Pharmaceutical Sterility Testing Market Size Projected to Grow at a CAGR of 11.3% During the Forecast Period 2021-2026
Increasing Number of Drug Introductions, the Escalating Incidence of Chronic Diseases Are Key Growth Factors for the Pharmaceutical Sterility Testing Market.
Hyderabad, India – June 30, 2021 /MarketersMedia/ —
Pharmaceutical Sterility Testing Market size is estimated at $1.1 billion in 2020, projected to grow at a CAGR of 11.3% during the forecast period 2021-2026. Microorganisms are investigated during pharmaceutical sterility research. Fungistasis and bacteriostasis monitoring were used in this sterility procedure. This test guarantees that the test article has an antimicrobial property that prevents microbial organisms from being detected. This test is carried out in a clean environment according to the instructions or using membrane filtration methods or Direct Inoculation with an isolator.
Pharmaceutical Sterility Testing Market Segment Analysis – By Type:
Based on Type, Pharmaceutical Sterility Testing Market is segmented into In-house and Outsourcing. Outsourcing accounted for the largest revenue market share in 2020 as customers are willing to spend more on health and wellness. Since some businesses lack the necessary resources to perform high-quality sterility testing, they tend to outsource these services. Outsourcing often saves time and money by eliminating the need for staff training and the procurement of sterility testing equipment.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=508524
Report Price: $5900 (Single User License)
Pharmaceutical Sterility Testing Market Segment Analysis – By Test Type:
Based on Test Type, Pharmaceutical Sterility Testing Market is segmented into Sterility Testing, Membrane Filtration, Direct Inoculation, Bioburden Testing and Bacterial Endotoxin Testing. Bacterial Endotoxin Testing accounted for the largest revenue market share in 2020 owing towards ongoing technological advancements in this segment.
The Bacterial Endotoxins Test (BET) is an in vitro assay that detects and quantifies bacterial endotoxins, which are a part of gram-negative bacteria’s cell wall. The BET is used in lot release testing for medical devices that come into contact with the cardiovascular system, lymphatic system, or cerebrospinal fluid directly or indirectly contributing to the segment’s rise thereby, driving the Pharmaceutical Sterility Testing Industry.
Pharmaceutical Sterility Testing Market Segment Analysis – By Geography:
Based on Geography, North America Pharmaceutical Sterility Testing Market accounted for the 40% revenue share in 2020 owing towards the presence of several key players in the region. For instance, Nelson Laboratories (US) announced the addition of a Technical Consulting Services division for MedTech companies to its service offerings in June 2014. Product production, facility and process validation, Bacterial Endotoxin Testing, product performance testing, Membrane Filtration, Direct Inoculation and regulatory support are among the services offered.
Furthermore, the involvement of regulatory bodies in this region is high which fuel the market growth. For instance, Nelson Laboratories (US) announced the addition of a Technical Consulting Services division for MedTech companies to its service offerings in June 2014. Product production, facility and process validation, product performance testing, and regulatory support are among the services offered driving the Pharmaceutical Sterility Testing Industry.
Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing towards technological advances and rising disposable income levels in developing countries such as China and India. Pharmaceutical Sterility Testing Industry is expanding in this region owing to developed countries growing regulatory standards harmonization with ICH standards. Furthermore, many developing economies in the region are taking steps to improve the domestic pharmaceutical market and are attracting multinational companies to set up shop in the region. Such programs would almost certainly lead to regional growth.
Pharmaceutical Sterility Testing Market – Drivers
The Growing Number Of Drug Launches & Growth Of Pharmaceutical Companies:
The key growth factors for the pharmaceutical sterility testing market are pharmaceutical company evolution, an increasing number of drug introductions, the escalating incidence of chronic diseases, government assistance for pharmaceutical. For instance, Merck KGaA introduced Steritest Symbio Pump systems accessories in September 2016. In any atmosphere, the accessories allow for faster and safer sterility checking.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=508524
Pharmaceutical Sterility Testing Market Challenges
Time-Consuming Approval Procedures And Strict Regulatory Structures:
The market’s growth is being stifled by certain stringent regulations placed on the regulatory system, as well as the need of lengthy approval processes. The approval process for a new player in the market is lengthy. Apart from that, the need for a large initial investment is likely to be a roadblock for new entrants, restricting market development. Also, the shortage of skilled professionals further hinders the market growth.
Pharmaceutical Sterility Testing Market Landscape:
The Pharmaceutical Sterility Testing Market’s main strategies include product releases, mergers and acquisitions, joint ventures, and regional expansion. Pharmaceutical Sterility Testing Market top 10 companies are Pace Analytical Services, LLC, Toxikon, Inc., Merck KGaA, Rapid Micro Biosystems, Sartorius AG, Solvias AG, SGS SA, Boston Analytical, bioMérieux, Inc. and Charles River Laboratories International, Inc.
Acquisitions/Product Launches
In August 2020, Pace Analytical Services, LLC acquired Emerson Resources Inc., which is a contract production and manufacturing organization (CDMO) that specializes in drug form development and clinical trial substance manufacturing for pharmaceutical companies. From early-stage research and development to phase 2 clinical trial materials processing, this acquisition helps pharmaceutical and biopharmaceutical clients.
Key Takeaways
Technological advances in sterility testing methods resulted in a decrease in procedural time and human interaction, increasing the test’s efficiency and accuracy, thereby, driving the Pharmaceutical Sterility Testing Industry.
Geographically, North America Pharmaceutical Sterility Testing Market held the largest revenue share of 40% in 2020 owing to government investments in the healthcare sector, increased R&D activities and drug launches, and a growing emphasis on quality and sterility.
Increased pharmaceutical outsourcing, the healthcare spending, and technical advancements in rapid sterility testing are all assisting the market’s development.
The Pharmaceutical Sterility Testing market is being driven by increased focus on safety and sterility, as well as increased R&D activities in the pharmaceutical sector and increased development and launch of drugs and medical device.
Related Reports :
A. Sterility Testing Market
https://www.industryarc.com/Research/Sterility-Testing-Market-Research-505652
B. Medical Outsourcing Market
https://www.industryarc.com/Report/4338/Medical-Outsourcing-Market-Research-Report.html
For more Lifesciences and Healthcare Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: (+1) 970-236-3677
Website: https://www.industryarc.com/
Source: MarketersMedia
Release ID: 89032223
Copyright © 1999-2013 SproutNews.com
