The Research Report on “ Pharmaceutical Sterility Testing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028 ”, issued by TMR Research, includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain.
Global Pharmaceutical Sterility Testing Market: Overview
Sterility testing is a process to check whether any microorganism is present in biological parenteral which is designed for human use. Sterility testing is an imperative process for biopharmaceutical products, medical devices and pharmaceutical products which are required to be free from microorganisms. Sterility process is also known as fungistasis and bacteriostasis test. Over the years, the rise in awareness among the population regarding the various threat that can be caused by coming in contact with non-sterile medical devices has favored the pharmaceutical industry to push the market towards the forward direction.
The global pharmaceutical sterility testing market is likely to expand at 11.8% of CAGR during the forecast period 2018 – 2028. The market was market was valued at US$ 733.7 mn in 2016, and likely to cost more than that by the end of 2028. Rise in governments’ initiatives in various countries in healthcare industry is to promote the growth of the market.
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Global Pharmaceutical Sterility Testing Market: Trends and Opportunity
Rise in prevalence of chronic and rare diseases across the world is likely to drive the growth of the market. Increase in geriatric population throughout the world who are vulnerable towards various kind of diseases as they lack immunity is aiding the market to grow. Rapid advancement in healthcare and pharmaceutical industry is gaining trust in peoples’ mind who are willing to spend to spend money behind the treatment. Another factor that is helping the market to grow is the healthcare insurance coverage provided by various government and private banks. Numerous sterile tests have provided accurate and reliable test results thus eradicating any room for error. This is fueling the growth of the market.
Global Pharmaceutical Sterility Testing Market: Market Potential
Pfizer, an American based pharmaceutical organization in order to suffice the rising demand for sterile injectable products, has invested US$465 mn to build one of the most technological advanced sterile injectable pharmaceutical production facilities in Michigan. The facility will be erected in Portage and is expected to become the most advanced production facilities for sterile injectable pharmaceutical production in the world. Pfizer mentioned that the investment by the US will help the capability of Pfizer to generate and deliver lifesaving injectable medicines for patients all across the world. Pfizer announced about the plan just after it suspended its production its sterile injectable plant in India which the US Food and Drug Administration has asked twice for manufacturing and testing issues.
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Global Pharmaceutical Sterility Testing Market: Regional Outlook
The global Pharmaceutical sterility testing market is spread across North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst the pack, North America continues to hold the leading share in market, attributed to the presence of leading pharmaceutical industry accompanied with the rise in demand for sterility testing. Another factor helping North America to hold the lead is the entry of several new players in the region. North America is followed by Asia Pacific. This region is likely to become the fastest growing market by the end of the forecast period due to the rise in the pharmaceutical industries in the region accompanied with rise in initiatives by government on the healthcare sector.
Global Pharmaceutical Sterility Testing Market: Competitive Landscape
Due to the presence of large number of domestic and global players, the market is highly fragmented in nature. The players in the market is investing huge behind the research and development team in order to enhance the quality of the product. Major players in order to expand their footprints are merging with the local players.
Some of the major players in the market are
Rapid Micro Biosystems
Charles River Laboratories International Inc.
hermo Fisher Scientific Inc.
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