U.S. Pharmaceutical Sterility Testing Market Strategic Trends ,Growth, Revenue, Demand & Forecast Till 2025 | Grand View Research, Inc
“The U.S. pharmaceutical sterility testing market size was estimated at USD 302.2 million in 2017. It is expected to register a CAGR of 11.3% over the forecast period.�
The U.S. pharmaceutical sterility testing market size is expected to reach USD 713.6 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 11.3% over the forecast period. Supportive government investment in healthcare industry, increasing R&D activities, and drug launches are the key factors driving market growth. The government is keen on bringing down healthcare costs which is anticipated to encourage the U.S. Food and Drug Administration (FDA) to promote fast approvals of generic pharmaceuticals. Faster approvals drive the need for newer sterility testing methods. This is anticipated to encourage market participants to spend more on sterility solutions and in turn, expand the market. With increasing demand for drugs, companies are launching newer drugs with different routes of administration, dosage, and indication. These launches require thorough sterility testing and thus, are anticipated to drive market growth. On the basis of type, the U.S. pharmaceutical sterility testing market is segmented into in-house and outsourcing. Most market players prefer outsourcing sterility testing services, as it is economically viable. Companies shortlist and select outsourcing firms based on their experience, expertise, and quality of service. Hence, it is difficult for new players to enter into this area.
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