USD 161.18 million
Report ID:
SQMIG35A2169 |
Region:
Global |
Published Date: September, 2024
Pages:
219
|Tables:
86
|Figures:
76
Global Sterility Testing Market size was valued at around USD 1.1 billion in 2022 and is expected to rise from USD 1.2 billion in 2023 to reach a value of USD 2.7 billion by 2031, at a CAGR of 10.5% over the forecast period (2024–2031).
Rapidly increasing biopharmaceutical and pharmaceutical production around the world is forecasted to drive up the demand for sterility testing solutions and services. Imposition of strict regulations regarding sterility testing from governments and regulatory authorities will also present new opportunities for sterility testing companies in the long run. The growing popularity of outsourcing in the healthcare industry is also expected to present new revenue generation opportunities as per this sterility testing market outlook. High emphasis on improving quality assurance in the food and beverages industry will also increase the demand for sterility testing in the future. Advancements in sterility testing technologies and rising adoption of rapid sterility testing solutions and services are also estimated to create an opportune setting for market players across the study period and beyond. However, complex and time-consuming procedures, absence of skilled workforce, and variations in regulatory framework around the world are slated to slow down the demand for sterility testing in the future.
US Sterility Testing Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 161.18 million
Largest Segment
Membrane filtration sterility
Fastest Growth
Membrane filtration sterility
Growth Rate
12.6% CAGR
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Global Sterility Testing Market is segmented by Product & Services, Test Type, Application, End User, and region. Based on Product & Services, the market is segmented into Kits & Reagents, Services, Instruments. Based on Test type, the market is segmented into Membrane Filtration, Direct Inoculation, Other Tests. Based on Application, the market is segmented into Pharmaceuticals and Biologicals, Medical Devices, Other Applications. Based on End User, the market is segmented into Pharmaceutical Companies, Biotechnology Companies, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Sterility Testing Market Analysis by Product & Services
Kits and reagents are forecasted to account for a substantial chunk of the global sterility testing market share. Repetitive purchase and use of kits and reagents in sterility testing applications is allowing this segment to account for a dominant stance in the global sterility testing industry. Surging demand for sterility testing and the need for better reagents and fresh kits for every sterility testing procedure are also expected to generate more revenue for market players than other segments. Growing use of advanced reagents for better results in different types of products are also expected to help bolster the sales of kits and reagents in the long run.
Meanwhile, the demand for services is forecasted to increase at a rapid pace as per this sterility testing market outlook. Increasing popularity of outsourcing in the healthcare industry and growing emphasis on improving efficiency of sterility testing operations are projected to help this segment emerge as a highly opportune one in the global sterility testing market analysis. Providing sterility testing services to companies who lack the resources and time to do it themselves will boost market development potential and generate new business scope in the future. Increasing emphasis on reducing time to market for different healthcare products will also create new opportunities for sterility testing companies going forward.
Sterility Testing Market Analysis by End User
Pharmaceutical companies are predicted to spearhead the global sterility testing demand outlook across the study period. Growing demand for pharmaceutical manufacturing and increasing prevalence of chronic diseases are forecasted to help this segment maintain its dominance. Increasing investments in drug discovery and development are also estimated to aid sterility testing demand in this segment going forward. Imposition of stringent regulatory mandates to ensure sterility of pharmaceuticals will also create new opportunities for sterility testing providers focusing on this segment in the long run. Establishment of pharmaceutical manufacturing facilities and expansion of existing ones will also boost sterility testing demand through 2031.
On the other hand, the use of sterility testing in medical device companies is forecasted to rise at an impressive CAGR across the study period and beyond. Growing emphasis on ensuring proper sterility of medical devices to prevent the risk of cross contamination and hospital acquired infections (HAIs) will primarily help this segment bolster sterility testing adoption in the future. Advancements in medical device technologies and continual launches of new products are expected to provide sustained growth for sterility testing companies focusing on this segment in the long run.
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North America is predicted to spearhead the demand for sterility testing in the world. Growing healthcare research activity, presence of a strict regulatory framework mandating use of sterility testing, and the presence of key sterility testing companies are helping North America lead the global sterility testing market growth. Targeting the United States and Canada will offer good returns on investment for almost all sterility testing providers operating in this region. Rising incidence of infectious diseases in this region is also expected to create new opportunities for sterility testing providers going forward. Supportive government initiatives to promote safety in healthcare will also benefit sterility testing market forecast in North America.
The Asia Pacific region is slated to emerge as the fastest expanding market for sterility testing companies in the world. Growing investments in healthcare infrastructure development, rising pharmaceutical manufacturing activities, and changing regulatory landscape are some key factors that could offer a new business scope for market players in the long run. The presence of multiple contract research and manufacturing organizations in this region will also bolster the demand for sterility testing services going forward. China, Japan, and India are slated to be the most rewarding markets for sterility testing providers in the Asia Pacific region.
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Sterility Testing Market Drivers
Imposition of Strict Mandates for Sterility
Rise in Biopharmaceutical and Pharmaceutical Production Activity
Sterility Testing Market Restraints
Absence of Skilled Professionals
Complex and Time-consuming Processes
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Developing sterility testing procedures that take less time and provide accurate results will be the prime focus of all sterility testing companies. Targeting developing and underdeveloped countries could help sterility testing providers maximize their revenue generation and global sterility testing market share as well. Market players should also launch training programs to address the issue of absence of skilled professionals to perform sterility testing.
Sterility Testing Market Top Player’s Company Profiles
Sterility Testing Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing pharmaceutical manufacturing activity around the world and the imposition of stringent mandates to ensure sterility are projected to drive up the demand for sterility testing. However, a lack of skilled professionals for sterility testing and the time-consuming nature of sterility testing procedures are slated to impede sterility testing market development going forward. The Asia Pacific region is forecasted to emerge as the fastest-expanding regional market in the world owing to rising pharmaceutical manufacturing and healthcare infrastructure development activities. Integration of artificial intelligence to automate sterility testing procedures is expected to be a key opportunity for market players in the long run. The need for fresh kits and reagents for every sterility testing procedure allows them to dominate the sterility testing market outlook.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.1 billion |
Market size value in 2031 | USD 2.7 billion |
Growth Rate | 10.5% |
Base year | 2023 |
Forecast period | 2024–2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Sterility Testing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sterility Testing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sterility Testing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sterility Testing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2169
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