Global Sterility Testing Market Expected to Expand at a Significant Growth Rate, Forecast by 2024
The global sterility testing market is growing at a significant rate due to the evolution of pharmaceutical & biotechnology companies, a mounting number of drug introductions. Different products such as instruments, kits & reagents, and services contributed to the sterility testing market size. The market has witnessed a high demand for kits & reagents in the coming years due to a mounting inclination for kit-based testing and requirement of the frequent consumption of these products.
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Evolution of pharmaceutical & biotechnology companies, a mounting number of drug introductions, the escalating occurrence of chronic diseases, government assistance for pharmaceutical and biotechnology industries, and expanding research and development assets in life sciences are the primary growth drivers for sterility testing market. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2012, approximately 117 million people in the U.S. had one of the more chronic conditions.
Geographically, North America is the largest sterility testing market as in the region the new biopharmaceutical companies are established, and pharmaceutical and biotechnology industries occupied in vigorous research and development activities. In addition, the intensifying need for sterility testing, mounting healthcare expenditure, the presence of active healthcare system, and primary acceptance for advanced technology are also up surging growth of the North American sterility testing market.
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Asia-Pacific is observed to witness the fastest growth in the market, due to mounting expenditure on life science research, and growing biopharmaceutical manufacturers. In addition, the intensifying occurrence of chronic diseases, a supportive regulatory environment, and the budding inclination of pharmaceutical outsourcing are also creating a positive impact on the sterility testing market growth in the region.
Key players in the sterility testing market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. Merck KGaA, SGS S.A, Pacific Biolabs, Thermo Fisher Scientific Inc., Charles River Laboratories International, Inc., Sartorius AG, Biomérieux SA, and Wuxi Apptec are the key players offering sterility testing products.
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