$1,103 million Market Growth Estimated In Bioburden Testing Market
The bioburden testing market is projected to reach USD 1,103 million by 2023 from USD 614 million in 2018, at a CAGR of 12.4%
(IINews) - According to the new market research report "Bioburden Testing Market by Product (Consumables, Instrument (PCR, Microscope)), Test (Anerobic, Mold/Fungi, Aerobic, Spore), Application (Raw Material, Medical Devices, Sterility Testing), End User (Pharma, Biotechnology, CMO) - Global Forecast to 2023", published by MarketsandMarkets™, the Bioburden Testing Market is projected to reach USD 1,103 million by 2023 from USD 614 million in 2018, at a CAGR of 12.4% during the forecast period.
The growth in this market is mainly driven by the growth in the medical devices, pharmaceutical, and biotechnology industries; rising safety concerns related to food and beverage products; and the increasing number of product recalls due to microbial contamination.
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Raw material testing segment to register the highest growth in the bioburden testing applications market during the forecast period.
By application, the Bioburden Testing Market is segmented into raw material testing, medical device testing, in-process material testing, sterilization validation testing, and equipment cleaning validation. In 2018, the raw material testing segment is expected to witness the highest growth rate during the forecast period. Growth in this segment is likely to be driven by the rising quality standards to ensure the safety of finished products.
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Contract manufacturing organizations to be the fastest-growing end-user segment of the Bioburden Testing Market
On the basis of end user, the Bioburden Testing Market is segmented into pharmaceutical and biotechnology companies, medical device manufacturers, contract manufacturing organizations (CMOs), manufacturers of food & beverage and agricultural products, and microbial testing laboratories. The CMOs segment is expected to grow at the highest CAGR during the forecast period owing to the increasing outsourcing of manufacturing processes from pharmaceutical and biotechnology companies to CMOs.
North America will continue to dominate the Bioburden Testing Market in the forecast period
On the basis of region, the Bioburden Testing Market is segmented into North America, Europe, Asia, and the RoW. In 2018, North America is expected to account for the largest share of the market, followed by Europe. Growth in the pharmaceutical and biotechnology industries, strong trend of R&D investments in life sciences research, and increasing government support for pharmaceutical and biotechnology companies are the major factors driving market growth in North America. However, the Asian market is expected to grow at the highest CAGR during the forecast period, primarily due to the expansion of key market players in emerging Asian countries, increasing expenditure on life science research, and the increasing trend of pharmaceutical outsourcing to Asian countries.
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The Bioburden Testing Market is competitive in nature, with the presence of several large and small players. Charles River (US), Merck KGaA (Germany), SGS SA (Switzerland), WuXi AppTec (China), Becton, Dickinson and Company (US), NAMSA (US), Nelson Laboratories, LLC (US), Thermo Fisher Scientific (US), biomérieux SA (France), and Pacific BioLabs (US) are some of the leading payers in the Bioburden Testing Market.
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Datum: 23.05.2019 - 12:14 Uhr
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