- Report ID: BMRC 621 | Number of pages: 193 | Publish Date: Feb 2020
Status: Published | Category: Medical Device | Delivery Timeline:
"Global Sterility Testing Market is valued at USD 657.1 Million in 2018 and expected to reach USD 1470.8 Million by 2025 with the CAGR of 12.2% over the forecast period."
Increasing the growth of the pharmaceutical and biotechnology industries and surge in advanced new drugs are the major factors expected to drive the growth of the Global Sterility Testing Market.
Sterility Testing is a testing which confirms that products are free from the presence of viable microorganisms. Sterility testing is important for medical devices, pharmaceuticals, preparations, tissue materials and other materials that claim to be sterile or free from viable microorganisms. Sterility also depends on procedural methods that effectively prevent contamination of biological materials like clean room technology and other good manufacturing practices. Tests for viral contaminants, which are normally laid out in individual product requirements, are more complex and expensive. According to world health organization, the sterility testing procedures are applicable across a good range of biological medicinal products including vaccines, blood products, biotechnology products and cell and tissue products.
Global Sterility Testing Market report is segmented on the basis of product type, application and regional & country level. Based upon product type, sterility testing market is classified into direct inoculation, membrane filtration and others. Based upon application, sterility testing market is classified into medical, pharmaceutical, biological and others.
The regions covered in this global sterility testing market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level market of sterility testing is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Sterility Testing market Report covers prominent players are like,
Increasing Growth of Pharmaceutical and Biotechnology Industries and Surge in Advanced New Drugs are the Major Factors Expected to Drive the Growth of Global Sterility Testing Market.
Growth of pharmaceutical & biotechnology companies and increasing number of drug launches are the factors which are expected to drive the growth of sterility testing Market. Biotechnology has emerged as an important growth sector in pharmaceuticals. Pharmaceutical companies have made increasing use of biotechnology in discovering and manufacturing new medicines. In 2018, the funding for biotech ventures was at its highest, compared to previous years. According to statistics biotechnology, funding for startups was at USD 8 billion in 2018, compared to USD 4 billion in 2017.
The investment in biotechnology statistics shows that biotechnology markets are increasing worldwide. According to the 2015 Organization for Economic Co-operation and Development (OECD) report on biotechnology statistics; the U.S. has 11,367 biotech firms followed by 2,831 in Spain and 1,950 in France. Growing approvals from the regulatory bodies are surging the launch of new drugs and several products, which is also expected to fuel the market in the coming years. According to Chemical & Engineering News, although pharmaceutical companies last year were unable to top the record-shattering 59 new drugs approved in the U.S. in 2018, they were still on a roll. In 2019, the Food and Drug Administration in North America, The 48 medicines represent another highly productive year for the pharmaceutical industry, with cancer and rare-disease drugs.
However, stringent regulatory frameworks and time-consuming approval processes are the factors which may hamper the market growth. In spite of that, innovative technologies, the advanced healthcare infrastructure and rising R&D expenditure are expected to create various opportunities for the further growth of the global sterility testing market.
North America is Expected to Dominate the Global Sterility Testing Market
North America is expected to dominate the global sterility testing market owing to the increasing government support for pharmaceutical and biotechnology industries and rising demand for sterilized products in this region. The government is taking a number of initiatives to help pharma companies and up gradation assistance scheme to support the pharma industry. According to biotechnology industry data survey, the Canadian biotechnology sector has an aggressive R&D agenda and high expectations for bringing new products to market over the coming years. In 2017, a majority (54%) of respondents identified their companies as operating at an emerging phase of development, while 22% identified themselves in the growth phase. Europe is the second largest region in this market due to the increasing R&D investment in life sciences in this region.
Key Benefits for Global Sterility Testing Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
By Product Types: Direct Inoculation, Membrane Filtration, Others
By Applications: Medical, Pharmaceutical, Biological, Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Sterility Testing Market 2020 By Product Types (Direct Inoculation, Membrane Filtration, Others), By Applications (Medical, Pharmaceutical, Biological, Others ) Forecast to 2025