The development of a new product is a long path full of pitfalls. Before the commercialization, clinical tests are usually carried on by laboratories or in-house to learn more about the product's characteristics. Efficacy testing is a set of procedures in product research and development that are conducted to test the product's intended purpose in order to substantiate those all-important claims that appear on your packaging or in your advertisements.
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EFFICACY TESTING MARKET DYNAMICS
The major driving force of the market is the increasing pharmaceutical and biotechnology industry driven by government support and the positive trend in the research and development work in the life science sector. Moreover, pharmaceutical companies are increasingly outsourcing research activities to academic and private contract research organizations (CROs) as a strategy to stay competitive and flexible in a world of exponentially growing knowledge, increasingly sophisticated technologies. For instance, Bristol-Myers Squibb has partnered with Allied Minds, a Boston-based group focused on the commercialization of academic research, to scour American universities for innovative drug discovery idea. Such activities will likely to boost the growth of the market further.
EFFICACY TESTING MARKET SEGMENTAL HIGHLIGHTS
The report analyses the global efficacy testing market based product and services, types, application and geography.
EFFICACY TESTING MARKET BY PRODUCT AND SERVICES
The product and service of efficacy testing included in the study are consumables, services, and instruments. The consumables segment is expected to have the largest demand since these needs to be purchased repeatedly and in bulk quantity. Increasing R& D activities oh pharmaceutical industries supported by the various governments is the major factors contributing to the large share of this segment.
EFFICACY TESTING MARKET BY TYPES
By type, the efficacy testing market is segmented antimicrobial/preservative efficacy testing, disinfectant efficacy testing. An antimicrobial effectiveness testing is undertaken to ensure that the preservative maintains its ability to inhibit micro-organisms and is required by British Pharmacopoeia (BP), European Pharmacopoeia and United States Pharmacopoeia standards.
EFFICACY TESTING MARKET BY APPLICATION
The market finds application in pharmaceutical manufacturing, cosmetic and personal care products and medical devices. Efficacy testing is carried out at all levels of manufacturing to minimize the risk of product contamination in these industries. The pharmaceutical manufacturing segment is estimated to observe the largest demand for these testing owing to the increasing R&D expenditure by pharmaceutical companies and growth of the pharmaceutical industry.
EFFICACY TESTING MARKET BY GEOGRAPHY
The Efficacy Testing market is studied for the key regions including North America, Europe, Asia Pacific and Rest of the World. North America dominated the efficacy testing market and is likely to show substantial growth during the forthcoming years. High research and development investment by pharmaceutical companies in this region and strict drug development regulations and increasing government funding for life science research activities further augmented the demand for efficacy testing.
EFFICACY TESTING MARKET KEY PLAYERS
Key players in the global Efficacy Testing market include Eurofins Scientific, Charles River Laboratories International, Becton, Dickinson and Company, SGS, Merck KGaA, bioMérieux , Pacific Biolabs , WuXi AppTec , North American Science Associates, and American Type Culture Collection among others.
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