The Pharmaceutical Sterility Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pharmaceutical Sterility Testing Global Market Report 2024, The pharmaceutical sterility testing market size has grown strongly in recent years. It will grow from $1.41 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to rising demand for quality pharmaceutical products, growing emphasis on drug safety and efficacy, growing demand for biologics and biosimilar drugs, increasing prevalence of infectious diseases, rising investments in life science research.
The pharmaceutical sterility testing market size is expected to see strongly grown in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 20.0%. The growth in the forecast period can be attributed to biopharmaceutical growth, personalized medicine, growing trend of outsourcing, quality assurance emphasis, pandemic preparedness. Major trends in the forecast period include rapid microbiological methods, combination products, data integrity and digitalization, automation and robotics, advanced analytical techniques.
An increase in the number of drug launches and rising investment in research and development (R&D) contributed to the growth of the pharmaceutical sterility testing 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 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.
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The pharmaceutical sterility testing market covered in this report is segmented –
1) By Sample: Sterile Drugs, Medical Devices, Biologics and Therapeutics
2) By Product Type: Instruments, Kits and Reagents, Services
3) By Type: In- house, Outsourcing
4) By Test Type: Sterility Testing, Bioburden Testing, Bacterial Endotoxin Testing
5) By End- User: Compounding Pharmacies, Medical Devices Companies, Pharmaceutical Companies
Major companies operating in the plasma therapy market are introducing innovative products such as the ESG-410 to cater to the evolving needs and enhance treatment options. The ESG-410 is an Electrosurgical Generator designed to provide options and efficiencies in the treatment of NMIBC (non-muscle-invasive bladder cancer) and benign prostatic hyperplasia. For instance, in June 2023, Olympus Corporation, a Japan-based medical technology company launched the next-generation electrosurgical generator, ESG-410. This is used for treating bladder cancer and enlarged prostate. The ESG-410 features advanced design elements, such as enhanced capacitors, ensuring superior plasma stability during ignition. It boasts rapid ignition and optimized plasma stability, offering improvements over the ESG-400, especially when used with various loop sizes and oval buttons. The ESG-410 Electrosurgical Generator offers advanced treatment options for NMIBC and BPH by providing a range of resection loops, electrodes, and vaporization tools.
The pharmaceutical sterility testing market report table of contents includes:
1. Executive Summary
2. Pharmaceutical Sterility Testing Market Characteristics
3. Pharmaceutical Sterility Testing Market Trends And Strategies
4. Pharmaceutical Sterility Testing Market – Macro Economic Scenario
5. Global Pharmaceutical Sterility Testing Market Size and Growth
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31. Global Pharmaceutical Sterility Testing Market Competitive Benchmarking
32. Global Pharmaceutical Sterility Testing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Pharmaceutical Sterility Testing Market
34. Pharmaceutical Sterility Testing Market Future Outlook and Potential Analysis
35. Appendix
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