Sterility Testing Market Was Valued at USD 972.6 Million in 2021 Owing to Increasing Number of Pharmaceutical and Biological Manufacturing Facilities

According to Precision Business Insights (PBI), the latest report the global sterility testing market is valued at USD 972.6 million in 2021. The global sterility testing market is segmented into the following types: By Product Type (Instruments, Kits and Reagents, and Services), By Test Type (Membrane Filtration, Direct Inoculation, and Other Sterility Tests), By Application (Pharmaceutical and Biological Manufacturing, Medical Devices Manufacturing, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East Africa) Forecast to 2028. Key player's profiles in the sterility testing market report are Merck KGaA, Baxter, Boston Analytical, Neopharm Labs Inc, LexaMed, Danaher Corporation, Sartorius AG, Pace Analytical Services, Inc., Pacific Biolabs, Thermo Fisher Scientific Inc, Wuxi Apptec, Rapid Micro Biosystems, Inc. Growing government support for the pharmaceutical and biotechnology industries creates demand for the sterility testing market. Increased research and development in life sciences coupled with huge public and private funding in this sector are boosting the growth of the global sterility testing market.

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Pharmaceutical And Biological Manufacturing Dominate the Sterility Testing Market:
The pharmaceutical and biological manufacturing segment is anticipated to account for the most significant proportion of the sterility testing market by 2028, based on application. This surge is due to increased regulatory intervention as sterility testing procedures become more important in pharmaceutical production. Several regulators have developed a variety of scientifically acceptable and product-specific standards to ensure that these harmonized methodologies are followed and that needless risk is avoided, resulting in a segmental expansion in the coming years.

North America Leads Sterility Testing Market:
North America's sterility testing market share is projected to record commendable growth through 2028. This is due to the rising advocation of sterility testing methods by regulators in the region and rising research and development activities. The enlarging count of drug approvals in North America is predicted to set the tone of the regional market for sterility testing. The government is taking initiatives to help pharma companies and support pharma industries in North America. The market in Asia-Pacific is projected to be the fastest growing owing to the increasing expenditure on life science research in the region and the growing trend of pharmaceutical outsourcing to Asian countries like India and China.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global sterility testing market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In December 2021, Baxter International Inc. a global MedTech leader, announced it has completed its acquisition of Hillrom. Baxter paid $156.00 in cash for each outstanding share of Hillrom common stock for a purchase price of X billion (based on Hillrom share counts at closing). Including the assumption of Hillrom's outstanding debt obligations, the enterprise value of the transaction is approximately $12.5 billion.

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Detailed Segmentation
Based on the Product Type, the market is segmented into the following:
• Instruments
• Kits and Reagents
• Services

Based on the Test type, the market is segmented into the following:
• Membrane Filtration
• Direct Inoculation
• Other Sterility Tests

Based on the end-user, the market is segmented into the following:
• Pharmaceutical and Biological Manufacturing
• Medical Devices Manufacturing
• Other Applications

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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This release was published on openPR.