Sterility Testing Market 2018 Product Type Instruments, Services | Growth Overview and Segmentation Analysis by MRFR till 2023

Market Research Future published a research report on Sterility Testing Market. By Major Industry Trends, Worldwide Business Analysis, Major Segments and Sub segments. Sterility Testing Market to Touch USD 1,245.2 Million by 2023.

The global sterility testing market size is expected to touch USD 1,245.2 million by 2023 owing to rising sales of cars. Market Research Future’s (MRFR) latest study reveals that the market is predicted an 11.7% CAGR during the forecast period (2017–2023). 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.

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.

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Top Players:

Bioquell

Belimed Deutschland

Baxter BioPharma Solutions

Charles River Laboratories

Boston Scientific Corporation

BioMérieux

SGS SA

And others.

Global Market for Sterility Testing – Segmental Analysis

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.

Regional Outlook:

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.

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This release was published on openPR.