The U.S. pharmaceutical sterility testing market size is expected to reach USD 713.6 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 11.3% over the forecast period. Supportive government investment in healthcare industry, increasing R&D activities, and drug launches are the key factors driving market growth.
The government is keen on bringing down healthcare costs which is anticipated to encourage the U.S. Food and Drug Administration (FDA) to promote fast approvals of generic pharmaceuticals. Faster approvals drive the need for newer sterility testing methods. This is anticipated to encourage market participants to spend more on sterility solutions and in turn, expand the market. With increasing demand for drugs, companies are launching newer drugs with different routes of administration, dosage, and indication. These launches require thorough sterility testing and thus, are anticipated to drive market growth.
On the basis of type, the U.S. pharmaceutical sterility testing market is segmented into in-house and outsourcing. Most market players prefer outsourcing sterility testing services, as it is economically viable. Companies shortlist and select outsourcing firms based on their experience, expertise, and quality of service. Hence, it is difficult for new players to enter into this area.
Companies active in the U.S. pharmaceutical sterility testing market are Charles River Laboratories, Pace Analytical Series LLC, DynaLabs, Infinity, Boston Analytical, and others. Market players employ various growth strategies such as mergers, capacity expansion, and venturing into new regions. For instance, in April 2018, Charles River Labs completed acquisition of MPI Research, a non-clinical Contract Research Organization (CRO) providing detailed services to medical device and biopharmaceutical companies. This acquisition is anticipated to expand biotechnology client base of the former and to provide the company access to MPI’s scientific expertise and quality services.
To request a sample copy:
https://www.grandviewresearch.com/industry-analysis/us-pharmaceutical-sterility-testing-market
Further key findings from the report suggest:
- U.S. pharmaceutical sterility testing market was valued at USD 302.2 million in 2017 and is expected to grow lucratively over the forecast period
- In terms of revenue, outsourcing segment is anticipated to grow at a lucrative rate during the forecast period.
- Sterility testing segment was valued at USD 97.6 million in 2016 and is anticipated to witness swift growth over the forecast period.
Access Press Release Of This Research Report by Grand View Research: https://www.grandviewresearch.com/press-release/us-pharmaceutical-sterility-testing-market-analysis
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
No comments:
Post a Comment