The global efficacy testing market is projected to reach $0.55 billion by 2028, at a CAGR of 7.5% during 2023-2028. The growth of efficacy testing market is driven by increasing regulations for pharmaceutical and cosmetic products concerning product safety, rise in research and development activities, and growing preference of consumers for products that have undergone certification and testing.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the efficacy testing market by service type (Antimicrobials/ Preservatives and disinfectant efficacy testing), application (pharmaceutical manufacturing, cosmetics and personal care products, consumer products, and medical devices), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the efficacy testing market?
Q.4 What are some changing demands of customers in the efficacy testing market?
Q.5 What are the new developments in the efficacy testing market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this efficacy testing area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this efficacy testing market?
Based on service type, the efficacy testing market is segmented into Antimicrobials/ Preservatives and disinfectant efficacy testing. The disinfectant efficacy testing segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to growing consumer awareness of personal hygiene is creating a need for surface disinfectants and its application.
North America will remain the largest region due to the growing government expenditure on healthcare, increasing use of the QbD strategy by industry players and existence of prominent pharmaceutical companies in the region.
Key Players in the efficacy testing market are Eurofins Scientific, Charles River Laboratories, Lucideon, WuXi AppTec, and Almac.
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