DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Sterility Testing Market by Product (Instruments, Services, Kits & Reagents), Test (Membrane Filtration Sterility Testing, Direct Inoculation Sterility Testing), Application (Pharmaceutical & Biotechnology, Medical Devices) Global Forecasts to 2021" report to their offering.
The sterility testing market is expected to reach USD 941.0 Million by 2021 from USD 528.0 Million in 2016, at a CAGR of 12.3%
The global market is segmented on the basis of product, test, and application. Sterility testing is an important and mandatory step in the manufacturing process to remove or inactivate potential bacterial contaminants. Growth in the pharmaceutical and biotechnology industries, increase in the number of new drug launches, and increasing R&D in life science research are the key factors driving the growth of this market.
The major drivers for the market include growth in the pharmaceutical and biotechnology industries, increase in the number of new drug launches, and increasing R&D in life science research. Over the years, the number of drug approvals in North American has increased. In 2015, the FDA's Center for Drug Evaluation and Research (CDER) approved 45 novel drugs as new molecular entities (NMEs) under New Drug Applications (NDAs) or as new therapeutic biologics under Biologics License Applications (BLAs); as opposed to this, only 22 novel drugs were approved in 2006. The increasing number of drug approvals will boost the sterility testing market.
- Growth of Pharmaceutical & Biotechnology Companies
- Increasing Number of Drug Launches
- Government Support for Pharmaceutical And Biotechnology Industries
- Increasing R&D Investments in Life Sciences
- High Degree of Consolidation, a Major Barrier for New Market Entrants
- Stringent Regulatory Frameworks And Time-Consuming Approval Processes 34
- Emerging Markets
- Increasing Pharmaceutical Outsourcing
- Shortage of Skilled Professionals
- Biomérieux Sa
- Charles River Laboratories International, Inc.
- Danaher Corporation
- Merck Kgaa
- Nelson Laboratories
- Pacific Biolabs
- SGS S.A.
- Sartorius Ag
- Thermo Fisher Scientific Inc.
- Toxikon Corporation
- Wuxi Apptec
For more information about this report visit http://www.researchandmarkets.com/research/n7x46x/sterility_testing