Factors driving the growth of this market include the increasing growth of pharmaceutical companies and rising outsourcing of efficacy testing by pharma, cosmetic, and medical devices companies. The high growth potential in emerging markets will provide growth opportunities for players operating in the efficacy testing market.
Report Drivers and Opportunities:
- Increasing Support for Pharma and Biotech Sectors, Growing R&D
- Rising Outsourcing of Efficacy Testing
- Emerging Markets –Growth Hotspot for Companies
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Scope of the Report:
By product and service, the market is segmented into consumables, services, and instruments. The consumables segment is estimated to account for the largest market share of the market in 2017. Factors driving the growth of this segment include regular and bulk purchases of consumables.
On the basis of type, the market is classified into antimicrobial efficacy testing and disinfectant efficacy testing. The disinfectant efficacy testing segment is estimated to account for the largest share of the market during the next five years.
On the basis of application, the market is classified into pharmaceutical manufacturing, cosmetic and personal care products and medical devices. The pharmaceutical manufacturing segment is estimated to account for the largest share of the market during the next five years.
The market is dominated by North America, followed by Europe. North America will continue to dominate the market during the forecast period. However, Asia is expected to witness the highest CAGR from 2017 to 2022.
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The global efficacy testing market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of efficacy testing market for global, Europe, North America, Asia Pacific.
Major Market Competitors:
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) are the major players operating in the global efficacy testing market.
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