Efficacy Testing Market

Efficacy Testing Market Outlook (2023 to 2033)

Newly-released efficacy testing market analysis report by Fact.MR reveals that global sales in 2022 were held at US$ 320 million. With 6.4% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 650 million by the end of the forecast period. Disinfectant efficacy testing is expected to be the significant revenue-generating type, projected to grow at a CAGR of over 6.2% from 2023 to 2033.

Attributes	Details
Global Efficacy Testing Market Size (2022)	US$ 320 million
Global Efficacy Testing Market Size (2033)	US$ 650 million
Global Efficacy Testing Market CAGR (2023 to 2033)	6.4%
U.S. Efficacy Testing Market CAGR (2023 to 2033)	6.2%
Key Companies Covered	Charles River Laboratories Wuxi App Tec Eurofins Scientific SGS Intertek Group Nelson Laboratories, Llc Microbac Laboratories, Inc. Almac Group North American Science Associates, LLC ALS Limited Pacific Biolabs MSL Solution Providers Accugen Laboratories, Inc. Lucideon

Revenue of Efficacy Testing Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the research of the efficacy testing market by Fact.MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 10.6% CAGR. With an absolute dollar opportunity of US$ 300 million, the market is projected to reach a valuation of US$ 650 million by 2033.

What are the Key Drivers Influencing Efficacy Testing Market Expansion?

The key drivers influencing the market expansion include increasing demand for quality and safe products, technological advancements, growing prevalence of chronic diseases, rapid growth in research and development, huge Investment by the government, and mandatory regulations by the government.

Efficacy testing refers to the process of evaluating the effectiveness of a product, substance, or treatment in achieving its intended purpose. This testing is often used to determine whether a product is safe and effective for its intended use, and it is typically performed in a laboratory or clinical setting. Efficacy testing is used in various industries, including pharmaceuticals, cosmetics, food and beverages, and agricultural products, to evaluate the safety and effectiveness of products. For instance, in the pharmaceutical industry, efficacy testing is used to evaluate the effectiveness of drugs in treating a specific disease or condition.

According to the World Health Organization (WHO), in 2019, over 18.1 million new cancer cases were diagnosed worldwide, and 9.6 million cancer-related deaths. These numbers represent a significant increase from the previous year and is expected to continue to rise as the global population grows and ages. Efficacy testing plays a critical role in the development of new cancer drugs and therapies, and it is also used to evaluate the effectiveness of these treatments and identify the most promising treatments for further development. This is expected to influence the market growth.

Region-Wise Analysis :

Which Region is Projected to Offer Significant growth in the Market?

North America is a prominent market for efficacy testing with a market size of US$ 80.3 million in 2022. It is projected that the region will have a market worth US$ 163.1 million by 2033.

According to research, over 3.4 million cases were diagnosed with diabetes in 2019. The cases were increasing rapidly due to the growing age and population. Efficacy testing is essential in diabetes to ensure that treatments are safe and effective in improving glycaemic control and reducing the risk of complications associated with the disease. It also plays a critical role in the development of new treatments and the ongoing evaluation of existing treatments to ensure that they remain effective over time.

Country-Wise Analysis :

United States Efficacy Testing Market Analysis :

The market in the United States is expected to grow to be worth US$ 140.6 million by 2033, with an absolute dollar growth of US$ 63.4 million from 2023 to 2033. The market in the country has grown at a CAGR of 10.1% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from 2023 to 2033.

According to research, in 2018, the cosmetics market in the United States was valued at US$ 89.5 billion. The market includes various cosmetic products, such as skin care, hair care, makeup, fragrances, and personal care products. The makeup category had sales of over US$ 18.8 billion and skin care product sales of around US$ 17 Billion. The growing demand for quality and safe products in industries such as pharmaceuticals, and cosmetics have been driving the market. Companies are investing in efficacy testing to ensure their products meet regulatory standards and are safe for consumers.

United Kingdom Efficacy Testing Market Analysis :

The market in the United Kingdom is expected to grow to be worth US$ 25 million by 2033, with an expected absolute dollar growth of US$ 10.3 million. The market in the United Kingdom has grown at a CAGR of 8.9% from 2018 to 2022 and is expected to grow at a CAGR of 5.5% from 2023 to 2033.

According to research, in 2019 over 920 thousand cases were living with heart failure and about 160 thousand deaths were reported in the United Kingdom. Efficacy testing is essential in heart failure to ensure that treatments are safe and effective in improving symptoms and outcomes associated with the disease. It also plays a critical role in the development of new treatments and the ongoing evaluation of existing treatments to ensure that they remain effective over time.

China Efficacy Testing Market Analysis :

In China, the market is expected to grow to be worth US$ 83.4 million with an absolute dollar growth of US$ 35.9 million. The market in China has grown at a CAGR of 9.6% from 2018 to 2022 and is expected to grow at a CAGR of 5.8% from the year 2023 to 2033.

According to research, in 2019, over US$ 8.5 billion was invested in the healthcare sector in China by venture capital firms for the development of new drugs and treatments. Also, the Chinese government has been actively promoting investments in the healthcare sector, including initiatives such as ‘Healthy China 2030’ plan. This plan includes promoting innovations and investments in the healthcare sector, including the development of new drugs and treatments and the promotion of research and developments in the field of efficacy testing.

India Efficacy Testing Market Analysis :

The market in India is expected to grow to be worth US$ 68.1 million by 2033, with an absolute dollar growth of US$ 26 million. The market in the country has grown at a CAGR of 8.3% from 2018 to 2022 and is expected to grow at a CAGR of 4.9% from 2023 to 2033.

According to GLOBOCAN 2018, around 32 thousand cases were diagnosed and 29 thousand deaths were reported due to liver cancer. Hepatitis B and Hepatitis C infections are the leading factors responsible for liver cancer. Efficacy testing in liver cancer typically involves assessing the effectiveness of different treatments for the disease.

Japan Efficacy Testing Market Analysis :

In Japan, the market is expected to grow to be worth US$ 41.7 million with an absolute dollar growth of US$ 15.1 million. The market in Japan has grown at a CAGR of 7.7% from 2018 to 2022 and is expected to grow at a CAGR of 4.6% from 2023 to 2033.

The Japanese government has been actively promoting the development of new drugs and treatments, and efficacy testing plays a critical role in this process.

In 2019, the Japanese government announced plans to invest around US$ 914 million in the development of innovative drugs and treatments. This investment includes funding for clinical trials and efficacy testing, as well as support for research and development in the pharmaceutical industry. Due to the increase in government investments, the market is expected to rise.

Category-Wise Insights

Through Which Service Type Efficacy Testing Revenue is projected to Witness Significant Growth?

Revenue through Disinfectant Efficacy Testing is projected to witness significant growth with a CAGR of 10.4% from 2018 to 2022.

Disinfectant efficacy testing is the process of evaluating the effectiveness of disinfectants in killing or inactivating microorganisms on surfaces. This testing is typically conducted in laboratories and follows specific guidelines and protocols to ensure the accuracy and consistency of results.

The primary goal of disinfectant efficacy testing is to ensure that disinfectants are effective in reducing the spread of harmful pathogens in various settings, such as hospitals, schools, and public spaces. Due to their effectiveness and safety standards, disinfectant efficacy testing is projected to witness significant growth.

Through Which Application Efficacy Testing is projected to Witness Significant Growth?

Through pharmaceutical manufacturing applications, the market is projected to witness significant growth with a CAGR of 10.2% from 2018 to 2022 and is expected to grow at a CAGR of 6.1% from 2023 to 2033.

The pharmaceutical industry is highly regulated, and there is a growing demand for quality assurance to ensure the safety and efficacy of drugs. Increasing demand for quality assurance, growing demand for personalized medicine, increasing prevalence of chronic diseases, and surging investment in R&D, are the key factors that are driving the market growth, making it the highest growth segment in the pharmaceutical industry.

Competitive Analysis :

Key players in the market are Charles River Laboratories, Wuxi App Tec, Eurofins Scientific, SGS, Intertek Group, Nelson Laboratories, Llc, Microbac Laboratories, Inc., Almac Group, North American Science Associates, LLC, ALS Limited, Pacific Biolabs, MSL Solution Providers, Accugen Laboratories, Inc. and Lucideon.

A few of the recent developments in the market are :

• In August 2021, Charles River Laboratories announced plans to invest US$ 46 million in a new facility in the city of Durham, North Carolina. The new facility is expected to provide expanded research and development services to the biopharmaceutical industry.
• In December 2020, WuXi AppTec completed the acquisition of Pharmapace, a California-based clinical research organization (CRO) specializing in clinical trial management services. The acquisition strengthened WuXi AppTec's capabilities in clinical development services and expanded its presence in the U.S. market.

Segmentation of the Efficacy Testing Market :

• By Service Type :

  • Antimicrobial/ Preservative Efficacy Testing
    • Traditional Testing Methods
    • Rapid Test Methods
  • Disinfectant Efficacy Testing
    • Surface Test Methods
    • Suspension Test Methods

• By Application :

  • Pharmaceutical Manufacturing Applications
  • Cosmetic and Personal Care Product Applications
  • Consumer Product Applications
  • Medical Device Applications

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa