Growing Cases of HAI to Boost the Global Sterility Testing Market | Technavio
November 24 2017 - 3:23PM
Business Wire
The latest market research report by Technavio on the global
sterility testing market predicts a CAGR of around 11% during the
period 2017-2021.
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Technavio has published a new report on
the global sterility testing market from 2017-2021. (Graphic:
Business Wire)
The report segments the global sterility testing market by
product (consumables, devices, and services) and by geography (the
Americas, EMEA, and APAC). It provides a detailed illustration of
the major factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.
Here are some key findings of the global sterility testing
market, according to Technavio researchers:
- Growing cases of HAI: a major market
driver
- In 2016, the consumables segment held
the largest market share of around 42%
- The Americas dominated the global
sterility testing market with more than 46% share in 2016
- Charles River Laboratories, Merck, SGS,
and Thermo Fisher Scientific are the leading players in the
market
This report is available at a USD 1,000 discount for a
limited time only: View market snapshot before purchasing
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Market growth analysis
Growing cases of HAI is one of the major factors driving the
global sterility testing market. The increased number of HAI cases
are causing huge financial burden for both hospitals and patients.
It also increases patient's cost burden. According to CDC, 1.7
million HAIs occur in US hospitals each year, resulting in 99,000
deaths and an estimated USD 20 billion in healthcare costs.
According to Tasneem Ali, a lead analyst at
Technavio for lab equipment research, “Sterility testing in
hospital ensures better patient safety and less risk of
contamination from the medical instruments, disposables, and
patient wards. Thus, the demand for sterility testing products is
increasing due to increasing case of HAI and an effort to reduce
them.”
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Geographical analysis
Technavio researchers anticipate high growth for the global
sterility testing market in the Americas due to higher product
demand from biotechnology and pharmaceutical companies such as
Amgen, Abbott, Bristol Mayor Squibb, Biogen Idec, and Eli Lilly.
These companies need sterility testing products to validate their
end-products are free from any microbial contamination. Among the
various countries in the Americas, the US and Canada are the
highest contributors to the market.
Competitive vendor landscape
The global sterility testing market is led by key vendors such
as Merck, SGS, Thermo Fisher Scientific, and Charles River
Laboratories. Each of these vendors adopts different strategies to
maintain their respective positions in the market and increase
market share. Merck and Thermo Fisher Scientific's major share of
revenue comes from product sales such as consumables and disposable
devices and after-sales services. SGS focuses its strategies on
generating higher revenue from offered services and renewal of the
same. Apart from these, many smaller players operate in regional
markets with a range of product offerings.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com