Sterility Testing Market by Product and Geography - Forecast and Analysis 2020-2024
- Published: Oct 2020
- Pages: 120
- SKU: IRTNTR45558
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The sterility testing market size has the potential to grow by USD 1.02 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (consumables, devices, and services) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including bioMérieux SA, Charles River Laboratories International Inc., Ecolab Inc., Eurofins Scientific SE, Merck KGaA, Sartorius AG, SGS SA, Sotera Health LLC, STERIS Plc, and Thermo Fisher Scientific Inc.
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Market Competitive Analysis
The sterility testing market is fragmented. The competitive environment in this market will intensify further with the increase in product/service extensions and product innovations. The vendors are constantly competing against each other for a higher market share. Many new entrants are trying to enter the market as the market offers huge growth opportunities. bioMérieux SA, Charles River Laboratories International Inc., and Ecolab Inc. are some of the major market participants. Although the growing cases of HAIs will offer immense growth opportunities, the limited demand for sterility testing in developing countries will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this sterility testing market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this sterility testing market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- bioMérieux SA
- Charles River Laboratories International Inc.
- Ecolab Inc.
- Eurofins Scientific SE
- Merck KGaA
- Sartorius AG
- SGS SA
- Sotera Health LLC
- STERIS Plc
- Thermo Fisher Scientific Inc.
Sterility Testing Market: Segmentation by Geography
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North America was the largest sterility testing market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising pharmaceutical market will significantly drive sterility testing market growth in this region over the forecast period.
39% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for sterility testing in North America. However, market growth in this region will be slower than the growth of the market in Asia and Europe.
Sterility Testing Market: Segmentation by Product
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Consumables used in sterility testing are reagents, kits, test media, solutions, dilution fluids, and disinfectant fluids. Due to the rising number of biological research companies and pharmaceutical companies, the demand for sterility testing is increasing, which is ultimately influencing the market growth for consumables. The availability of a wider range of products with improved features and functions is also leading to the highest market share of consumables.
However, market growth in the consumables segment will be slower than the growth of the market in the devices and services segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the sterility testing market size.
Sterility Testing Market: Key Drivers and Trends
Technavio’s market study identifies the growing cases of HAI to be one of the primary growth factors for the sterility testing market. In recent years, the cases of hospital-acquired infection (HAI) witnessed a considerable increase, which, in turn, has led to a rise in the number of deaths and also increased healthcare costs. This will induce hospitals to conduct tests to ensure better patient safety and reduce the risk of contamination from medical instruments, disposables, and patient rooms. Since sterility testing is one of the routine processes that hospitals usually undergo to prevent the spreading of contaminating microorganisms, the market is expected to record significant growth. Our market analysts estimate that the market will grow steadily at a CAGR of almost 19% during the forecast period.
Healthcare users, including hospital-based inpatients, are the primary consumers for sterility testing product manufacturers. This is primarily because the FDA has laid down several regulations and guidelines to ensure that healthcare practitioners and patients follow the best practices for sterility testing. Sterility testing is becoming a norm in hospitals and healthcare settings to free the hospital environment from microbial contamination and ensure the utmost patient safety. With the rising awareness about sterility testing, the sterility testing market will witness significant growth in the coming years.
Sterility Testing Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive sterility testing market growth during the next five years
- Precise estimation of the sterility testing market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the sterility testing industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of sterility testing market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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