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14-Dec-2018

$1.1 Bn Bioburden Testing Market by Product, Test, Application, End User - Global Forecast to 2023 - ResearchAndMarkets.com

The "Bioburden Testing Market by Product, Test, Application, End User - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The bioburden testing market is projected to reach USD 1,103 million by 2023 from USD 614 million in 2018, at a CAGR of 12.4% during the forecast period.

A number of factors, such as the 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.

North America is expected to account for the largest share of the bioburden testing market in 2018. The large size of the North American biotechnology industry will aid in the growth of the bioburden testing market in this region.

However, the Asian market 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.

Market Dynamics

Drivers

  • Growth in the Medical Devices, Pharmaceutical, and Biotechnology Industries
  • Rising Safety Concerns Related to Food and Beverage Products
  • Increasing Number of Product Recalls Due to Microbial Contamination

Restraints

  • High Cost of Enumeration Instruments

Opportunities

  • Growth Opportunities in Emerging Economies

Challenges

  • Shortage of Skilled Professionals

Companies Mentioned

  • BD
  • Biomrieux SA
  • Charles River
  • Merck KGaA
  • Nelson Laboratories, LLC
  • North American Science Associates Inc. (NAMSA)
  • Pacific Biolabs
  • SGS SA
  • Thermo Fisher Scientific
  • Wuxi Apptec

For more information about this report visit https://www.researchandmarkets.com/research/bqdtmr/1_1_bn_bioburden?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20181214005115/en/

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Last Updated: 14-Dec-2018