(I-BusinessNews.Com, July 02, 2021 ) 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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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. On the other hand, the high degree of market consolidation is a major factor restraining the growth of this market.
On the basis of application, the sterility testing market is segmented into pharmaceutical and biological manufacturing, medical devices manufacturing, and others applications. In 2016, the pharmaceutical and biological manufacturing segment is expected to account for the largest share primarily due to the rapid growth in the pharma and biotech industries.
On the basis of test, the sterility testing market is segmented into membrane filtration, direct inoculation, and other sterility tests. In 2016, the membrane filtration segment accounted for the largest share. The large share of this segment can primarily be attributed to rapid growth in the pharmaceutical and biotechnology end-use industry.
On the basis of product, the sterility testing market is segmented into kits and reagents, instruments, and services. The kits and reagents segment is expected to account for the largest share of the 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.
On the basis of region, the global sterility testing market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The Asian market will witness the highest growth during the forecast period, primarily due to the increasing expenditure on life science research in the region and growing trend of pharmaceutical outsourcing to Asian countries like India and China.
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Some of the major players operating in the pharmaceutical sterility testing market are 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.).
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