Growing Demand for Biological Drugs is Projected to Boost the Pyrogen Testing Market
Pyrogen Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
The global pyrogen testing market is exceptionally consolidated as a few players hold a dominant share in the overall market. The leading players, Thermofisher, Lonza Group, Charles River Laboratories International, Inc., and Merck KGaA, held a lion’s share of 51% in the global market in 2015. Transparency Market Research observes that these companies are expected to retain their leadership as they are focused on development products that are do not require rabbit pyrogen testing along with strategic mergers and acquisitions.
The players are determined to retain their presence in the global competition and contribute significantly to soaring revenues through the forecast period. According to the research report by Transparency Market Research, the opportunity in 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%.
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North America to Show High Adoption of Pyrogen Testing between 2016 and 2024
Of all the geographical segments in the global market, North America is anticipated to show an incredible CAGR of 11.6% during the forecast period. This growth is being fueled by the majority of pharmaceutical investing in the region due to favorable support from the governments. Amongst the types of tests, the limulus amoebocyte lysate (LAL) test is expected to lead the market as it is poised to surge at a CAGR of 12.6% during the forecast period.
Prevalence of Chronic Conditions Urges Pharmaceutical Companies to Develop New Drugs
The high prevalence of diseases and conditions that require innovative drugs for treatment has triggered a huge demand for pyrogen testing in recent years. The growing demand for biological drugs is also projected to boost the market. The robust pipelines and approvals of new drugs are also expected to help the global market grow in the coming few years. The emergence of biotechnology and pharmaceutical companies and their rising investments in research and development of innovative therapeutics have also played a crucial part in the rise of the global pyrogen testing market in the recent years. “The growing number of clinical researches to treat the hazardous evolution of infectious diseases and diseases pertaining to unhealthy lifestyle changes has pressurized the pharmaceutical industry to develop enhanced drugs,” states the lead author of this research report. As the epidemics and outbreaks continue, they are likely to provide an impetus to the global market during the forecast period.
The various types of tests available in the global market are recombinant factor C assay (rFC), monocyte activation test (MAT), limulus amoebocyte lysate (LAL) test, and rabbit pyrogen test (RPT). Of these, the limulus amoebocyte lysate (LAL) test is being extensively adopted by several drug manufacturing and development companies. Analysts anticipate that LAL will retain its dominance in the global market as it offers the best quality control. Thus, this testing method is being used for detecting the minute quantity of bacterial toxins or pyrogen in medical devices, pharmaceuticals, and other areas.
Ban on Animal Testing Shadows Growth of Global Market
The ardent efforts to ban the usage of animals for testing is the biggest restraint in the global pyrogen testing market. For instance, growing hue and cry over usage of rabbits for pyrogen testing has raised questions and thus is expected to hamper the testing possibilities in the coming years. The global market is also being hampered due to the demanding nature of monocyte activation test (MAT). This testing method requires fresh human blood, which poses as a logistics challenge and adds to the already expensive nature of testing.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services.
Nov 29, 2016