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The Growing Number Of Drug Launches & Growth Of Pharmaceutical Companies are driving the growth of the Pharmaceutical Sterility Testing Market
HYDERABAD , TELANGANA, INDIA, February 9, 2023 /EINPresswire.com/ — Pharmaceutical Sterility Testing Market size is estimated at $1.1 billion in 2020, projected to grow at a CAGR of 11.3% during the forecast period 2021-2026. Microorganisms are investigated during pharmaceutical sterility research. Fungistasis and bacteriostasis monitoring were used in this sterility procedure. This test guarantees that the test article has an antimicrobial property that prevents microbial organisms from being detected. This test is carried out in a clean environment according to the instructions or using membrane filtration methods or Direct Inoculation with an isolator.
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Key Takeaways
1. Technological advances in sterility testing methods resulted in a decrease in procedural time and human interaction, increasing the test’s efficiency and accuracy, thereby, driving the Pharmaceutical Sterility Testing Industry.
2. Geographically, North America Pharmaceutical Sterility Testing Market held the largest revenue share of 40% in 2020 owing to government investments in the healthcare sector, increased R&D activities and drug launches, and a growing emphasis on quality and sterility.
3. Increased pharmaceutical outsourcing, healthcare spending, and technical advancements in rapid sterility testing are all assisting the market’s development.
4. The Pharmaceutical Sterility Testing market is being driven by an increased focus on safety and sterility, as well as increased R&D activities in the pharmaceutical sector and increased development and launch of drugs and medical device
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Segmental Analysis:
1. Based on Type, Pharmaceutical Sterility Testing Market is segmented into In-house and Outsourcing. Outsourcing accounted for the largest revenue market share in 2020 as customers are willing to spend more on health and wellness. Outsourcing often saves time and money by eliminating the need for staff training and the procurement of sterility testing equipment. In-house is anticipated to grow with the fastest CAGR of 11.9% in the forecast period 2021-2026.
2. Based on Test Type, Pharmaceutical Sterility Testing Market is segmented into Sterility Testing, Membrane Filtration, Direct Inoculation, Bioburden Testing, and Bacterial Endotoxin Testing. The international segment is anticipated to grow with the fastest CAGR of 11.6% during the forecast period 2021-2026 owing to a rising emphasis on product quality, along with the rising number of drug and medical device launches.
3. Based on Geography, North America Pharmaceutical Sterility Testing Market accounted for 40% of the revenue share in 2020 owing to the presence of several key players in the region. For instance, Nelson Laboratories (US) announced the addition of a Technical Consulting Services division for MedTech companies to its service offerings in June 2014.
Competitive Landscape:
The top 5 players in the Pharmaceutical Sterility Testing Industry are –
1. Pace Analytical Services, LLC
2. Toxikon, Inc.
3. Merck KGaA
4. Rapid Micro Biosystems
5. Sartorius AG
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