A report by Market Research Future has predicted that the rapid sterility testing market will increase in value from $2.3 billion in 2023 to $4.3 billion by 2032.
It is expected hold a compound annual growth rate (CAGR) of 8.20 percent between 2023 and 2032.
Factors supporting expansion of the rapid sterility testing market
Concerns around the safety of biological medicinal products is rising and will contribute to expansion of the sterility testing sector in the subsequent years, according to the report.
Another driving factor for its growth is more efficient sterility testing due to technological advancements, the report stated.
Techniques such as membrane filtration sterility testing are drivers for CAGR. For example, this is due to demand for liquid formulations. In the rapid sterility testing industry, the membrane filtration segment dominated the market, the author stated.
Furthermore, an increasing demand for the previously mentioned dosage forms is a key factor contributing to the expansion of the market. A rising number of recalls of these dosage forms because of a lack of sterility is also driving demand for sterility testing of pharmaceuticals. Therefore, it is also contributing to growth of the rapid sterility testing market.
Regional impact
Europe’s rapid sterility testing sector represents the second-largest share. This is a result of greater harmonisation of the regulatory standards with the ICH standards in developing nations, the report noted.
According to the research, the German rapid sterility testing market held the largest share. The UK was reported to be the fastest-growing market in the European region.
Leading players are investing “heavily” in R&D to expand their product lines and will contribute to growth of the market, the author shared.
Major companies within the market include:
- Charles River Laboratories, Inc. (US)
- Merck KGaA (Germany)
- Rapid Micro Biosystems, Inc. (US)
- bioMérieux (France)
- Sartorius AG (Germany)
- Thermo Fisher Scientific (US)
- Eurofins Scientific (Luxembourg)
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