Pune, India, May 28, 2019 (GLOBE NEWSWIRE) -- The global sterility testing market is predicted to touch USD 1,245.2 million by 2023 from USD 575 million in 2016, expanding at an astounding CAGR of 11.7% during the assessment period (2017-2023), according to the latest research report from Market Research Future (MRFR). The global sterility testing market is mainly driven by the growing government investment and support to the clinical research sector, which has resulted in a growing number of new drugs coming on to the market. The growing pharmaceuticals industry is likely to be the major driver for the global sterility testing market over the forecast period.
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Sterility testing is a vital step in the marketing of medical devices, tissue products, drugs, and other medical products that claim to be free from the presence of microorganisms. Many governments around the world have made it mandatory to undergo stringent sterility testing before marketing any new drugs, which has been a major driver for the global sterility testing market in recent years. The growing government support is likely to be a major driver for the global sterility testing market over the forecast period. The risk posed by contamination is too high, as the medical products may be intended for consumption or usage in sterile environments, which may get contaminated as a result. This has driven government interest in promoting sterility testing, which is likely to remain a key driver for the global sterility testing market over the forecast period.
The growing medical research sector around the world is likely to be a major driver for the global sterility testing market. The growth of the medical research sector around the world has driven the demand for beakers, petri dishes, and other instruments used in research processes. These instruments have to be sterile, or else the presence of other microbes may alter the test results and completely ruin the experiments being performed. The importance of sterility testing in terms of providing medical researchers with reliable, accurate results is likely to drive the global sterility testing market over the forecast period. The growing government support to the expansion of the medical research sector in developed as well as developing economies is likely to be a major driver for the global sterility testing market over the forecast period.
Competitive Analysis:
Leading players in the global sterility testing market include Baxter BioPharma Solutions LLC, SGS SA, Thermo Fisher Scientific Inc., BD, BioMerieux SA, Charles River Laboratories Inc., and Merck KGaA.
Segmentation:
The global sterility testing market is segmented on the basis of product type, test type, end user, and region.
By product type, the market offers instruments, consumables, and services. The services segment is further sub-segmented into sterility assurance tests, sterilization validations, cleaning and disinfection, stability testing, and others. The sterility assurance tests segment is likely to dominate the global sterility testing market over the forecast period due to their frequent need in evaluating the sterility of pharmaceutical products and formulations. The sterility assurance tests segment was valued at USD 67.1 million in 2016. It is expected to rise to a valuation of USD 151.6 million by 2023.
By test type, the global Sterility Testing Market is segmented into membrane filtration sterility testing, product flush sterility testing, direct transfer sterility testing, and others. The membrane filtration sterility testing segment is likely to remain the leading contributor to the global sterility testing market over the forecast period, growing at a CAGR of 12.1% to a valuation of USD 348.6 million by 2023.
By end user, the global sterility testing market is segmented into pharmaceutical companies, hospitals and clinics, academic and research laboratories, and others. Pharmaceutical companies are likely to dominate the global sterility testing market over the forecast period due to the increasing demand for research into various diseases such as cancer, reaching a valuation of USD 428 million by 2023, at a CAGR of 12.1% over the assessment period.
Browse the market data and information spread across 115 pages with 86 data tables and 17 figures of the report “Sterility Testing Market - Forecast 2017-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/sterility-testing-market-547
Regional Analysis:
The Americas segment is the leading revenue generator in the global sterility testing market and is likely to remain in the position over the forecast period due to the high number of leading market players present in the region and the growing government support for expansion of the clinical research sector. The Americas accounted for 42.1% of the global sterility testing market in 2016.
Europe is also likely to remain a leading player in the global sterility testing market over the forecast period due to the growing government support to the use of sterility testing procedures in the clinical research sector.
Asia Pacific (APAC) is touted to display the highest growth rate of all the regional segments over the forecast period: 12.4%. The rapid growth of the healthcare sector in APAC is likely to present the sterility testing market in the region with promising growth opportunities. However, a lack of regulatory oversight could become a key restraint in the regional market over the forecast period. In May 2019, Bio-Med, a leading producer of polio vaccines, was charged for supplying adulterated and substandard vaccines in a government-run polio vaccination drive.
The Middle East and Africa is likely to hold the smallest share in the global sterility testing market over the forecast period due to the presence of low-income countries and the absence of high-end infrastructure required to run sterility testing processes.
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