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(Health-NewsWire.Net, July 18, 2020 ) 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.
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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• Based on product, the market is segmented into kits and reagents, instruments, and services. The kits and reagents segment are the largest and the fastest-growing product segment in the sterility testing market. The large share of the kits and reagents segment can be attributed to the requirement of the repeat purchase of these products, coupled with the increasing preference for kit-based testing.
• Based on test, the market is segmented into membrane filtration, direct inoculation, and other sterility tests. The membrane filtration segment is estimated to account for the largest share of the sterility testing market in 2016. The large share of this segment can primarily be attributed to rapid growth in the pharmaceutical and biotechnology end-use industry.
• Based on application, the market is segmented into pharmaceutical and biological manufacturing, medical devices manufacturing, and other applications. The pharmaceutical and biological manufacturing segment is projected to witness the highest growth in this market due to the rapid growth in the pharma and biotech industries.
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), Nelson Laboratories (U.S.), Danaher Corporation (U.S.), Pacific Biolabs (U.S.), Toxikon Corporation (U.S.), and Thermo Fisher Scientific, Inc. (U.S.).
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Market 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
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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