Pharmaceutical sterility testing market to grow from $2.07b in 2027
Posted: 1 February 2023 | Catherine Eckford (European Pharmaceutical Review) | No comments yet
Research suggests that the global sterility testing market will see a nearly $200 billion increase in spending on new products in the next five years.
A recent market report showed that the global pharmaceutical sterility testing market is expected to grow from $2.07 billion in 2027 at a compound annual growth rate (CAGR) of 12.5 percent.
The global pharmaceutical sterility testing market grew from $1.19 billion in 2022 to $1.29 billion in 2023 at a CAGR of 8.9 percent.
An increase in the number of drug launches and rising investment in R&D contributed to the growth of the market, found the Business Research Company, who produced the report.
Influencing factors on the global market
North America was the largest region in the pharmaceutical sterility testing market in 2022. The Middle East is expected to be the fastest growing region in the market during the forecast period, the report showed.
Recent geopolitical war has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruption. This has caused inflation across goods and services, affecting many markets globally. Disruption impacted the chances of global economic recovery from the COVID-19 pandemic at least in the short term, the report stated.
Read an article discussing the measures pharmaceutical suppliers may adopt to establish demand- and crisis-resistant supply chains. The article reflects on the impact the COVID-19 pandemic has had on pharma supply chains.
In the next five years, there will be a $196 billion increase in spending on new products. This will be roughly offset by a $188 billion decrease in brand spending owing to loss of exclusivity, the report predicted.
The countries covered in the pharmaceutical sterility testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Pharmaceutical sterility testing
Sterility is an important step in the manufacture of drugs to avoid product contamination. Pharmaceutical sterility testing is a test intended to show if biological parenterals made for human use contain extraneous, viable contaminating microorganisms or not, according to the research.
Big Pharma, Biopharmaceuticals, Cleanrooms, Environmental Monitoring, Impurities, Microbial Detection, QA/QC, rapid sterility testing