Global Pyrogen Testing Market is expected to grow at a CAGR of 16.60% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Pyrogen Testing Market by Product (Kits and Reagents, Services, Instruments), Test Type, End-Users, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
As per the report, the global pyrogen testing market is expected to grow from USD 750.58 Million in 2017 to USD 2480.71 Million by 2025 at a CAGR of 16.60% during the forecast period from 2018-2025. North America is expected to dominate the market during the forecast period. Presence of presence of many large biotechnology and biopharmaceutical firms and highly developed healthcare & research infrastructure are boosting the growth in the region. Continuous support from the government and from several government bodies in form of funding is also boosting the growth of the market.
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Key players operating in the market are Associates of Cape Cod, Inc, Lonza Group, Charles River Laboratories, Inc., Ellab A/S, Merck Kgaa, WUXI Pharmatech (Cayman) Inc., Wako Chemicals, Thermo Fisher Scientific, Inc., Hyglos GmbH, Genscript, Thermo Fisher Scientific, Sigma-Aldrich Corporation, Sanquin and others. Major firms are incorporating various strategies to increase their market reach. For instance, in January 2018, Bell Biosystems presented result of latest pre-clinical safety of intravascularly injected stem cells labeled for MRI tracking using a high dose of Bell’s Magnelle(R) brand MRI contrast agent.
The product segment is divided into kits and reagents, services, and instruments. Kits and reagents segment is expected to dominate and was valued around USD 330.27 million in 2017. Rising prevalence of chronic diseases facilitating the production of pharmaceuticals, biologics, and medical devices products. Therefore, increasing production of these products propelling the growth of the market. The test type segment is classified into in vitro pyrogen test, LAL test and rabbit test. LAL tests segment is showcasing fastest growth and held market share in 2017. Rising demand for animal-free detection tests and its high reliability and reproducibility are major factors contributing to the growth of the market. End user segment is categorised into pharmaceuticals and biologicals manufacturing, medical devices manufacturing, and other applications. The pharmaceutical and biotechnology companies dominated the market and expected to attain the highest CAGR in the forecast period. Increasing production of pharmaceutical and other biologic products increasing need of pyrogen testing consumables and instruments.
Rapidly growing pharmaceutical and biotechnology industries and growing prevalence of chronic diseases are boosting demand of market in forecast period. In addition, the pyrogen testing has been found to be highly effective in case of airborne diseases, which is also boosting the growth of the market. The stringent regulatory norms in the pharmaceutical industry are restraining the growth of the market. However, research and development in the life science industry are propelling the growth of the market in forecast period.
About the report:
The global pyrogen testing market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire