Pyrogen Testing Market Expected to Grow at US$ 1,700.0 Million in Revenue by 2026 Illuminated by New Report
The global pyrogen testing market is expanding due to increasing implementation of stringent regulations for manufacturing of pharmaceutical and medical device products, rising number of pharmaceutical and biotechnology companies, and shifting focus of population toward treatment of chronic and lifestyle diseases. The global pyrogen testing market was valued more than US$ 650.0 Mn in 2017. It is projected to surpass a value of US$ 1,700.0 Mn by 2026, expanding at a cumulative annual growth rate (CAGR) of more than 11.0% from 2018 to 2026.
The pyrogen testing market in Asia pacific is expanding at a significant pace due to adoption of LAL test in emerging economies, such as China and India, continuous development of innovative products on pyrogen testing by major and emerging players, and rise in importance of conventional research for protection of vital biomolecules and therapeutics.
Pyrogen are substances that cause fever, post administration of an injection. Occurrence of body ache and increase in body temperature are prominent reactions caused due to injection of harmful pyrogen into the body. Pyrogen testing determines the presence of endotoxin substances.
Request for Sample Copy of Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=54678
Key factors that are projected to drive the market during the forecast period include an increase in public and regulatory concerns about product safety, introduction of pyrogen test in different applications, and surge in new innovative drugs and launch of biological products. Increasing focus of key companies on expanding their presence in countries in Asia, in order to cater to the rising demand, is a trend observed in the market. Furthermore, regulations by different regulatory authorities, such as the USFDA, are making it compulsory for every parenteral formulation to perform pyrogen test as a safety measurement and rising government awareness initiatives for healthcare treatment in the region are also boosting the pyrogen testing market.
The global pyrogen testing market has been segmented based on test type, component, end-user, and region. In terms of test type, the global market has been categorized into monocyte activation test (MAT), limulus amoebocyte lysate (LAL) test, rabbit pyrogen test (RPT), and others. The LAL test segment accounted for a key share (in terms of revenue) of the global market in 2017. The MAT test segment is estimated to expand at a rapid pace during the forecast period. It is estimated to gain market share, significantly, by the end of 2026. MAT test offers advantages such as reduced usage of animals for drug testing, which is a major concern raised by PETA.
However, MAT test detects pyrogens that cannot be detected by LAL test, making it a more efficient and comprehensive test, which is likely to maintain its high growth rate and gain marginal market share during the forecast period. In terms of component, the global market has been categorized into instruments, kits, and reagents. The reagents segment is estimated to hold a major share of the market due to regular usage of reagents for pyrogen testing. In terms of end-user, the global market has been categorized into pharmaceutical companies, biotechnology companies, medical device companies, and others.
Request Report Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=54678
In terms of end-user, the pharmaceutical companies segment held a prominent share of the market. The pharmaceutical industry is expanding at a rapid pace, owing to rising importance of these companies not only in the field of conventional research, but also in the development and production of vital biomolecules and therapeutics. Moreover, the biotechnology companies segment is expected to expand at a rapid pace owing to expansion of the biotechnology industry and increasing approval of biological products.
Discovery and launch of new products is fueling pharmaceutical companies and biotechnology companies segments. This, in turn, is projected to boost the global pyrogen testing market during the forecast period. The food industry segment is expected to expand at a moderate pace during the forecast period, due to an increased demand for nutrient-added food products in developed countries of Europe and North America. These factors are expected to boost the pyrogen testing market during the forecast period.
Based on region, the global pyrogen testing market has been divided into major five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe accounted for a notable share of the global pyrogen testing market, followed by Asia Pacific, Latin America, and Middle East & Africa.
The U.S. dominated the pyrogen testing market in North America. The factor that drives the pyrogen testing market in the region includes well-established rules and regulations for pharmaceutical manufacturing processes in the U.S. and rapidly increasing penetration of monocyte activation tests in the country. Europe follows North America in terms of share of the global pyrogen testing market. Germany held a major share of the pyrogen testing market, in terms of revenue, in Europe.
The pyrogen testing market in Asia Pacific is expanding rapidly, driven primarily by expansion of the market in developing countries in the region. Increase in focus of key players to expand their presence in the region, large untapped population, and rise in awareness regarding health care are projected to propel the pyrogen testing market in Asia Pacific. However, low penetration of healthcare facilities and lack of availability for advanced pyrogen testing products are key factors restraining the pyrogen testing market in developing and undeveloped regions, such as Latin America and Middle East & Africa.
Companies such as Thermo Fisher Scientific, Inc., Merck KGaA, Charles River Laboratories International, Inc., GenScript, Lonza Group, Sanquin, and WuXi AppTec, were major players operating in the global pyrogen testing market in 2017. Thermo Fisher Scientific, Inc. emphasizes on acquisition of related companies in the industry in order to strengthen customer offerings and strategic position in the highly competitive environment. For instance, in 2017, the company invested around US$ 7.8 Bn for acquisitions.
In April 2016, the company entered into a partnership with Siemens in order to offer a new type of molecular testing. The new product is likely to be integrated with Thermo Fisher Scientific’s real-time PCR system and Siemens’ VERSANT kPCR molecular solution. Other global players operating in the market include Associates of Cape Cod, Inc., Hyglos GmbH – a bioMérieux Company, and Wako Chemicals USA, Inc. Market players are adopting the strategy of acquisitions and collaborations with parallel companies in order to improve and strengthen their geographic presence in the global market.
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453