With continual entry of new participants, the business landscape of the global pyrogen testing market has emerged as fragmented and highly competitive, notes a new study by Transparency Market Research (TMR). The competitiveness of this market is likely to remain high with the increasing entry-rate of new players over the next few years. Some of the leading players in this market are Thermo Fisher Scientific, Inc., Hyglos Gmbh, Genscript, Sanquin, Lonza Group, Wako Chemicals USA, Inc., Associates of Cape Cod, Inc., and Charles River Laboratories International, Inc., and Merck & Co., Inc., states the research report.
As per the estimations of TMR analysts, the overall valuation of the global market for pyrogen testing is likely to rise at an exceptional CAGR of 11.90% over the period of 2016–2024, with its opportunity increasing from US$570 mn n 2015 end to US$1.52 bn by the end of the period of forecast. Limulus amoebocyte lysate (LAL) has emerged as the most demanded test type of pyrogen testing across the world. Researchers expect this trend to remain so over the forthcoming years, expanding at a CAGR of 12.60% over the forecast period.
Geographically, the worldwide market for pyrogen testing is spread across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among these, North America has emerged as the leading contributor to the global market. Expanding at a CAGR of 11.60% over the period from 2016 to 2024, the market for pyrogen testing in North America is anticipated to continue on the top spot in the near future.
Presence of Robust Product pipelines to Boost Market’s Growth
“The increasing prevalence of chronic diseases and conditions among people across the world is boosting the global market for pyrogen testing significantly,” says a TMR analyst. The rising demand for biological drugs is also propelling this market substantially. In addition to this, the presence of robust pipelines and impending approvals of new drugs are likely to support the worldwide market in recording smooth rise in the coming few years. The advent of biotechnology and the increasing number of pharmaceutical companies, together with their escalating investments in the research and development of innovative therapeutics, are also expected to drive this market over the next few years, reports the market study.
Constant Call for Ban on Testing on Animals to Hamper Market
O the other hand, the continual efforts to ban the utilization of animals for testing is likely to hamper the global pyrogen testing market over the forthcoming years. Apart from this, the challenging nature of monocyte activation test (MAT), which needs fresh human blood for testing, is also projected to create obstructions in the steady growth of this market in the years to come, states the research report.
The review is based on a report by Transparency Market Research, titled “Pyrogen Testing Market (Test Type - Recombinant Factor C Assay (rFC), Monocyte Activation Test (MAT), Limulus Amoebocyte Lysate (LAL) Test, Rabbit Pyrogen Test (RPT); Component - Instruments, Kits, and Reagents; End User - Pharmaceutical Companies, Biotechnology Companies, Medical Device Companies, and Food & Beverage Companies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global Pyrogen testing market to be segmented into:
By Test Type
- Recombinant Factor C Assay (rFC)
- Monocyte Activation Test (MAT)
- Limulus Amoebocyte Lysate (LAL) Test
- Rabbit Pyrogen Test (RPT)
By End User
- Pharmaceutical Companies
- Biotechnology Companies
- Medical Device Companies
- Food & Beverage Companies
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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