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. Factors such as regulations for pharmaceutical and cosmetic products addressing the safety of the products are expected to drive the growth of the global market for efficacy testing in the coming years. In addition, the efficacy of the active pharmaceutical ingredient (API) is the key concern, the market considers the regulation and validation of pharmaceutical products, and numerous methods of preservative efficacy testing (PET) have been advanced over the decade by standards organizations, regulatory agencies, industry organizations and individual firms such as an international conference on harmonization of technical requirements for registration of pharmaceuticals for human use (ICH) and good clinical practice (GCP). The main purpose of these regulatory bodies is to meet the good documentation standard and scientific soundness.
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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).
Eurofins Scientific (Luxembourg) is a leading service provider in the efficacy testing market. The company has a strong geographical presence in Europe, North America, and the Asia Pacific. Eurofins Scientific provides testing and support services in different sectors, including the pharmaceutical, food, environment, agroscience, and genomics sectors across the world. The company operates through four business segments, namely, Sample-based Business, Study-based Business, FTE-based Business, and Product-based Business. Eurofins BPT NZ provides a wide range of GMP testing services for the pharmaceutical industry, including full microbiological testing, raw materials analysis, and stability storage trial. The company offers antimicrobial and disinfectant efficacy testing services through Eurofins’ BioPharma Product Testing laboratories located in Australia, Belgium, Canada, Denmark, France, Germany, India, Ireland, Italy, Japan, the Netherlands, New Zealand, Spain, Sweden, Switzerland, the UK, and the US.
Charles River Laboratories (US) is one of the major players in the efficacy testing market. The company’s large market share can be attributed to its robust portfolio that includes traditional as well as innovative technologies and platforms that help streamline the efficacy testing process. The company provides a diverse portfolio of discovery and safety assessment services and offers various products and services to support its clients’ manufacturing activities. Charles River has more than 90 facilities in 20 countries and subsidiaries across the US, Canada, the UK, France, Italy, Spain, the Netherlands, Belgium, Germany, Poland, Ireland, Finland, Luxembourg, Japan, China, India, Korea, Hong Kong, and Australia.
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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.
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