Rapid Sterility Testing Market to Grow at CAGR of 13.4% By 2023 | Global Business Insight, Size, Trends, Top Leaders
Rapid Sterility Testing Research Report by Product (Kits & Reagents, Instruments, Services), Technology (Membrane Filtration, ATP Bioluminescence)-Global Forecast till 2023
Pune, India – October 8, 2019 /MarketersMedia/ —
Rapid Sterility Testing Market Insights
The global rapid sterility testing market, as published by Market Research Future (MFRF), reported that this market is expected to leap from its market valuation of USD 158 million in 2017 at a CAGR of 13.4% during the forecast period (2018-2023).
Rapid sterility is considered as prolific testing that has the ability to detect microbial contamination spotted in a biological sample. It is an alternate method for testing sterility and is widely used in sectors such as pharmaceutical, biotechnology, and medical devices. It has also shown its ability for testing sensitivity when there is a need for control of devices.
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Global Rapid Sterility Testing Market: Drivers & Trends
The rapid sterility testing market witnessed gradual growth over the years due to increasing research & development expense and launching of new products. The advanced technological base of sterility testing such as ATP bioluminescence, colorimetric growth detection, and autofluorescence detection has led to a higher approval rate of this testing procedure. The rising investment is enforcing in research and development of the healthcare sector, along with demand for the cutting-edge product from the pharmaceutical sectors, are considered as another factor driving the rapid sterility testing market’s progress positively.
Competitors in the market are investing heavily in the launching of products for rapid sterility testing, with the aim to take the global rapid sterility market towards growth. On the flip side, the rapid sterility testing market could get hindered due to the factors such as the high cost of product and availability of alternative methods can hold back the market growth.
Rapid Sterility Testing Market Segmentation
The global rapid sterility market has been segmented into product, technology, and application.
In terms of product, this market segment comprises of kits & reagents, instruments, and services. Wherein, the kits & reagents segment is anticipated to account for the largest share of the market in the forecast period.
In terms of technology, the market has been segmented into membrane filtration, ATP bioluminescence, and other technologies.
In terms of application, the market has been segmented into pharmaceutical and biological manufacturing, medical device manufacturing, other end users.
Rapid Sterility Testing Market Regional Outlook
The global rapid sterility market is segmented through the regions of the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Among these regions, the Americas has portrayed to be the leader in global rapid sterility testing market with a promising CAGR due to the quick growth of healthcare sectors, increased research & development expenses as well as the presence of well-established market players having control in keeping a key share of the market.
Furthermore, the Asia Pacific region has observed the fastest growth of the market, particularly in countries such as China, Japan, Republic of Korea, India, and Australia. The increasing adoption of testing products has attracted many market players to come into the lucrative market of Asia Pacific, which is fueling the market.
Whereas, the Middle East & Africa has anticipated to observe the least share of the market over the forecast period.
Rapid Sterility Testing Market Key Players
Charles River Laboratories, Inc. (US), Gibraltar Laboratories (US), Merck KGaA (Germany), Rapid Micro Biosystems, Inc. (US), bioMérieux (France), Eurofins Scientific (Luxembourg), Becton, Dickinson, and Company (US), FOCUS Laboratories (US), Sartorius AG (Germany), and Thermo Fisher Scientific (US) are some of the prominent market players in the global rapid sterility testing market.
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