The Latin America, Middle East and Africa Sterility Testing Market would witness market growth of 14.0% CAGR during the forecast period (2023-2029).
The pharmaceutical industry, microbiological and pathological laboratories, and educational institutions are all experiencing increased R&D activities, a major market driver. The pharmaceutical sector is driven by cutting-edge research and development and advantageous government policies. The microbiological laboratory includes cultivating, examining, and identifying microbes like bacteria, fungi, yeasts, etc. For warming reagents, melting substrates, and incubating cell cultures, a water bath is used.
The world's biotechnology sector is booming, which will help the sterility testing market growth over the forecast period. Additionally, there are more people worried about the safety of biological pharmaceuticals. Therefore, the sterility testing market will grow due to these reasons in the years to come. Furthermore, the sterility testing method has been more effective due to recent technological advancements, which will promote market expansion.
The Saudi Arabian government's Vision 2030 plans to spend $65 billion to build the nation's healthcare system. Additionally, by 2030, it plans to increase the private sector's participation from 405 to 65%. Furthermore, they want to privatize 2,300 major health facilities, including 290 hospitals. The Ministry of Healthcare also intends to launch a health cluster throughout Saudi Arabia to advance integrated and preventative care and improve access to healthcare services. Therefore, the growing infrastructure and funding for healthcare will increase pharmaceutics demand. Furthermore, manufacturers would heavily rely on sterility testing to guarantee the safety of pharmaceuticals, which is expected to enhance the market for sterility testing.
The Brazil market dominated the LAMEA Sterility Testing Market by Country in 2022; thereby, achieving a market value of $35.3 million by 2029. The Argentina market is showcasing a CAGR of 14.6% during (2023 - 2029). Additionally, The UAE market would register a CAGR of 13.7% during (2023 - 2029).
Based on Product, the market is segmented into Kits & Reagents, Instruments and Services. Based on Test Type, the market is segmented into Membrane Filtration, Direct Inoculation and Others. Based on Application, the market is segmented into Pharmaceuticals & Biologicals, Medical Devices and Others. Based on End User, the market is segmented into Pharmaceutical Companies, Biotechnology Companies and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Sterility Testing Market is Projected to reach USD 2 Billion by 2029, at a CAGR of 10.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Charles River Laboratories International, Inc., SGS S.A., Merck KGaA, BioMérieux S.A., WuXi AppTec Co., Ltd., Sartorius AG, Samsung Biologics Co., Ltd. (Samsung Group), Nelson Laboratories, LLC (Sotera Health Company) and Pacific Biolabs, Inc.
By Product
By Test Type
By Application
By End User
By Country
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