Efficacy Testing Market worth $333 million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 6, 2020 /PRNewswire/ -- According to the new market research report "Efficacy Testing Market by Service Type (Antimicrobial/Preservative Efficacy Testing, Disinfectant Efficacy Testing (Surface, Suspension)), Application (Pharmaceutical Manufacturing, Cosmetic & Personal Care Products, Consumer) - Global Forecast to 2025", published by MarketsandMarkets™, the global Efficacy Testing Market is projected to reach USD 333 million by 2025 from USD 261 million in 2020, at a CAGR of 5.0% during the forecast period.
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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.
Surface test method accounted for the largest share of disinfectant efficacy testing market
Based on method, the disinfectant market is segmented into surface test and suspension test methods,. In 2019, the surface test method segment accounted for the largest share of disinfectant market. The growth of this segment is majorly attributed to factors such as the rising burden of cancer and the favorable reimbursement scenario for efficacy testing tests.
The antimicrobial/preservative efficacy testing segment accounted for the fastest-growing service type segment of the market
Based on service type, the efficacy testing market is segmented into antimicrobial/preservative efficacy testing (AET/PET) and disinfectant efficacy testing. In 2019, the antimicrobial/preservative efficacy testing (AET/PET) segment is estimated to grow at the highest CAGR during the forecast period. The growth of this segment is majorly attributed to increasing use of preservatives in pharmaceutical and cosmetic industry.
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North America accounted for the largest share of the efficacy testing market
North America accounted for the largest share of the market, followed by Europe in 2019. The growth in this regional market can be attributed to 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.
The prominent players operating in the efficacy testing market are Eurofins Scientific (Luxembourg), Charles River Laboratories (US), WuXi AppTech (China), and SGS (Switzerland).
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