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Pharma Microbiology Testing Kits Market Size, Growth, Share And Forecast 2024-2033
Pharma Microbiology Testing Kits Market Size
According to The Business Research Company's, The pharma microbiology testing kits market size has grown strongly in recent years. It will grow from $6.25 billion in 2023 to $6.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to growing demand for pharmaceuticals, increasing prevalence of infectious diseases, rising globalization, rising awareness of the importance of pharma microbiology testing, globalization of pharmaceutical production.
The pharma microbiology testing kits market size is expected to see strongly grown in the next few years. It will grow to $9.72 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to increasing use of automation in pharma microbiology testing, rising investment in pharma microbiology testing research and development, growing adoption of new technologies in pharma microbiology testing, biopharmaceutical manufacturing, personalized medicine. Major trends in the forecast period include rapid microbial testing, point-of-care testing, single-use systems, digital integration, biosafety and biosecurity.
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Market Drivers and Trends:
The rise in the incidence of infectious diseases is one of the prime drivers of the pharma microbiology testing kits market. According to CDC (Centre for Disease Control and Prevention), infectious diseases such as Hepatitis A, B, and C, sexually transmitted diseases (STDs), and human immunodeficiency virus (HIV) are increasing their prevalence globally. WHO report indicated that there were about 1.4 million cases of Hepatitis A reported globally every year. Hence the increasing number of infectious disease cases due to infected needle injections, unprotected sex, homelessness, lack of access to medical care, and other socioeconomic challenges drive the pharma microbiology testing kits market.
Outsourcing of microbiological testing to contract testing laboratories is becoming popular in the pharma microbiology testing kits market. Outsourcing of routine microbiological testing activities controls and ensures better quality and safety of raw materials, intermediates, and finished products. The contract testing laboratories are outsourced with some testing areas such as stability testing, raw material testing, method validation, microbial testing, environmental monitoring, physical characterization, batch‐release testing, bioanalytical testing, and others. For instance, the global healthcare analytical testing market is projected to expand to $4.13 billion by 2021 at a growth rate of 11.3%.
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Major Key Players of the Market:
F. Hoffmann-La Roche AG; Becton Dickinson and Company; Abbott Laboratories; ThermoFisher Scientific; SGS SA; Toxikon Corp.; Pace Analytical Services; Boston Analytics; Charles River Laboratories International; Nelson Laboratories; Siemens healthcare AG; Hologic Inc.; Neogen Corporation; Shimadzu Corporation; Merck KGaA; Agilent TechnologiesInc.; QIAGEN N.V.; Bruker Corporation; bioMérieux SA; Lucideon; Lonza Group AG; MilliporeSigma; Hardy Diagnostics; Sartorius AG; 3M Company; Waters Corporation; PerkinElmer Inc.; Luminex Corporation
Pharma Microbiology Testing Kits Market 2024 Key Insights:
• The pharma microbiology testing kits market size will grow to $9.72 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Rising Incidence Of Infectious Diseases Fuels Growth
• Rising Trend Of Outsourcing In Pharma Microbiology Testing Kits Market
• North America was the largest region in the pharma microbiology testing kits market in 2023
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