The global ophthalmology surgical devices market was valued at approximately US$ 7,000.0 Mn in 2016 and is projected to register a compounded annual growth rate (CAGR) of over 4.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Ophthalmology Surgical Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that technological advancements and presence of leading players is projected to augment the demand for ophthalmology surgical devices in the next few years (from 2017 to 2025). North America dominates the global ophthalmology surgical devices market, due to high preference for surgical procedures for eye treatment in the region. Emerging markets such as China, India, Argentina, and Brazil are likely to promote growth of the market in Asia Pacific and Latin America from 2017 to 2025.
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Strategic Collaborations and High Unmet Needs for Refractive Surgeries to drive Global Ophthalmology Surgical Devices Market
Globally, disorders such as cataract, glaucoma, and age-related macular degeneration (AMD) are the leading causes of blindness and visual impairment. The burden of eye diseases across the globe is expected to increase significantly in the next few years. According to a report published by the World Health Organization (WHO) in 2010, cataract was responsible for causing blindness in 20 million people, which represented around 51% of the world blindness. Glaucoma was estimated to cause blindness in 4.5 million people, which was around 12% of the global blindness. The continuing worldwide demographic trend of people developing myopia is expected to augment the demand for refractive surgeries required to treat the disorder in the next few years. The rate of prevalence of myopia is as high as 70% or more in countries in East Asia. Companies in the ophthalmology surgical devices market are increasingly collaborating with one another as well as with research institutes in order to develop new technologies to address the current unmet needs for eye care. In May 2016, Bausch + Lomb and HOYA Surgical Optics entered into an exclusive agreement, which helped the former to market and commercialize the latter’s wide portfolio of injectors and intraocular lenses (IOLs) in the U.S.
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Glaucoma Surgery Devices Segment to expand at a High Rate
The cataract surgery devices segment dominates the global ophthalmology surgical devices market in terms of revenue. Factors such as launch of new and innovative products, large number of patients with cataract, and government initiatives for promotion of cataract surgeries are likely to fuel the segment during the forecast period. The glaucoma surgery devices segment is estimated to expand at a CAGR of more than 4.0% during the forecast period. Factors such as rising adoption of minimally invasive glaucoma surgeries, increasing elderly population, and growing awareness among people are driving the glaucoma surgery devices segment. According to a study published by the American Academy of Ophthalmology, the prevalence of glaucoma in people aged 40–80 years in the U.S. was 64.3 million in 2013 and is set to increase to 76.0 million by 2020 and 111.8 million by 2040.
Hospitals Segment dominates in terms of Market Share
Based on end-user, the market has been classified into hospitals, ambulatory surgical centers, and ophthalmic clinics. The hospitals segment holds a major market share. The segment is estimated to expand at a CAGR of more than 4.0% during the forecast period. High preference for hospitals by patients with cataract and diabetic retinopathy, presence of a large number of hospitals with highly equipped technologies, and favorable health care insurance coverage are key factors driving the hospitals segment. The segment is likely to be followed by the ophthalmic clinics segment in the next few years. Increase in the number of ophthalmologists and independent optometrists is a key fueling factor for the ophthalmic clinics segment.
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Asia Pacific to offer High Incremental Opportunity
In terms of value, North America led the global ophthalmology surgical devices market in 2016. Rapid adoption for newer technologies and large pool of patients with eye diseases are factors responsible for the major share held by North America in the global market. However, various governments in the region are offering funds for R&D, encouraging pioneering research in the field of ophthalmic laser. Europe is the second-largest market for ophthalmology surgical devices. Increasing baby boomer population and rising incidence of eye disorders in the region are likely to propel the Europe ophthalmology surgical devices market during the forecast period. Increased participation of governments in the development of health care infrastructure and increasing disposable income of people in the region fuel the Asia Pacific ophthalmology surgical devices market. The market in Middle East & Africa was valued at approximately US$ 190.0 Mn in 2016 and is likely to expand at a CAGR of more than 3.0% from 2017 to 2025. Latin America and Middle East & Africa are likely to offer immense growth opportunities to the ophthalmology surgical devices market during the forecast period. Large number of cataract surgeries performed in countries such as Argentina and Bolivia, significant improvements, and initiatives by governments in these regions are factors that fuel the ophthalmology surgical devices market in Latin America and Middle East & Africa.
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Key Players such as Alcon, Johnson & Johnson, Vision Care, Inc., and Carl Zeiss Meditec AG to continue to lead Global Ophthalmology Surgical Devices Market
The report also provides profiles of leading players operating in the global ophthalmology surgical devices market such as Alcon, Carl Zeiss Meditec AG, Johnson & Johnson Vision Care, Inc., Bausch & Lomb, Inc., IRIDEX Corporation, Lumenis Ltd., NIDEK CO., LTD., STAAR Surgical Company, HOYA Corporation, and Glaukos Corporation. Launch of new products and strengthening of product distribution channels across different geographies are key strategies adopted by several major players. Carl Zeiss Meditec AG aims to maintain balanced distribution of revenues across individual markets. The company currently generates around 33% of its revenues from the market in EMEA, the Americas, and APAC.
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The global circular dichroism (CD) spectrometers market was valued at approximately US$ 28.0 Mn in 2016 and is projected to register a CAGR of more than 6.0% from 2017 to 2025, according to a new report titled, “Circular Dichroism (CD) Spectrometers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025” published by Transparency Market Research. The report suggests that technical advancement in CD spectroscopy, in terms of new modality, is expected to expand its applications, thereby boosting the demand for the product during the period, 2017 to 2025. As key players introduce their advanced CD spectrometers and new add-on accessories in the developed markets such a North America and Western Europe, these regions are projected to account for a dominating share of the global CD spectrometers market. Surge in public and private sector funding for R&D programs in the emerging markets such as China and India is projected to boost the growth of the CD spectrometers market in Asia Pacific at a CAGR of around 7.0% from 2017 to 2025.
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Expanding applications of FDCD and Stopped Flow CD in proteomics study to boost CD spectrometer uptake
CD spectrometers are a type of analytical instrument used to study the molecular structure and chiral activity of biomolecules and other organic compounds. CD spectrometers are widely used in the study of proteins, DNA, and their conjugates. Earlier, CD spectrometers had limited applications which had restricted their adoption to academic institutes only. In recent times, key suppliers and researchers in CD spectrometers have developed new modalities of the product, such as fluorescence detected CD, magnetic CD, vibrational CD, circularly polarized luminescence (CPL), and stopped flow CD, which have supported researchers to perform in-depth study of biomolecule’s molecular structure and chiral activity at their ground state, photon excitation state, and also the impact of various factors such as temperature, pH, salinity, etc. on these attributes. As the pharmaceutical industry and researchers are hiking their R&D expenditure on new therapeutic entities such as biological drugs, demand for CD spectrometers is anticipated to surge up. However, CD spectrometer is an expensive capital equipment, which requires specialized infrastructure and skilled workforce. Moreover, use of alternative analytical tools such as Raman spectroscopy, Nuclear Magnetic Resonance (NMR) spectroscope, and X-ray crystallography is anticipated to restrain the uptake of CD spectrometers.
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Multiple Light Source CD Spectrometers to Gain Market Share
The report offers detailed segmentation of the global circular dichroism (CD) spectrometers market based on product and end-user. Among the product types studied, the circularly polarized light sources segment is poised to account for the leading share of the global market during the forecast period from 2017 to 2025. The circularly polarized light sources CD spectrometers segment is expected to get a boost due to high demand for the product in the emerging markets; easy assembly and operation and comparatively low price of these spectrometers are the factors driving their market share. The multiple light sources CD spectrometers segment is anticipated to witness rapid expansion during the forecast period at a CAGR of around 7.0%. These CD spectrometers provide chiral activity’s study of a biomolecule at various wavelengths and in shorter time. The linearly polarized light sources segment is estimated to lose its market share during the forecast period from approximately 16.0% in 2016 to approximately 15.0% by 2025.
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Government and Private Research Organizations in Emerging Markets Poised to be Lucrative End-users
Among end-users, government and private research organizations are the leading contributors to the global CD spectrometers market. The segment is projected to constitute the dominant share of the global CD spectrometers market during the forecast period and is estimated to expand at a CAGR of around 7.0% from 2017 to 2025. Upsurge in funding from the public and private sectors for various research programs in developed markets is anticipated to propel this growth. Rising number of government and private institutes and universities in the emerging markets such as China, India, and Southeast Asia is estimated to fuel the market. Contract research organizations (CRO) is projected to be an emerging end-user segment of CD spectrometers in the emerging markets.
Asia Pacific to Resister Exponential Growth and Offer Huge Incremental Opportunity
In terms of value, North America was the leading contributor to the global circular dichroism (CD) spectrometers market in 2016. High public and private sector funding for research programs in the U.S. is one of the contributing factors toward the major share of the CD spectrometers market in the region. Stringent regulations and policies regarding documentation of the chiral nature of drug entities in the U.S. is leading the pharmaceutical industry and CROs to adopt analytical tools such as CD spectrometers. According to the National Center for Science and Engineering Statistics (NCSES), expenditure on R&D in the U.S. increased at a CAGR of 4% from 2013 to 2015. The trend is estimated to continue in the near future. Increasing cost of R&D processes and stringent rules and regulations for R&D in the developed regions such as the U.S. and Western Europe are compelling pharmaceutical companies to outsource their R&D activities to CROs in Asia Pacific. Moreover, initiatives undertaken by governing bodies in the region to develop higher education infrastructure is expected to fuel the CD spectrometers market in Asia Pacific at a CAGR of around 7.5% from 2017 to 2025.
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The report also provides profiles of leading players operating in the global circular dichroism (CD) spectrometers market such as Jasco, Applied Photophysics Ltd., Bio-Logic Science Instruments, Inc., Aviv Biomedical, Inc., On-Line Instrument Systems, Inc. (Olis), and Bruker. Most of these key players emphasize on development of new CD modalities such as fluorescence detected CD, stopped flow CD, vibrational CD, etc. These modalities are offered as an add-on accessory or standard feature of CD spectrometer. Expansion of geographic reach through collaborations and distribution agreements is a key strategy adopted by these key players; for example, Hinds Instruments, a manufacturer of photoelastic modulators, has developed microplate CD reader and licensed it to Bio-Logic Science Instruments, Inc. for global distribution.
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The worldwide market for advanced wound care management market is a consolidated one with a few companies that are technologically and scientifically advanced, reports Transparency Market Research (TMR) in a new report. The four top companies, namely Molnlycke Health Care, ConvaTec Group plc., Smith and Nephew, and Acelity L.P. Inc. held close to 65% market share in 2015. These topnotch companies are making significant investments in R&D so as to develop innovative products and stay in the lead. Competitive prices offered by top shots renders intense competition amongst them.
As per the TMR report, the global advanced wound care management market is likely to display a CAGR of 6.3% between 2017 and 2024. Expanding at this rate, the market which stood at US$7,268.1 mn will become worth US$11,161.6 mn by the end of 2024. Among the key product types, advanced wound dressings currently hold leading share in the overall market. Going ahead, the segment is likely to expand at the leading growth rate. Venous leg ulcers, on the basis of type of wound, holds the leading market share due to high incidence of leg ulcer cases.
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Rising Literacy in Developing Countries Accounting for Early Medical Help for Wounds Benefits Market
The advanced wound care management market is primarily driven by the rising incidence of chronic wounds. Chronic wounds generally require longer healing time and if not treated on time can lead to complications. Chronic wounds account for significant burden on public healthcare systems worldwide that have socioeconomic implications. According to statistics, currently more 4.5 million individuals suffer from pressure ulcers and more than 9.7 million individuals with venous ulcers.
Diabetic ulcers – a type of chronic wounds are growing at a rapid pace due to increasing incidence of Type 1 and Type 2 diabetes especially in developed economies. Diabetic ulcers is growing at 9% annually which outpaces the rate of development of new therapeutics. Patient pool of diabetic ulcer patients is currently close to 10.0 million.
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Worldwide, growing elderly population above the age of 65 years is stoking demand for advanced wound care. As per statistics of the U.S. Census Board, individuals above the age of 65 years are estimated to account for 20% of the population by 2030. This population that is susceptible to falls and injuries require longer healing time that can impact quality of life and can also cause social distress. According to the Wound Healing Society, in the U.S., almost 15% individuals above the age of 65 years suffer from chronic wounds, which mainly include venous stasis ulcers, pressure ulcers, and diabetic foot ulcers.
Increasing patient awareness about early treatment of wounds is stoking demand for wound care products. Rising disposable income and increasing literacy especially in developing countries is leading individuals to seek early medical help for wounds before it leads to infection or other complications.
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Apart from this, commercial availability of different skin substitutes for treating chronic wounds is benefitting the advanced wound care management market. Skin substitutes help reduce healing time and reduce the risk of complications associated with burns, trauma, surgical cuts, and skin breakouts.
Limited Reimbursement Scenario Challenges Growth in the U.S.
On the downside, high cost of advanced wound care products over traditional wound dressing account for their limited adoption. For instance, in the U.S., the cost of managing pressure ulcer with advanced wound care products ranges from US$7,000 to US$55,000. Such costs are mostly affordable by the affluent thus makes for a smaller market. Limited reimbursement for advanced wound care products is a restrain to the growth of this market in the U.S.
The global Wound Healing market was valued at approximately US$ 23.3 Bn in 2016 is projected to register cumulative annual growth rate (CAGR) of over 4.8% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Wound Healing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that increasing patient pool for chronic wounds is likely to spur the demand of wound healing products in the coming years (2017 to 2025). As key players introduce technologically advanced wound healing solutions in developed markets such a North America and Europe, these regions are likely to account for dominating share of the global wound healing market. Established presence & wide distribution networks of major players and growing market penetration of emerging players are likely to boost growth of Asia Pacific wound healing market at a CAGR of around 5.3% from 2017 to 2025.
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High Cost of Advanced Wound Care Products to Restrain Global Market Expansion
According to the Centers of Disease Control (CDC) statistics, an estimated 450,000 – 500,000 patients suffer from burn injuries each year in the U.S. The direct costs of treatment of burn injuries in the U.S., was estimated to be around US$ 10.4 Bn. Wounds impose underappreciated burden on the population across the globe and they account for the majority of injuries related to skin. Rise in the prevalence of diabetes and obesity, and increasing adoption rate for wound care therapy devices in developed and emerging markets are likely to fuel the uptake of wound healing products by 2025. However, high price of newly launched and technologically advanced wound care products restricts their demand. Conventional wound healing products are preferred over technologically advanced costly dressings in the emerging economies, despite their slow healing process. The price sensitive market of developing nations thus restricts the growth of advanced wound management technologies, which in turn has attributed for devaluation of the market, thereby restraining growth of global wound healing market.
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Wound Closure Agents to Lose Market Share
The report offers detailed segmentation of global Wound Healing market based on product, wound type, and gender. Among the product types studied, wound closure agents segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Topical agents segment which comprises hemostatic agents, antimicrobials, wound cleansers, and others are likely to get boost from their ongoing R&D activities, in turn estimating highest number of new product launches in the near future. The wound closure agents segment is anticipated to lose its market share during the forecast period, and is expected to hold a share of 24.0% by 2025 from 28.1% in 2016. Availability of other advanced wound healing products with reduced risk of infection are factors likely to hamper the market share of this segment.
Chronic Wounds to Be the Most Promising Wound Type to Invest In
Among wound types, chronic wounds segment is projected to hold dominant share of global wound healing market during the forecast period and is likely to expand at CAGR of around 5.0% from 2017 to 2025. From chronic wounds, ulcers sub-segment is expected to lead the global wound healing market in terms of CAGR by 2025. As per the Agency for Healthcare Research & Quality (AHRQ), in U.S. US$ 9.0 Bn to US$ 11.0 Bn are spent on pressure ulcers by health care systems annually. Significant patient population, and availability of favorable reimbursement policies which are driving manufacturers’ focus on business expansion in advanced wound care products are projected to fuel this expansion. Significant economic burden of surgical site infections (SSI), and higher treatment costs associated with it is expected to propel the expansion of chronic wound segment during 2017-2025.
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Women are to Capture Relatively Significant Market Share during the Forecast Period
In case of women, especially in low and middle income countries, there is significant gap between reported and actual cases of diabetes and chronic wounds, which is anticipated to improve during forecast period. In terms of gender, women segment held 52.9% of global wound healing market share in terms of revenue. Initiatives such as Wound Awareness Week and other outreach programs are projected to increase the awareness in significant patient population.
Asia Pacific to Register Exponential Growth Rate and Offer Huge Incremental Opportunity
In terms of value, North America was leading contributor in global wound healing market in 2016. As per the data published by ‘Wound Care Awareness Week–2017’, the annual cost (including direct as well as indirect costs) of treatment of all types of wounds incurred to health care systems in the U.S. is US$ 50.0 Bn, while the annual cost of amputations exceeds US$ 8.0 Bn. High prevalence of chronic wound in this region is imposing significant economic burden and is increasing demand for affordable care in the U.S., which in turn is driving the growth of wound healing market in North America. Healthcare spending in emerging markets such as China and India are rising, which is fueling the expansion of Asia Pacific wound healing market. Geographical expansion of international players to this region through distribution and licensing agreements with local distributors in the region are anticipated to propel the growth of Asia Pacific in global wound healing market at CAGR of 5.3% from 2017 to 2025. Regaining economic growth in Latin America countries such as Brazil is augmenting healthcare expenditure through rise in private health insurance, entry of international wound healing products manufacturers & health care providers in this region. It is one of the major factor for the estimated growth of Latin America during 2017-2025.
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Key Players such as Acelity L.P., Inc., Smith & Nephew plc, and Mölnlycke Health Care AB are Likely to Continue to Lead the Global Wound Healing Market
The report also provide profiles of leading players operating in global wound healing market include Smith & Nephew plc, Integra LifeSciences Corporation, B. Braun Melsungen AG, Mölnlycke Health Care AB, 3M Healthcare, Ethicon, Inc. (Johnson & Johnson), Hill-Rom Holdings, Inc., Cardinal Health, Acelity L.P., Inc., ConvaTec Inc., BSN medical (Svenska Cellulosa Aktiebolaget SCA), Coloplast Group, Medline Industries, Inc., Organogenesis Inc., and Hollister Incorporated. Expansion of wound healing portfolio by acquiring the wound healing platform of emerging players is a key strategy adopted by many key players.
The global sterility testing market was valued at approximately US$ 750.0 Mn in 2016 is projected to register cumulative annual growth rate (CAGR) of over 7.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Sterility Testing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. The report suggests that increase in research & development activities is outgrowth the demand of sterility testing in the coming years (2017 to 2025). North America dominating the sterility testing market due to establishment of new biopharmaceutical companies as well as quick adoption of advanced technology. The emerging markets such as China, India and Brazil is likely to boost growth of Asia Pacific and Latin America sterility testing market at a CAGR of more than 7.0% from 2017 to 2025.
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Technological Advancement and Strategic partnerships to Drive Global Sterility Testing Market
Technological improvements in devices and reagents available for sterility testing have aided in easing the process and contributed to market growth. This change in sterility requirements is an exciting development for the rapid microbial testing business. Manufacturers operating in the sterility testing market have entered into various strategic mergers & acquisitions and partnerships that enabled them to enhance market position and expand customer base. For instance, bioMérieux and Shimadzu have worked in partnership to develop their linear MALDI-TOF mass spectrometry technology for improved incorporation into the microbiology laboratory workflow. Similarly, BD Diagnostics and Bruker entered into a partnership to improve Bruker MALDI Biotyper for microbial identification and antimicrobial susceptibility testing.
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Instruments and Biopharmaceutical Manufacturing Segment Market to Grow At High Rate
The kits and reagent segment dominate the sterility testing market in terms of revenue. The advantages of kits and reagents segment includes product affordability, easy product availability, increase in research and development activities and high awareness for kits and reagents are likely to fuel the growth of the segment. The instruments segment is the highly growing segment at a CAGR of more than 8.0%. Factors such as technological advancement, growing demand for automated products, favorable reimbursement scenario and rapid process are key factors driving the instruments segment. According to the European Federation of Pharmaceutical Industries & Associations, in 2016, the pharmaceutical sector in Brazil and China expanded at a growth rate of 10.0% and 6.9% respectively. The same year, the pharmaceutical sector in the European Union and the U.S. expanded at an average growth rate of 4.5% and 6.3% respectively. In terms of application sterility testing is highly preferred in biopharmaceutical manufacturing. Rising demand for high-quality and innovative products and growing prevalence of chronic diseases are key driving factors for the biopharmaceutical manufacturing segment.
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Traditional Sterility Tests Dominates In Term of Market Share
Sterility tests type is classified into traditional sterility tests and rapid sterility tests. In terms of test type traditional sterility tests contributes high market share. High acceptance among sterility testing service providers, high awareness about traditional sterility tests, low startup cost, high preference for membrane filtration tests are the key factors driving the traditional sterility tests segment. Rapid sterility tests is the highly growing segment at a CAGR of more than 8.0%. Increase in health care investment, technological advancements and rise in investment for research & development are expected to fuel the growth of the rapid sterility tests segment.
Asia Pacific to Offer Huge Incremental Opportunity
In terms of value, North America was leading contributor in global sterility testing market in 2016. Technological advancements, rapid adoption for newer technologies, and presence of a large number of providers of pharmaceuticals as well as medical devices are contributing factor for major share of the North America market. However launch of new, innovative products and an expanding skill base in North America implies that more people in the region will have access to advanced technology during the forecast period. Europe is the second largest market. Rise in research & development activities, increase in export of manufactured products to other countries are likely to accelerate Europe sterility testing market. The increase in number of pharmaceutical and biopharmaceutical companies and rising demand for drug products fueling the Asia Pacific sterility testing market. The Middle East & Africa region was valued at approximately US$ 27.1 Mn and likely to propel at a CAGR more than 6.5% from 2017 to 2025. Latin America and Middle East & Africa will create good market opportunity for sterility testing market. The increasing coverage of private health insurance coverage, rapid population growth, rise in prevalence of lifestyle diseases such as diabetes and cardiovascular disorders etc. are the factors fuel the rest of the Rest of the world sterility testing market.
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Key Players such as Merck KGaA, bioMérieux, Inc and Thermo Fisher Scientific Inc., are Likely to Continue to Lead the Global Sterility Testing Market
The report also provide profiles of leading players operating in global sterility testing market include Merck KGaA, bioMérieux, Inc, Sartorius AG, Thermo Fisher Scientific Inc., Charles River Laboratories International, Inc., Solvias AG, Becton, Dickinson and Company, Rapid Micro Biosystems, Inc. Merger & acquisition activities, new product innovation are the the key strategy adopted by many key players. In July 2015, Celsis International, Ltd., a leading provider of rapid testing systems for bacterial contamination acquired by Charles River Laboratories International, Inc.