Global Pyrogen Testing Market: High Number of Players to Fragment Competitive Landscape, Says TMR
Albany, NY -- (SBWIRE) -- 05/16/2018 -- As per the estimations of TMR analysts, the overall valuation of the global market for pyrogen testing is likely to rise at an exceptional CAGR of 11.90% over the period of 2016–2024, with its opportunity increasing from US$570 mn n 2015 end to US$1.52 bn by the end of the period of forecast. Limulus amoebocyte lysate (LAL) has emerged as the most demanded test type of pyrogen testing across the world. Researchers expect this trend to remain so over the forthcoming years, expanding at a CAGR of 12.60% over the forecast period.
Geographically, the worldwide market for pyrogen testing is spread across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among these, North America has emerged as the leading contributor to the global market. Expanding at a CAGR of 11.60% over the period from 2016 to 2024, the market for pyrogen testing in North America is anticipated to continue on the top spot in the near future.
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Presence of Robust Product pipelines to Boost Market's Growth
"The increasing prevalence of chronic diseases and conditions among people across the world is boosting the global market for pyrogen testing significantly," says a TMR analyst. The rising demand for biological drugs is also propelling this market substantially. In addition to this, the presence of robust pipelines and impending approvals of new drugs are likely to support the worldwide market in recording smooth rise in the coming few years. The advent of biotechnology and the increasing number of pharmaceutical companies, together with their escalating investments in the research and development of innovative therapeutics, are also expected to drive this market over the next few years, reports the market study.
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Constant Call for Ban on Testing on Animals to Hamper Market
O the other hand, the continual efforts to ban the utilization of animals for testing is likely to hamper the global pyrogen testing market over the forthcoming years. Apart from this, the challenging nature of monocyte activation test (MAT), which needs fresh human blood for testing, is also projected to create obstructions in the steady growth of this market in the years to come, states the research report.
With continual entry of new participants, the business landscape of the global pyrogen testing market has emerged as fragmented and highly competitive, notes a new study by Transparency Market Research (TMR). The competitiveness of this market is likely to remain high with the increasing entry-rate of new players over the next few years. Some of the leading players in this market are Thermo Fisher Scientific, Inc., Hyglos Gmbh, Genscript, Sanquin, Lonza Group, Wako Chemicals USA, Inc., Associates of Cape Cod, Inc., and Charles River Laboratories International, Inc., and Merck & Co., Inc., states the research report.
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About Transparency Market Research
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.
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