Sterility Testing Market Growing at a CAGR of 12.3%

According to the new market research report 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% from 2016 to 2021.

Globally, the sterility testing market is witnessing high growth due to factors such as the growth of pharmaceutical & biotechnology companies, increasing drug launches, growing government support for pharmaceutical and biotechnology industries, and rising R&D in the life science industry. Companies are focusing on strategies of expansions; mergers and acquisitions; product launches and; agreements, partnerships, and collaborations to strengthen their foothold in the market.

Read More: https://www.marketsandmarkets.com/PressReleases/sterility-testing.asp

Based on product, the market is segmented into kits and reagents, instruments, and services. The kits and reagents segment is the largest and the fastest-growing product segment in the sterility testing market. The large share of the kits and reagents segment can be attributed to the requirement of the repeat purchase of these products, coupled with the increasing preference for kit-based testing.

Based on test, the market is segmented into membrane filtration, direct inoculation, and other sterility tests. The membrane filtration segment is estimated to account for the largest share of the sterility testing market in 2016. The large share of this segment can primarily be attributed to rapid growth in the pharmaceutical and biotechnology end-use industry.

Based on application, the market is segmented into pharmaceutical and biological manufacturing, medical devices manufacturing, and others applications. The pharmaceutical and biological manufacturing segment is projected to witness the highest growth in this market due to the rapid growth in the pharma and biotech industries.

Get Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=208866931

Asia is expected to witness a steady year-on-year growth, owing to the trend of outsourcing drug discovery research activities to countries in this geography. Moreover, an increase in government support for pharmaceutical and biotechnology industries in this region will further fuel the demand for products offered in the sterility testing market. For instance, beginning in 2014, the Indian government plans to invest up to USD 5 billion a year for the next five years, to boost the biotechnology sector in the country and make it a USD 100 billion industry by 2025. Similarly, the Chinese government is also taking various initiatives to promote life sciences research, and plans to invest more than USD 300 billion in biotechnology from 2012 to 2017. These funding activities help in increasing the purchasing power of major research institutes, which in turn is driving the market for sterility testing products.

ABOUT:

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

newsletter@marketsandmarkets.com

This blog is to define current trends in Healthcare IT, Medical Devices, Biotechnology, Pharma Industry, Stay Tuned for Latest updates and news