Sterility Testing Market Projected to Reach at 12.5% CAGR Till 2023 | Key Players - MERCK KGAA, CHARLES RIVER LABORATORIES INTERNATIONAL, BIOMERIEUX SA, SGS S.A., SARTORIUS AG, WUXI APPTEC, AND THERMO FISHER SCIENTIFIC

The Sterility Testing Market is expected to witness a CAGR of 12.5%, during the forecast period. The key players in the market are focusing on the product launches to strengthen their foothold in the market.

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Increase Number of Drug Launches
The number of drug approvals and new drug launches in North America is increasing over the years. In 2015, FDA Center for Drug Evaluation and Research has approved around 45 novel drugs as new molecular entities under the New Drug Applications (NDAs). The statistics shows that the number of the new drug launches is increasing over the years, which is likely to impact positively on the growth of sterility testing market.
The other factors also include increasing R&D in life science research and rise in demand for sterilized products and their exclusivity in the healthcare industry.

Key Developments in the Market
February 2018 - Merck Launched Viresolve Barrier Capsule Filters to Protect Against Bioreactor Contamination

Major players –
MERCK KGAA, CHARLES RIVER LABORATORIES INTERNATIONAL, BIOMERIEUX SA, SGS S.A., SARTORIUS AG, WUXI APPTEC, AND THERMO FISHER SCIENTIFIC, amongst others.

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Stringent Regulatory Framework
The sterility testing market has stringent regulatory frameworks, which lead to the lengthy approval process of the drugs, which causes huge capital investment from key players in stringent regulatory device approval process. Therefore, due to the stringent regulatory framework the market is likely to get restrained.
The high degree of market consolidation is also a major factor, which is restraining the growth of this market.

Asia Pacific is expected to dominate the Market
Sterility testing market is being dominated by North America, which is followed by Europe and Asia. The Asian market will witness the highest growth in the coming future, primarily due to the increasing expenditure on life science research in the region.

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