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(Health-NewsWire.Net, February 15, 2020 ) According to the new market research report sterility testing market is expected to reach USD 941.0 Million by 2021 from USD 528.0 Million in 2016, at a CAGR of 12.3% from 2016 to 2021.
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Market Dynamics:
Drivers
• Growth of pharmaceutical & biotechnology companies
• Increasing number of drug launches
• Government support for pharmaceutical and biotechnology industries
• Increasing R&D investment in life sciences
Restraints
• High degree of consolidation, major barrier for new market entrants
• Stringent regulatory frameworks and time-consuming approval processes
Opportunities
• Emerging markets
• Increasingly pharmaceutical outsourcing
Challenges
• Shortage of skilled professionals
Growth in the pharmaceutical and biotechnology industries, increase in the number of new drug launches, and increasing R&D in life science research are the key factors driving the growth of this market. The market is further driven by factors such as increasing government support for pharmaceutical and biotechnology industries.
This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, and strategies impacting the sterility testing market, along with revenue estimates & forecasts and market share analysis.
Pharmaceutical and biological manufacturing
With stringent regulatory controls in place, process monitoring, and quality control are carried out for the entire production chain of pharmaceutical and biopharmaceutical products. In this process, sterility testing is carried out for raw materials, bulk lot release testing, and final product release testing.
Medical Device manufacturing
In the medical device industry, the product sterility test is necessary for ensuring that medical devices are free from viable microorganisms. Some of the important medical devices tested for sterility tests include catheters, needles, orthopedic implants, contact lenses, anesthetic and respiratory equipment, and dental implants.
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The major players in the sterility testing market include Merck KGaA (Germany), Charles River Laboratories International, Inc. (U.S.), bioMérieux SA (France), SGS S.A. (Switzerland), Sartorius AG (Germany), WuXi AppTec (China), and Thermo Fisher Scientific, Inc. (U.S.). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.
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