Growth of pharmaceutical & biotechnology companies, increasing number of drug launches, government support for pharmaceutical and biotechnology industries
NEW YORK, NEW YORK, UNITED STATES, September 27, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global Sterility Testing market was valued at USD 594.9 Million in 2020 and is expected to reach USD 1,453.5 Million by the year 2028, at a CAGR of 12.4%. Sterility testing is an assessment of the product/surface to determine the presence of the microorganism in a given sample. This process plays a crucial role throughout the drug development and production process. Sterility testing studies help analyze the effectiveness of each step of the manufacturing process to remove or detect microbial contamination. Sterility testing is carried out at all manufacturing levels in the pharmaceutical and biopharmaceutical industries to minimize the risk of product contamination. It is carried out in a wide range of fields, including pharmaceuticals and biologicals, medical devices, water purification, biopharmaceutical, and laboratory glass products. In this type of testing, the product or raw materials to be monitored are incubated in the medium (FTM/SCDM) and then examined. Assessment of large equipment/containers or hollow devices is carried out by using the product flush method, or the sample is extracted from the required surface and is then filtered through the membrane. Rapid sterility method is the new advanced methodology used, which provide a quick result (3-4 times faster than the traditional tests). A substantial increase in pharmaceutical outsourcing during previous years due to the high costs associated with the setup of the testing infrastructure. It is anticipated to be an excellent opportunity for the players in the market to procure the untapped market potentials.
Companies are highly focused on research and development to bring more reliable products with less turnaround time making the market highly competitive and posing a threat to the companies operating on the conventional approach. Moreover, Biotechnology is one of the most sophisticated industries in the healthcare sector. According to the International Trade Administration, U.S. Department of Commerce, the worldwide pharmaceutical market is expected to rise from USD 1 trillion in 2015 to USD 1.3 trillion by 2020. The sterility monitoring market will be strengthened by strong growth in the pharmaceutical and biopharmaceutical industries.
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Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.
Further key findings from the report suggest
Several industry players are focusing on expanding the product portfolio in the field. For instance, Merck one of the leading provider of sterility testing device, launched its new sterility testing device- Steritest NEO. Charles River Laboratories International, Inc. in 2019 announced the launch of two new products in its microbial solutions portfolio. Thus helping the sterility testing of the products with its new technology. WuXi AppTec in November 2020, announced its new medical device laboratory testing center opened in Suzhou, China to form a globally integrated medical device testing platform to serve medical device customers and offer sterility testing services
Various key players are focused in developing the advanced technologies in testing sterility for wide application area. For instance, recently Alcami Corp. has launched its new rapid sterility offering, a service that leverages cutting-edge microbiological testing technology to deliver faster testing results
During 2019-2028, sterility testing market is expected to register a CAGR of 13.3% in Asia Pacific; followed by North America and Europe, with 12.4% and 12.1% CAGR, respectively. Increasing drug release in developed as well as developing nation and favorable government policies for sterility testing are key factors driving the market demand
The membrane filtration system test method of sterility testing segment dominates the field with highest market share in the year 2020. It is estimated to grow at a CAGR of 12.4% during the forecast period to reach USD 616.7 million by 2028
Based on application segment, raw materials sterility testing is expected to account for the CAGR 12.8% of the global market, as drastically growing incidences of raw material contamination across the world
Asia Pacific is expected to account for the CAGR 13.3% of the global sterility testing market. Developing nations such China, and India are likely to witness high growth due to presence of target population, rising industrial globalization and increased healthcare expenditure and growing R&D investment
Based on end use biopharmaceutical & pharmaceutical companies dominate the total market share of sterility testing. Due to the growth registered in pharmaceutical & biotechnology companies
Time-consuming and stringent regulatory standards are the key factors likely to hamper growth of the sterility testing market
Key participants include Charles River, Merck KGaA, Biomérieux SA, SGS S.A., Danaher Corporation, Nelson Laboratories, Pacific Biolabs, Thermo Fisher Scientific Inc., Sartorius AG, Toxikon Corporation, Wuxi Apptec, Eurofins Scientific
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For the purpose of this report, Reports and Data has segmented the sterility testing market on the basis of test methods, applications, end use and region:
Test Methods Outlook (Revenue, USD Million; 2018-2028)
Membrane Filtration System Sterility Test
Key Market Players
Direct Transfer Sterility Testing
Key Market Players
Product Flush Sterility Testing
Key Market Players
Applications Outlook (Revenue, USD Million; 2018-2028)
Packaging/Bulk Finished Products
End Use Outlook (Revenue, USD Million; 2018-2028)
Biopharmaceutical & Pharmaceutical Companies
Contract Research Organization (CRO)
Contract Manufacturing Organization (CMO)
Academic Research Institutes
Key Regional Markets Studied in the Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Major Highlights of the Sterility Testing Market Report:
The Sterility Testing market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Sterility Testing market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
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Source: EIN Presswire