during the forecast period. The growth of this market is mainly driven by the increasing use of surface disinfectants and preservatives in pharma, biopharma, and cosmetics industries for contamination control and product stability; growing preference for outsourcing efficacy testing; and the rising adoption of the QbD approach.
New York, July 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Efficacy Testing Market by Service Type, Application and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05304230/?utm_source=GNW
The high growth potential in emerging markets will provide growth opportunities for players operating in the efficacy testing market.
By method type, the traditional test method accounted for the largest share of the antimicrobial/preservative testing market
Traditional testing methods generally require microbial assays at multiple test points over extended periods of time.Test durations typically range from a minimum of 28 days to 12 or more weeks.
Because standard microbiological techniques similar to those employed in longer-term generic challenge protocols are involved, no special equipment or training is necessary to perform the assay. In fact, this accelerated double challenge (ADC) assay is currently being used in its basic form or in variations at numerous laboratories for a variety of applications.
The pharmaceutical manufacturing application segment will grow at the highest rate during the forecast period.
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.In 2021, pharmaceutical manufacturing applications were the largest product segment in the market.
Growth in this market can be attributed to the increasing R&D manufactures by leading pharmaceutical companies, government support, growth of the pharmaceutical industry, and a growing focus on patient safety.
The market in the Asia Pacific is projected to witness the highest growth rate during the forecast period (2020–2027).
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to the increasing government expenditure on healthcare, rising geriatric population, growing consumer health awareness, increasing incidence of chronic diseases thereby being responsible for the growth of pharmaceutical products in this region, and the increasing number of pharmaceutical companies that are establishing manufacturing facilities in APAC countries.
North America: the largest share of the efficacy testing market
North America accounted for the largest share of the efficacy testing market. Factors such as the presence of a well established pharmaceutical industry in the region, the high R&D expenditure, a strong presence of major service providers, and rising outsourcing of analytical testing (including efficacy testing) by pharmaceutical and cosmetic companies in the region are the major factors driving the market growth.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Respondent– Supply Side- 80%, Demand Side-20%
• By Designation— Executives- 25%, CXOs- 20%, Managers - 55%
• By Region— North America - 50%, Europe - 20%, APAC – 20%, RoW- 10%
The key players operating in the efficacy testing market are 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).
The report segments the efficacy testing market based on region (Asia Pacific, Europe, North America, and RoW), service type (disinfectant efficacy testing and antimicrobial/preservative efficacy testing), application (pharmaceutical manufacturing applications, cosmetics and personal care product applications, consumer product applications, and medical device applications).
The report also provides a comprehensive review of market drivers, challenges, and opportunities in the efficacy testing market
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the efficacy testing market and provides them information on key market drivers, challenges, and opportunities.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the efficacy testing market. The report analyzes the market based on the service type, application, and region.
• Service Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and service/product launches in the efficacy testing market.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of efficacy testing solutions across regions.
• Market Diversification: Exhaustive information about products/ services, untapped regions, recent developments, and investments in the efficacy testing market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the efficacy testing market.
Read the full report: https://www.reportlinker.com/p05304230/?utm_source=GNW
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