Bioburden Testing | An Emerging Market Expected to Reach $1,103 million by 2023
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) - What is the future growth analysis of global 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%
What are key factors driving growth of global Bioburden Testing Market?
Growth in this market can be attributed to factors such as 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.
What the growth opportunities are in Bioburden Testing Market?
1. Untapped Emerging Markets
2. Growth in the Medical Devices, Pharmaceutical, and Biotechnology Industries
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Global Market Segmentation:
In the current market scenario, there is a growing demand for bioburden testing. The market has been categorized based on the test, product, application, end user, and region.
Based on 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. The raw material testing segment is expected to account for the largest market share in 2018. The large share of this segment can be attributed to the rising quality standards in manufacturing to avoid consequences such as contaminations and breakdown manufacturing process.
Based on product, the bioburden testing market is segmented into consumables and instruments. By type, the market for consumables is segmented into culture media, reagents, and kits, and other consumables. The bioburden testing instruments market is further segmented into automated microbial identification systems, PCR instruments, microscopes, and other instruments.
On the basis of end users, the bioburden testing 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 register the highest CAGR during the forecast period. The growth of the CMOs segment can be attributed to the increasing outsourcing of manufacturing processes from pharmaceutical and biotechnology companies to CMOs.
Based on application, the bioburden testing is segmented into raw material testing, medical device testing, in-process material testing, sterilization validation testing, and equipment cleaning validation.
Geographic Growth Analysis:
In 2018, the bioburden testing market is dominated by North America, followed by Europe, Asia, and the RoW. North America will continue to dominate the market in 2023. The large size of the North American biotechnology industry will aid the growth of the bioburden testing industry in the region. However, the market in Asia is projected to witness the highest CAGR during the forecast period. Strong investments and rapid growth in the pharmaceutical and biotechnology industries will drive the growth of the bioburden testing industry in this region.
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Key Players In Global Bioburden Testing Market:
The market is dominated by established players such as Thermo Fisher Scientific Inc. (U.S.), GE Healthcare (U.S.), Sartorius Stedim Biotech S.A. (France), Merck Millipore (Germany), and Danaher Corporation (U.S.).
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Datum: 22.10.2019 - 12:19 Uhr
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