Given the debilitating impact of COVID-19 (Coronavirus) on Rapid Sterility Testing Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Rapid Sterility Testing Market Overview:
Global Rapid Sterility Testing Market as opined by Market Research Future (MRFR) in their recently published report, is expected to leap from its Rapid Sterility Testing Market valuation of USD 158 million in 2017 with a CAGR of 13.4% during the forecast period (2018-2023). Rapid sterility testing is known for its prolific ability of microbial contamination detection from a biologic sample. The testing has widespread use in sectors such as pharmaceutical, biotechnology, and medical devices. In quality control of devices, it is used to test for sensitivity and maintain specificity.
Global Rapid Sterility Testing Market is benefiting much from the advanced technological usage of sterility testing such as ATP bioluminescence, colorimetric growth detection, and autofluorescence detection. The rising investment in the research and development of the healthcare sector, along with demands for cutting-edge products from the pharmaceutical sectors are expected to provide substantial thrust to the market. The inclusion of rapid sterility testing helps in fast launching of products and reduce errors in due processes. It is also witnessing several strategic stances being taken by market titans to ease the way towards progress.
On the flip side, the rapid sterility testing market could get hindered by the high product cost and availability of alternative methods can hold back the market growth.
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Rapid Sterility Testing Market Competitive Landscape:
Influential companies, as recorded in the MRFR report, to boost the global rapid sterility testing industry are Gibraltar Laboratories (US), Charles River Laboratories, Inc. (US), Merck KGaA (Germany), bioMérieux (France), Rapid Micro Biosystems, Inc. (US), Becton, Dickinson, and Company (US), Eurofins Scientific (Luxembourg), Sartorius AG (Germany), FOCUS Laboratories (US), and Thermo Fisher Scientific (US). Strategic decisions and implementations are at the core of the holistic growth of both the company and the market.
Rapid Sterility Testing Market Segmental Analysis:
MRFR in their report on the global rapid sterility testing market segmented it by product, technology, and application. This segmentation reveals both volume-wise and value-wise growth possibility for a comprehensive understanding of the entire market.
Based on the product, the rapid sterility testing market can be segmented into kits & reagents, instruments, and services. The biological kits & reagents segment has the maximum market share as of 2017 due to its substantial use in research and laboratories.
Based on technology, the rapid sterility testing market comprises membrane filtration, ATP bioluminescence, and other technologies. The ATP bioluminescence segment is helming the overall segment and is gaining significant momentum to profit more during the review period.
Based on the application, the rapid sterility testing market includes pharmaceutical & biological manufacturing, medical device manufacturing, and other end-users. The medical device manufacturing segment is gaining substantial fortune due to the rising demand from the healthcare sector.
Rapid Sterility Testing Market Regional Analysis:
MRFR’s region-specific global rapid sterility testing market analysis includes the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA). The aim is to identify growth pockets to understand regional growth better.
The Americas is expected to dominate the rapid sterility testing market growth. The credit goes to a superior infrastructure that encompasses a robust healthcare infrastructure and strong research and development sector owing to high expenditure capability. Additionally, both pharmaceutical and medical device industry are providing much-needed thrust.
Europe is ranked second, and its features are quite similar to that of the Americas owing to which the regional market is witnessing growth. The APAC market is witnessing rapid growth as several countries such as China, Japan, Republic of Korea, India, Australia have developed a substantially strong healthcare sector. Its growth could surpass others during the forecast period. However, the MEA market is showing some moderate growth owing to its poor infrastructure in healthcare and research & development.
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In September 2018, The US Pharmacopeial Convention (USP) decided to launch a new chapter for rapid sterility testing of short-life products. In doing so, it will follow recommendations made by a panel of experts and stakeholders.