According to a research report Efficacy Testing Market by Service Type (Antimicrobial/Preservative Efficacy Testing, Disinfectant Efficacy Testing), Application (Pharma, Cosmetics & Personal Care, Medical Devices, Consumer Products) and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global efficacy testing market is projected to reach USD 423 million by 2027 from USD 315 million in 2022, at a CAGR of 6.1% during the forecast period. The growth of this market is mainly driven by the regulations for the safety and efficacy of pharmaceutical products. Increasing support from governments across the world for pharmaceutical and biotechnology industries, coupled with increasing investments for research and development activities in these sectors contributes to market growth. Moreover, the growing application of antimicrobial efficacy testing for different types of medical devices, in cosmetic and pharmaceutical industries, and R&D investments in the life sciences space are anticipated to boost the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=51479831
Browse in-depth TOC on “Efficacy Testing Market”
143 – Tables
36 – Figures
181 – Pages
Key Market Players:
The efficacy testing market is well established owing to the dominance of prominent market players, such as Charles River Laboratories (US), WuXi AppTec (China), Eurofins Scientific (Luxembourg), SGS (Switzerland), Intertek Group (UK), Nelson Laboratories, LLC (a Sotera Health company, US), Microbac Laboratories, Inc. (US), Almac Group (UK), North American Science Associates, Inc. (US), Toxikon (US), Pacific Biolabs (US), MSL Solution Providers (UK), Intertek Group PLC (UK), Accugen Laboratories, Inc. (US), Consumer Product Testing Company (US), Lucideon (UK), BioScience Laboratories, Inc. (US), ALS Limited (Australia), Microchem Laboratory (US), Oxford Biosciences Ltd. (UK), Abbott Analytical (Australia), Helvic Laboratories (a Tentamus Company, UK), Honeyman Group Limited (UK), Danish Technological Institute (DTI, Denmark), and BluTest Laboratories Limited (UK).
Driver: Rising adoption of quality by design approach
Since the introduction of Quality-by-Design (QbD) concepts, it has been accepted that quality of pharmaceutical products should be designed and built during the manufacturing process. Most of quality problems are related to the way in which a pharmaceutical product was designed. A poor-designed pharmaceutical product will show poor safety and efficacy, no matter how many tests or analyses have been done to verified its quality. Thus, QbD begins with the recognition that quality will not be improved by merely increasing testing of pharmaceutical products. In other words, quality must be built into the product.
Restraint: Adverse effects of chemical disinfectants
Most of the chemical disinfectants currently available in the market have toxic properties. For example, sodium hypochlorite is an effective treatment against blood-borne pathogens but is also highly corrosive and a respiratory irritant, which makes it dangerous for cleaning personnel and building occupants as it causes damage to many surfaces and is toxic when released into the environment. The improper use of these disinfectants can cause environmental hazards and be harmful to patients exposed to them. Disinfectants sold in the US need to be registered with the Environmental Protection Agency (EPA), which classifies these solutions as pesticides; they are regulated under the FIFRA. There is no green certificate currently available for disinfectants in the market.
Due to a growing end-user population demanding greener solutions, the use of disinfectants is becoming limited, with their use being restricted to limited non-critical items and in lower amounts. Manufacturers are now being forced to develop newer and greener alternatives that are less corrosive to the human eyes, such as butyl-free, pH-neutral quaternary, and hydrogen peroxide-based disinfectants. In line with this, in 2021, Clorox Healthcare launched the new Clorox Healthcare Versa-Sure Cleaner Disinfectant Wipes that are alcohol-free.
Opportunity: Emerging countries in Asia Pacific region
Emerging economies, such as India, Brazil, and South Africa, offer significant opportunities for players in the efficacy testing markets. The growing need for advanced healthcare services in these economies is mainly driven by the rapidly increasing aging population and the rising number of patient volumes, growing per capita income, and rising awareness. Also, countries such as India have a huge population base, and these markets are home to a large patient base. Healthcare infrastructural improvements, such as the establishment of new facilities, have been a key trend in emerging markets, alongside rising awareness on the sterilization of medical products.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=51479831
The pharmaceutical manufacturing applications segment accounted for the fastest-growing application type segment of the efficacy testing market
The efficacy testing market, by application, is segmented into pharmaceutical manufacturing applications, cosmetics and personal care product applications, consumer product applications, and medical device applications. The pharmaceutical manufacturing applications segment is estimated to grow at the highest CAGR during the forecast period. The growth of this segment is majorly attributed to the stringent regulations for the microbial testing of pharma drugs for regulatory approval and the growing focus on patient safety.
By application, the pharmaceutical manufacturing applications segment accounted for the largest share of the efficacy testing market in 2021.
On the basis of application, the efficacy testing market is segmented into pharmaceutical manufacturing applications, cosmetics and personal care product applications, consumer product applications, and medical device applications. The pharmaceutical manufacturing applications segment dominated this market in 2021 and is estimated to grow at the highest CAGR during the forecast period. A tremendous amount of analytical testing is required to support a product from discovery, development, and clinical trials, through manufacturing and marketing. The global competitive environment is compelling these companies to continuously conduct testing—or opt for testing services—throughout the development phases to increase the quality and efficacy of the products. However, the added costs and the time required place a burden on companies, prompting them to outsource testing. Outsourcing analytical testing services as a model and strategy allows companies to maintain the flexibility of internal resources and utilize technical capabilities not available in-house.
North America accounted for the largest share of the efficacy testing market
The efficacy testing market is dominated by North America and is anticipated to be trailed by Europe. It is expected that North America would continue to lead the said market over the forecast period. However, the region of Asia Pacific is estimated to experience a very high CAGR over the forecast period. The market in the Asia Pacific region is foreseen to be fuelled by various elements like growing geriatric population, rising incidences of chronic diseases, increasing awareness about consumer health, and increased expenditure by the government on healthcare industry have bolstered the demand for pharmaceutical products in Asia Pacific region.
View detailed Table of Content here@ https://www.marketsandmarkets.com/Market-Reports/efficacy-testing-market-51479831.html
- In 2021, Eurofins Scientific acquired bioskin GmbH (Germany), a dermatology specific CRO, to strengthen Eurofins’ leadership position in cosmetic product testing.
- In 2021, Intertek Group plc expanded the company’s Health, Environmental, and Regulatory Consultancy business lines in Spain and Russia.
- In 2020, 3M launched the TB Quat Disinfectant Ready-to-use Cleaner.
- In 2020, Ecolab acquired Holchem Group to strengthen its hygiene and cleaning products and services portfolio for the food & beverage, food service, and hospitality industries.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Visit Our Website: https://www.marketsandmarkets.com/