ALBANY, New York, November 30, 2016 /PRNewswire/ --
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%.
Inquire for Exclusive PDF Brochure of Research Report:
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.
Get Discounts on Report Purchase:
This review is based on Transparency Market Research's report, titled "Pyrogen Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
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
Browse Related Research Report:
Testing and Analysis Services Market: (By Sample Type: Water, Soil/Sediment, Clay Mineral, Metal Alloy, Biological Sample, Food, Chemicals, Corrosion, Oil and Gas, and Minerals and Ores; By Analysis Type: Elemental, Organic, Isotopic, Particle Size, Mineralogical, Metallurgical, Petroleum and Petrochemical, Biomedical and Biopharmaceutical, and Others; By Industry: Food/Beverages, Pharma/Medical Device, Energy, Minerals, Chemicals and Other Commodities, Environment and Metal and Alloy - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023: http://www.transparencymarketresearch.com/testing-analysis-services-market.html
Veterinary Therapeutics Market (Product Type - Drugs (Anti-invectives', Anti-inflammatory, Parasiticides), Vaccines (Inactivated Vaccines, Live Attenuated Vaccines, Recombinant Vaccines), Medicated Feed Additives (Amino Acids, Antibiotics); Animal Type - Companion Animals, Livestock Animals; Route of Administration - Oral, Parenteral, Topical; Distribution Channel - Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024: http://www.transparencymarketresearch.com/veterinary-therapeutics-market.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
SOURCE Transparency Market Research