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Bioburden Testing Market Trends 2020 "Driven by Contract Manufacturing Organizations"

 



(IT-NEWSWIRE.COM, March 25, 2020 ) The bioburden testing market is witnessing growth due to factors such as growth in the medical devices, pharmaceutical, and biotechnology industries; rising safety concerns related to food and beverage products; and the increasing number of product recalls due to microbial contamination are expected to drive the growth of this market during the forecast period. However, the high cost of enumeration instruments is expected to restrain market growth in the coming years.

MarketsandMarkets forecasts the bioburden testing market to grow from USD 1.10 billion by 2023 from USD 0.61 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 12.4%

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CMOs segment to account for the largest share of the bioburden testing market in 2018

Based on end user, the bioburden testing market is segmented into pharmaceutical and biotechnology companies, medical device manufacturers, contract manufacturing organizations (CMOs), manufacturers of food & beverage and agricultural products, and microbial testing laboratories. In 2018, contract manufacturing organizations end user segment are expected to register the highest CAGR during the forecast period. The growth of the CMOs end-user segment can be attributed to the increasing outsourcing of manufacturing processes from pharmaceutical and biotechnology companies.

North America is expected to account for the largest market size during the forecast period

The market is dominated by North America, followed by Europe, Asia, and RoW. North America is expected to continue to dominate this market in the forecast period. The large size of the North American biotechnology industry will aid in the growth of the bioburden testing market in this region. However, Asia is expected to grow at the highest CAGR during the forecast period. Strong investments and rapid growth in the pharmaceutical and biotechnology industries will drive the growth of the bioburden testing market in this region.

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Key Players:

The bioburden testing market is competitive in nature, with several big as well as emerging players. Prominent players in this market include Charles River (US), Merck KGaA (Germany), SGS SA (Switzerland), WuXi AppTec (China), Becton, Dickinson, and Company (US), NAMSA (US), Nelson Laboratories, LLC (US), Thermo Fisher Scientific, Inc. (US), Biomérieux SA (France), and Pacific BioLlabs (US)

MarketsandMarkets™

Mr. Sanjay Gupta

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com



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