Sterility Testing: Growing Pharmaceutical Industry will Boost The Market Growth at a CAGR of 10.2% During The Forecast Period 2017-2023
Market Highlights
Sterility testing ensures the product meets the superior quality. It is widely used in cell banks and drug testing. All the drugs, medical devices, substance or any parenteral intended for human use need to be sterile in order to avoid any infection or contamination. Many standard pharmacopoeia have mentioned the standard sterility procedures and that must be followed by the pharmaceutical and biotechnological companies operating in that region.
Regional Analysis
Japan dominates the Asia Pacific sterility testing market owing to the increasing number of drug approvals and high spending on quality control. China accounts for the second largest market, which is followed by India due to huge population base, rapidly changing economy, increasing healthcare expenditure, and increasing number of pharmaceutical & biotechnological companies.
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Recent economic data suggest that China and Southeast Asia are poised to join the ranks of the high-growth Asian economies such as Korea and Taiwan. Since the per capita gross domestic product of China is increasing, which will boost the growth of the market in this region. The World Bank estimates that over the next ten years, East Asia will grow twice as fast as any other regions in the world. Additionally, increasing government initiatives is providing a push to the market growth. Rest of Asia Pacific holds the least share in the market.
Segmentation
Asia Pacific sterility testing market is segmented on the basis of product, types of test, application, and end user.
On basis of type of product, the market is segmented into instrument, reagent & services, kits, and others.
On the basis of type of tests, the market is segmented into membrane filtration sterility testing, direct incubation sterility testing, direct transfer, and others.
On application, the market is segmented into pharmaceutical & biological manufacturing, medical devices manufacturing, and others.
On the basis of end user, the market is segmented into pharmaceuticals, hospital & laboratories, and other.
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Key Players
Various leading companies such as Thermo Fisher Scientific, Inc. and Charles River Laboratories International, Inc. are in the competition of discovering the new methods for sterility. Saturation of the companies in the market has increased the competition in the market.
Some of the major player in the market are Avance Biosciences (U.S.), Boston Scientific Corporation (U.S.), Paragon Bioservices, Inc (U.S.), Merck KGaA (Germany), Thermo Fisher Scientific, Inc. (U.S.), Charles River Laboratories International, Inc. (U.S.), Avista Pharma Solutions (U.S.), and DYNALABS LLC. (U.S.)
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