Pyrogen Testing Market to Reach $3.3 Billion Globally, By 2032 at 8.2% CAGR: Allied Market Research
Increase in prevalence of chronic diseases, growing initiatives for minimizing pyrogen contamination, and rise in R&D activities drive the growth of the global pyrogen testing market.
Wilmington, New Castle, Delaware, Feb. 22, 2024 (GLOBE NEWSWIRE) --
Allied Market Research published a report, titled,* *“*Pyrogen Testing Market* by Product and Service (Reagents & Kits, Instruments, and Services), Test Type (LAL Test, Rabbit Pyrogen Test, and Others), and End User, (Pharmaceutical & Biotechnology Companies, Medical Device Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global pyrogen testing industry generated $1.5 billion in 2022, and is anticipated to generate $3.3 billion by 2032, witnessing a CAGR of 8.2% from 2023 to 2032.
*Prime Determinants **o**f Growth*
Rise in prevalence of chronic diseases, growing initiatives for minimizing pyrogen contamination, and rise in R&D activities are the factors that drive the growth of the global pyrogen testing market. However, the limited standardization for pyrogen testing restricts market growth. Moreover, the high growth potential in emerging countries and rise in technological advancements in pyrogen testing presents new opportunities in the coming years.
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*Report Coverage & Details:* *Report Coverage* *Details*
Forecast Period 2023–2032
Base Year 2022
Market Size In 2022 $1.5 Billion
Market Size In 2032 $3.3 Billion
CAGR 8.20%
No. Of Pages in Report 286
Segments Covered Product & Service, Test Type, End User, And Region
Drivers Rise In Prevalence of Chronic Diseases
Growing Initiatives for Minimizing Pyrogen Contamination
Rise In R&D Activities
Opportunities High Growth Potential in Emerging Countries
Rise In Technological Advancements in Pyrogen Testing
Restraints Limited Standardization for Pyrogen Testing
*Recession Impact*
· During a recession, individuals and governments might tighten their budgets, leading to reduced healthcare spending. This could affect patients’ ability to access and afford pyrogen testing, potentially leading to decreased demand for pyrogen testing products.
· However, the surge in prevalence of chronic diseases, rise in technological advancements and growing awareness about pyrogen contamination risks. This could boost the need for pyrogen testing that is experiencing a moderately positive impact from the global recession.
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*The reagents and kits segment to **maintain** its leadership status throughout the forecast period*
By product and service, the reagents and kits segment held the largest market share in 2022, accounting for nearly half of the global pyrogen testing market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to high adoption of regents & kits as they are serving as critical tools in detecting and quantifying pyrogens in pharmaceutical and biotechnology products.
However, the instruments segment is expected to register the highest CAGR of 8.9% during the forecast period. This is attributed to the continuous innovation in instrument design and functionality which enhances their efficiency and accuracy in detecting and quantifying pyrogens, making them attractive to companies seeking advanced testing methods.
*The LAL test segment to **maintain** its leadership status throughout the forecast period*
By test type, the LAL test segment held the largest market share in 2022, accounting for more than half of the global pyrogen testing market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to technological advancements in LAL testing methodologies, including the development of kinetic turbidimetric and chromogenic assays, have enhanced the efficiency and accuracy of pyrogen detection.
However, the others segment is expected to register the highest CAGR of 8.6% during the forecast period. This is attributed to surge in demand for monocyte activation tests which provide a direct assessment of the human immune response to pyrogens and offering specificity that aligns closely with human physiology.
*The pharmaceutical and biotechnology **companies** segment to **maintain** its lead position during the forecast period*
By end user, the pharmaceutical and biotechnology companies segment accounted for the largest share in 2022, contributing to more than half of the global pyrogen testing market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to the growth of the biopharmaceutical sector, which includes the development of complex drugs such as monoclonal antibodies, vaccines, and cell therapies led to rise in demand for advanced and precise pyrogen testing methodologies.
However, the medical device companies segment is expected to register the highest CAGR of 9.1% during the forecast period. This is attributed to the surge in the development of sophisticated and complex medical devices, ranging from diagnostic equipment to implantable devices. The intricate nature of these devices necessitates stringent quality control measures, including pyrogen testing, contributing to the segment growth.
*North America to **maintain** its dominance by 2032*
By region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global pyrogen testing market revenue and is likely to dominate the market during the forecast period. This is attributed to its well-developed healthcare infrastructure, technological advancements in testing methodologies, pharmaceutical innovation and research and development activities have led to an increased demand for pyrogen testing.
However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.4% from 2023 to 2032. This is attributed to expanding pharmaceutical and biotechnology sectors, the rise of contract manufacturing & research activities, and increased healthcare investments.
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*Leading Market Players: *
· Merck KGaA
· Lonza Group
· Thermo Fisher Scientific Inc.
· FUJIFILM Holdings Corporation
· GenScript
· SEIKAGAKU CORPORATION
· Charles River Laboratories
· STERIS
· WuXi AppTec
· Eurofins Scientific
The report provides a detailed analysis of these key players in the global pyrogen testing market. These players have adopted strategy such as product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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