sterility market is increased in recent years. Moreover, increasing healthcare expenditure and rising government support for research and development have fuelled the market growth from the past few years. However, long approval time and need of proper environmental condition may slow the market growth.

The global Sterility testing market is expected to grow at a CAGR of 12.3 % during the forecast period 2017-2023.

Regional Analysis

The Americas dominate the global Sterility testing market owing to the development of new drugs and government support for research & development. Every year various drugs are introduced by the companies in the market and these companies involve in in depth research for introducing the best products to leads the market.

Europe holds the second largest share of the global Sterility testing market as result of Increase in the number of small and medium organization in healthcare sector and focus of various government agencies. Moreover, the growing public awareness likely to boost the Europe market.

Asia Pacific is the fastest growing Sterility testing market across the globe. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development projected to drive the market in China and India over the forecasted period. Recent economic data suggest that China and Southeast Asia are poised to join the ranks of the high-growth Asian economies such as Korea and Taiwan.

The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities and lower government support.

Segmentation

Global sterility testing market is segmented on the basis of product, types of test, application, and end user. On basis of type of product, the market is segmented into instrument, reagent & services, kits, and others. On the basis of type of tests, the market is segmented into membrane filtration sterility testing, direct incubation sterility testing, direct transfer, and others. On application, the market is segmented into pharmaceutical & biological manufacturing, medical devices manufacturing, and others. On the basis of end user, the market is segmented into pharmaceuticals, hospital & laboratories, and other.

Key Players

Some of the major player in the market are Avance Biosciences (U.S.), Boston Scientific Corporation (U.S.), Paragon Bioservices, Inc (U.S.), Merck KGaA (Germany), Thermo Fisher Scientific, Inc. (U.S.), Charles River Laboratories International, Inc. (U.S.), Avista Pharma Solutions (U.S.), and Dynalabs LLC. (U.S.), WuXi AppTec Group (China), bioMérieux SA (France), SGS S.A. (Switzerland)

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