Global Pyrogen Testing Market: Snapshot
The global pyrogen testing market has been witnessing a rapid growth rate in recent years as the pharmaceutical, medical devices, and biotechnology industries are undergoing a huge change. The growing support from governments to launch new drugs to fight several new diseases has augmented the demand for pyrogen testing in the past few decades. Pyrogens are known to cause fever and body ache after being injected. This testing method helps in identifying the presence of endotoxin substances and is being extensively used in the development of new drugs. According to the research report, the global pyrogen testing market is expected to be worth US$1,527.8 mn by the end of 2024 as compared to US$570.0 mn in 2015. During the forecast period of 2016 and 2024, the global market is expected to surge at a CAGR of 11.9%.
Investments in Biotechnology and Pharmaceutical Industries Offer Immeasurable Scope for Growth
The emergence of several biotechnology and pharmaceutical companies across the globe is the primary reason for the growth of the global pyrogen testing market. The growing investments in the development of new drugs to improve healthcare is expected to propel the demand for pyrogen testing. Analysts anticipate that the introduction of innovative drugs and launch of biological products with the rise of chronic diseases and favorable government initiatives will support the growth of the global market. The market is also expected to benefit from the rising awareness about chronic conditions, growing expenditure on healthcare, and favorable reimbursement policies.
Despite the steady market drivers, the global market is expected to be restrained by the ongoing efforts to ban on animal tests. The increasing pressure to stop the usage of rabbits for pyrogen testing is likely to be the key restraining factor in the global market. However, the market could stand to profit from the growing medical tourism across Latin America and Asia Pacific. Furthermore, the emergence of the healthcare industry in emerging economies is anticipated to have a positive impact on the overall market during the forecast period.
North America Poised to Dominate Global Market as Healthcare Garners High Interest in the Region
In terms of geography, the global pyrogen testing market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. In 2015, North America held a dominant share of 38.6% in the global pyrogen testing market. This lion’s share was attributable to the strong presence of key players in the region, who are making big investments in research and development. The report projects that the North America market will continue to thrive as healthcare awareness is on the upswing in the region. During the forecast period, the North America pyrogen testing market is expected to expand at a CAGR of 11.6%. The limulus amebocyte lysate test (LAL) test type segment will be popular over others all across North America as it has been until 2015.
The emerging economies of Asia Pacific such as India, China, and Japan are likely to give the overall market a much-needed impetus as well. Owing to this reason, the Asia Pacific pyrogen testing market is likely to expand at a CAGR of 14.3% during the forecast period.
The key players operating in the global pyrogen testing market are Thermo Fisher Scientific, Inc., Genscript, Hyglos Gmbh, Lonza Group, Associates of Cape Cod, Inc., Wako Chemicals USA, Inc., Sanquin and Charles River Laboratories International, Inc., and Merck & Co., Inc.
Global Pyrogen Testing Market: Overview
This report on the global pyrogen testing market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2014 to 2024, considering the macro and micro environmental factors. Growth rates for each segment within the global pyrogen testing market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
Global Pyrogen Testing Market: Scope
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global pyrogen testing market.
Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all the segments, considering 2015 as the base year. Market size estimations involved in-depth study of services and product features. Additionally, market related factors such as increasing preference for technologically advanced services, product innovation, and growing number of acute and chronic diseases in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
Global Pyrogen Testing Market: Segmentation
Based on product type, the global pyrogen testing market has been segmented into recombinant factor C assay (rFC), monocyte activation test (MAT), limulus amoebocyte lysate (LAL) test and rabbit pyrogen test (RPT). Based on component, the market has been segmented into instruments, kits & reagents. Based on end users, the market has been segmented into pharmaceutical companies, biotechnology companies, medical device companies, food & beverage companies and others.
Geographically, the global pyrogen testing market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region. These include the U.S., Canada, the U.K., Germany, France, Italy, Spain, China, Japan, India, Australia, New Zealand, South Africa, Saudi Arabia, Brazil, and Mexico.
Key Players Operating in the Report are:
The report also profiles major players in the pyrogen testing market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key players profiled in this market report include Charles River Laboratories International, Inc., Hyglos GmBH, Lonza Group, Merck KGaA., Associates of Cape Cod, Inc., Genscript, Wako Chemicals, Sanquin.
The global pyrogen testing market has been segmented as follows:
Global Pyrogen Testing Market, by Test Type
- Recombinant Factor C Assay (rFC)
- Monocyte Activation Test (MAT)
- Limulus Amoebocyte Lysate (LAL) Test
- Rabbit Pyrogen Test (RPT)
Global Pyrogen Testing Market, by Component
Global Pyrogen Testing Market, by End-user
- Pharmaceutical Companies
- Biotechnology Companies
- Medical Device Companies
- Food & Beverage Companies
Global Pyrogen testing Market, by Geography
- 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