Pyrogen Testing Market (Test Type - Recombinant Factor C Assay (rFC), Monocyte Activation Test (MAT), Limulus Amoebocyte Lysate (LAL) Test, Rabbit Pyrogen Test (RPT); Component - Instruments, Kits, and Reagents; End User - Pharmaceutical Companies, Biotechnology Companies, Medical Device Companies, and Food & Beverage Companies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 12/07/2016 -- According to the report, the global Pyrogen Testing Market was valued at US$ 570.0 Mn in 2015 and is projected to expand at a CAGR of 11.9% from 2016 to 2024 to reach US$ 1,527.8 Mn in 2024. This report offers a thorough understanding of the global pyrogen testing market, its key market trends, drivers, restraints, opportunities, and threats.
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Pyrogens are substances that lead to increase in body temperature after injection. Globally increasing health care awareness, growing number of pharmaceutical and biotechnology companies and shifting focus of population towards treatment of chronic and lifestyle diseases is driving growth of pyrogen testing market. Increasing focus of key companies on expanding their presence in Asian countries to meet growing 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 formulations to perform pyrogen test as a safety measurement and increasing government initiatives for healthcare awareness in the region also supporting growth of the pyrogen testing market.
The demand for pyrogen testing is currently not limited to the pharmaceutical companies and biological companies but is expanding among other end users such as medical device companies, food & beverage companies, etc. The report provides an elaborative analysis of the factors which are and will be driving the growth of the industry. These factors include increase in public and regulatory concerns about product safety, introduction of pyrogen test in different applications, companies strengthening their product pipelines & rise in drug approvals by regulatory authorities and consistent growth in pharmaceutical and biotechnology industries.
Limulus amoebocyte lysate (LAL) test was the major test type segment of the pyrogen testing market, accounting for 60.0% share in terms of revenue in 2015. Limulus amoebocyte lysate (LAL) test segment contributed for the largest share of the pyrogen testing market. This segment is anticipated to cover 62.6% share of the pyrogen testing market by 2024. The other test type segments analyzed in this report are recombinant factor C assay (rFC), monocyte activation test (MAT) and rabbit pyrogen test (RPT). Amongst which monocyte activation test (MAT) and rabbit pyrogen test (RPT) collectively account for 35.7% share in 2015 and rabbit pyrogen test estimated to be on the continued at the second position in the pyrogen testing market. The pyrogen testing market has also been segmented by components into instruments kits and reagents. Reagents segment holds the largest market share of 44.8% in the year 2015 in pyrogen testing market.
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The biotechnology companies segment among end users is expected to grow at a fast pace owing to development of biotechnology industry and increasing approval of biological products. The end-user segment of pyrogen testing has been further categorized into pharmaceutical companies, biotechnology companies, medical device companies, food & beverage companies and others. Pharmaceutical companies emerged as the segment leader in terms of revenue in 2015, attributed to the increasing product pipeline and increased use of pharmaceutical products. The pharmaceutical companies segment is expected to account for 33.2% market share in 2024 of global pyrogen testing market, followed by biotechnology companies which is projected to cover about 23.9% share of the market by the end of 2024.
Key players profiled in global pyrogen testing market report include Charles River Laboratories International, Inc., Hyglos GmBH, Lonza Group, Merck KGaA., Associates of Cape Cod, Inc., Genscript, Wako Chemicals, Sanquin and others. Many of these players are focusing on animal-free pyrogen testing which may help replacing rabbit pyrogen testing during forecast period.
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