Pune, India -- (SBWire) -- 07/16/2018 --The Worldwide Sterility Testing Market Players have adopted the strategy of acquisitions, product launches, and partnerships for the development of the market. Merck KGaA is the market leader in the Global Sterility Testing Market with a market share of 18.7% in 2016.
The company has a well-developed market, strong product portfolio, and effective distribution network around the globe. In the last three years, Merck KGaA has adopted the organic strategy of product launches and acquisitions to cement their position in the global sterility testing market. Moreover, the company has also increased investments in various R&D activities. This enabled them to launch innovative products in the market, thereby, expanding their market reach.
Charles River Laboratories Inc. assumed the second position in the global sterility testing market with a share of 12.4% in 2016. The company showed positive growth regarding revenue from 2015 to 2016 owing to strong sales in high potential emerging markets. Further, to sustain its place in the sterility testing market, the company follows strategic business strategies such as partnerships, collaborations, and acquisitions to expand their product portfolio and geographical reach. For instance, in July 2015, the company acquired Celsis International Ltd, which helped it in quality control testing of biopharmaceutical and consumer products industries.
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BioMérieux SA was third in the global sterility testing market with a share of 9.3% in 2016. The company adopted the strategy of product launches to expand its market share and keep the sterility testing market updated. In addition, the company has a huge product portfolio and good brand identity.
Other prominent players in the market include Thermo Fisher Scientific Inc., Becton, Dickinson and Company (BD), SGS SA, and Baxter BioPharma Solutions. Other players accounted for a share of 48.2% in the market in 2016. Majority of the companies have adopted the strategy of acquisitions and product launches for market development. For instance, in September 2016, the company announced the acquisition of the laboratory products and services segment of Alfa Aesar, a company based in the U.K., forUSD 392 million. This acquisition would help in expanding the company's existing portfolio of chemicals, solvents, and reagents.
The Global Sterility Testing Market is predicted to touch USD 1,245.2 Million by 2023 from USD 575 million in 2016, expanding at an astounding CAGR of 11.7% during the assessment period (2017-2023). The rise in demands for sterile drugs can open up avenues for suppliers and manufacturers of sterility testing market. Developing countries, such as China and India, owing to advancements in biotechnology and pharmaceuticals, are emerging as prospective markets and have turned out to be the favorite destination of investment of various market players who are now expanding their operations in these regions.
The sterility testing market is segmented on the basis of product type, test type, and end-user. By product type, the global market for sterility testing is segmented into instruments, consumables, and services. The service segment is sub-segmented into sterility assurance tests, sterilization validations, cleaning and disinfection, stability testing, and others. Mostly, sterility assurance tests are performed to determine the sterility-assurance level (SAL) of perishable pharmaceutical products, such as injectable to ensure the sterility of the drugs. Owing to these features, the sterility assurance tests segment held the largest market in 2016 with a market valuation of USD 67.1 million. Current predictions estimate its valuation at USD 151.6 million by the end of the forecast period.
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Major TOC Sterility Testing Market:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Sterility Testing Market, by Product Type
7 Global Sterility Testing Market, by Test Type
8 Global Sterility Testing Market, by End User
9 Global Sterility Testing Market, by Region
10 Competitive Landscape
11 Company Profiles
12 List of Tables
13 List of Figures
T.O.C Continued….
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Sterility Testing Market Anticipated Reaching USD 1,245.2 Million by 2023; Major Players Business Overview by Size, Shares and Revenue
The Global Sterility Testing Market is predicted to touch USD 1,245.2 million by 2023 from USD 575 million in 2016, expanding at an astounding CAGR of 11.7% during the assessment period (2017-2023). The rise in demands for sterile drugs can open up avenues for suppliers and manufacturers of sterility testing market