Global Rapid Sterility Testing Market: Introduction
- Rapid sterility tests have absolute sensitivity and specificity for bacterial detection and can identify viable microbes within the scope of microbiological development. These ensure testing in rapid and accurate manner.
- Rapid sterility testing is used in different industries such as pharmaceuticals, biotechnology, and medical devices. It is highly used in the pharmaceutical industry.
- Rapid microbial tests are preferred in the medical devices industry for quality control of devices used for translational medicine
- Technological advancements in rapid sterility tests include growth-based technologies, viability-based technologies, molecular methods, and others
- Growth-based technologies include ATP bioluminescence, colorimetric growth detection, and autofluorescence detection. ATP bioluminescence is a well-established rapid method for measuring contamination levels in raw materials and pharmaceutical products.
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Key Drivers and Restraint of Global Rapid Sterility Testing Market
- Increase in number of medical devices, easy test procedures, quick test results, and surge in demand for high quality products are the major factors driving the global rapid sterility testing market. For instance, technologically advanced product, Growth Direct, is a growth-based system. It helps sterile pharmaceutical manufacturers to accomplish consistently reliable results in about half the time, bring products to market faster, and reduce errors and investigations.
- Strategic partnerships for product development, surge in the launch of new drugs, and expansion of the biotechnology and pharmaceutical sectors are projected to propel the global rapid sterility testing market
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- Increase in research & development in biopharmaceuticals & biotechnology companies is anticipated to augment the global rapid sterility testing market during the forecast period
- Technological advancements in the medical industry with respect to rapid sterility test are expected to boost the growth of the global rapid sterility testing market
- However, high product cost and stringent rules & regulations set by governing authorities are likely to restrain the global rapid sterility testing market in the next few years
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North America to Lead Global Rapid Sterility Testing Market
- In terms of region, the global rapid sterility testing market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global rapid sterility testing market in 2020. Technological advancements, rapid adoption for newer technologies, and presence of a large number of providers of pharmaceuticals as well as medical devices are projected to propel the rapid sterility testing market in North America during the forecast period. According to Select USA, the U.S. constitutes around a third of the global pharmaceutical market.
- Europe was the second largest market for rapid sterility testing in 2020. Presence of key players, rise in research & development activities, and increase in number of medical device companies are anticipated to accelerate the growth of the rapid sterility testing market in the region. According to the International Federation of Pharmaceutical Manufacturers & Associations, R&D expenditure of the pharmaceutical industry in Europe increased from EUR 27,920 Mn in 2010 to EUR 37,500 Mn in 2019.
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- The rapid sterility testing market in Asia Pacific is expected to grow at a rapid pace during the forecast period. Growth of the market in the region is attributed to increase in number of pharmaceutical and biopharmaceutical companies and rise in demand for drug products. According to the Economic Development Board Singapore, Asia has a rapidly growing economy and the number and size of publicly-listed firms in the pharmaceutical sector in the region have increased.
- The market in Latin America and Middle East & Africa is likely to expand at a steady pace during the forecast period due to increase in investments by key players in these regions
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