Global Efficacy Testing Industry

Global Efficacy Testing Industry

  • October 2022 •
  • 689 pages •
  • Report ID: 5798446 •
  • Format: PDF

What’s New for 2022??

Global competitiveness and key competitor percentage market shares

Market presence across multiple geographies - Strong/Active/Niche/Trivial

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Complimentary updates for one yearGlobal Efficacy Testing Market to Reach $866.3 Million by 2027
- In the changed post COVID-19 business landscape, the global market for Efficacy Testing estimated at US$425.4 Million in the year 2020, is projected to reach a revised size of US$866.3 Million by 2027, growing at a CAGR of 10.7% over the analysis period 2020-2027. Consumables, one of the segments analyzed in the report, is projected to record a 11.4% CAGR and reach US$503.4 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Instruments segment is readjusted to a revised 9.6% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $132.2 Million, While China is Forecast to Grow at 12.3% CAGR
- The Efficacy Testing market in the U.S. is estimated at US$132.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$118.4 Million by the year 2027 trailing a CAGR of 12.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8% and 9.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$78.1 Million by the year 2027.
- Services Segment to Record 10.1% CAGR
- In the global Services segment, USA, Canada, Japan, China and Europe will drive the 10.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$50.9 Million in the year 2020 will reach a projected size of US$98.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 11.2% CAGR through the analysis period.

Select Competitors (Total 70 Featured)
Eurofins Scientific SE
Merck KGaA
WuXi AppTec
Charles River Laboratories Inc.
Pacific Biolabs Inc.