Published on : Apr 10, 2018
Albany, New York, April 10, 2018: A new research, analyzing the current and future prospects of the market for sterility testing has been publicized to the vast repository of Market Research Hub (MRH), with the title of “Sterility Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”. This 192-page research study offers a complete outlook on global sterility testing market’s evolution throughout the above-mentioned forecast period in terms of revenue (in US$ Mn). As per the analyst's findings, the market for sterility testing is in developing stage. In 2016, the market was valued at US$ 750.0 Mn and is projected to witness a compound annual growth rate of over 7.0 % from 2017 to 2025 to outstrip the value of US$ 1500.0 Bn by 2025
Market Overview and Key Insights
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the sterility testing market along with porter’s analysis, of the global market has been explained in the study. Initially, the report gives readers a brief introduction of sterility testing. Sterility testing is used to identify the presence or absence of microorganisms in biological parenteral designed for human use. Advances in technology in the past few years have empowered the development of new sterility test methods that yield accurate and reliable test results in less time. This factor has majorly contributed towards the market growth of sterility testing.
Apart from the above elements, growth of the sterility testing market is attributed to rising population, increase in healthcare expenditure, favorable healthcare insurance coverage, rising prevalence of chronic and rare diseases.
For a clear understanding of the market, the report has been categorized into various segments and sub-segments which covers all aspects of the market. Major segments include product type, by application, by test type and by region. In terms of geography, it is anticipated that North America will continue to lead in the market and this growth is majorly attributed to the establishment of several new pharmaceutical companies as well as a growing demand for sterility testing.
In terms of product type, the global market is categorized into kits and reagents, instruments and others. Based on application, the global market is categorized into biopharmaceutical manufacturing, medical devices manufacturing and others. In terms of test type, the sterility testing is segmented into traditional sterility tests and rapid sterility tests. Out of these two, traditional sterility testing is the most lucrative test type segment.
At last, the study comprises the competition landscape, which features important players operating in the global market and contains important information about these companies. Key market players profiled in this report include Merck KGaA, bioMérieux, Inc, Thermo Fisher Scientific Inc., Sartorius AG among others.
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