Efficacy Testing Market Opportunities, Demand, Scope and Forecast 2028

According to Precision Business Insights (PBI), the latest report, the efficacy testing market is expected to be valued at USD 446.4 million in 2022, growing at a 6.4% CAGR from 2022 to 2028. The primary driver of the expansion of the global Efficacy Testing market is the increasing patient population across the globe which resulted in regulations for the safety and efficacy of pharmaceutical products, increasing investments and funds from governments worldwide in the pharmaceutical and biotechnology sectors.

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Disinfectant Efficacy Testing Segment to Dominate the Efficacy Testing Market:
Based on the type, the disinfectant efficacy testing segment accounted for a significant share of the efficacy testing market in past years and is expected to dominate its share in the market. Rising awareness of environmental & personal cleanliness has resulted in increased production and demand of surface disinfectants. Also, technological advancements and rising R&D investments by prominent players to offer novel technologies in the efficacy testing market are factors that further push the growth of the disinfectant efficacy segment.

Asia Pacific Efficacy Testing Market:
The Asia Pacific market is expected to increase in the global Efficacy Testing market over the forecast period. It is projected to grow significantly owing to the high R&D investments, the presence of prominent players in this market, and increasing outsourcing of analytical testing (including efficacy testing) by pharmaceuticals and cosmetic corporations in the region. The Asia Pacific has also witnessed a considerable growth rate in upcoming years due to the rapidly increasing aging population and the rising patient population, growing per capita income, and rising awareness about healthcare products, and making investments in advanced healthcare facilities.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Efficacy Testing market further reveals that the key players are 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.

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The efficacy testing market is segmented based on product and services, type, application, and geography.
Based on the product and services, the market is segmented into the following:
• Consumables
• Service

Based on the type, the market is segmented into the following:
• Antimicrobial Efficacy Testing
• Disinfectant Efficacy Testing
• Others

Based on the application, the market is segmented into the following:
• Pharmaceutical Manufacturing
• Cosmetic
• Personal Care Products
• Others

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

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Key players' profiles in the efficacy testing market report are Charles River Laboratories (US), WuXi AppTec (China), Eurofins Scientific (Luxembourg), SGS (Switzerland), Intertek Group (UK), Microbac Laboratories, Inc. (US), Almac Group (UK), North American Science Associates, Inc. (US), Toxikon (US), Pacific Biolabs (US).

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This release was published on openPR.