Bharat Book Bureau Provides the Trending Market Research Report on “Global Efficacy Testing Market Forecast to 2022” under Life Sciences category. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
Global Efficacy Testing Market projected to grow at a CAGR of 8.7% during the forecast period
The efficacy testing market is expected to reach USD 501.6 million by 2022 from USD 330.5 million in 2017, at a CAGR of 8.7%. The major factors driving the growth of this market include the growing pharmaceutical and biotechnology industry driven by government support and the positive trend in the R&D investment in the lifescience sector. On the other hand, emerging markets and increasing pharmaceutical outsourcing are expected to offer growth opportunities for players in the efficacy testing market.
The consumables segment is anticipated to grow at the fastest growth rate during the forecast period
The efficacy testing market by product and service is segmented into consumables, services, and instruments. The consumables segment is expected to register the highest CAGR during the forecast period. The regular and bulk purchases of consumables are the key factors driving the growth of this market.
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The antimicrobial efficacy testing segment is estimated to grow at a rapid rate during the analysis period
By type, the efficacy testing market is segmented into antimicrobial efficacy testing and disinfectant efficacy testing. The antimicrobial efficacy testing segment is expected to grow at the fastest-growing segment of the global efficacy testing market during the forecast period. Factors such as the increasing applications of antimicrobial efficacy testing in the cosmetic, pharmaceutical, and medical device industries are driving the growth of this segment.
Asia is estimated to register the highest CAGR during the study period
Geographically, the efficacy testing market is dominated by North America, followed by Europe in 2017, however, Asia is estimated to grow at the fastest rate during the forecast period. Growth in this region can be attributed to increasing growth of pharmaceutical industries and increasing demand for the outsourcing of quality control safety testing in Asian countries.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type - Tier 1 – 70% and Tier 2 – 30%
- By Designation – C level – 62%, Director level – 21%, Others – 17%
- By Region – North America – 50%, Europe – 20%, Asia– 30%
The key players in the efficacy testing market include Eurofins Scientific (Luxembourg), Charles River Laboratories International (US), Becton, Dickinson and Company (US), SGS (Switzerland), Merck KGaA (Germany), bioMérieux (France), Pacific Biolabs (US), WuXi AppTec (China), North American Science Associates (US), and American Type Culture Collection (US).
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