Yahoo Finance Pharmaceutical Sterility Testing Global Market Report 2023
Major players in the pharmaceutical sterility testing market are Pacific Biolabs, STRERIS Corporation, Boston Analytical, Gibraltar Laboratories, Sartorius AG, SolviasAG, SGS AG, Toxikon Inc., Pace Analytical Services LLC, Charles River Laboratories International Inc, Nelson Laboratories Inc, Rapid Micro Biosystems Inc.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pharmaceutical Sterility Testing Global Market Report 2023" - https://www.reportlinker.com/p06241836/?utm_source=GNW
, BioMerieux, Merck KGaA, Wuxi AppTec, Sotera Health LLC, Dynalabs and Infinity.
The global pharmaceutical sterility testing market is expected to grow from $1.09 billion in 2021 to $1.19 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The pharmaceutical sterility testing market is expected to reach $1.68 billion in 2026 at a CAGR of 8.9%.
The pharmaceutical sterility testing market includes revenues earned by entities by membrane filtration, direct transfer (product immersion) and product flush.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Pharmaceutical sterility testing refers to a test that is intended to show if biological parenterals made for human use contain extraneous, viable contaminating microorganisms or not.To be utilised by medical professionals on patients, all pharmaceutical items must be of the highest calibre and be extremely safe.
Otherwise, it could harm the patients. Testing for sterility assures that the offered product is suitably sterile.
North America was the largest region in the pharmaceutical sterility testing market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the pharmaceutical sterility testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of pharmaceutical sterility testing are in-house and outsourcing.The various types of tests include sterility testing, bioburden testing, and bacterial endotoxin testing which are used to test sterile drugs, medical devices, biologics, and therapeutics.
An in vitro assay for detecting bacterial endotoxins is known as a bacterial endotoxin test.The bacterial endotoxin test detects bacterial endotoxins by lysing blood cells from horseshoe crabs.
The different products used are instruments, kits and reagents, and services.
An increase in the number of drug launches and rising investment in research and development (R&D) contributed to the growth of the market.Sterility is an important step in the manufacture of drugs to avoid product contamination and make the drugs free from any viable microorganisms.
For instance, in March 2022, according to an article shared by Pharmaceutical Technology, a US-based independent source for information, insight, and analysis on bio/pharmaceutical formulation, the UK government has announced a $347 million (£260 million) commitment to advance research and development (R&D) and the creation of innovative treatments, tools, and diagnostics.Additionally, in December 2021, according to a report shared by IQVIA, a US-based provider of advanced analytics, technology solutions, and clinical research services, Over the next five years, until 2026, a total of 300 new medications are anticipated to be introduced; this is a large increase over the level observed on average over the previous ten years, and the drugs are anticipated to tilt toward specialty, niche, and orphan drugs.
In the next five years, there will be a $196 billion increase in spending on new products, which will be roughly offset by a $188 billion decrease in brand spending owing to loss of exclusivity.
Companies in the pharmaceutical testing market are introducing new pharmaceutical sterility testing products and services to enhance their product portfolio and increase their presence in the market.The companies are launching technologically superior outcomes and well-equipped services to utilize the growth potential of the rising pharmaceutical sterility market.
For instance, in June 2022, STEMart, a US-based provider of integrated medical device CRO services, launched comprehensive microbiology and sterility testing for sterile, non-pyrogenic products. A variety of services are included in comprehensive microbiology and sterility testing, such as the Antibiotic Potency Test to evaluate the bioactivity or potency of specific antibiotics for medical devices.
The countries covered in the pharmaceutical sterility testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products.
The pharmaceutical sterility testing market research report is one of a series of new reports that provides pharmaceutical sterility testing market statistics, including pharmaceutical sterility testing industry global market size, regional shares, competitors with a pharmaceutical sterility testing market share, detailed pharmaceutical sterility testing market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical sterility testing industry. This pharmaceutical sterility testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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