Pyrogen Testing Market to Surpass Valuation of USD 4.10 Billion by 2031 | SkyQuest Technology
Westford, USA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global pyrogen testing market size will reach a value of USD 4.10 Billion by 2031, with a CAGR of 13.4% during the forecast period (2024-2031). Growing demand for pyrogen testing products in the biotechnology and pharmaceutical industries is one of the key factors driving the expansion of the market. The global pyrogen testing market products is anticipated to increase due to the rapidly expanding pharmaceutical and biotechnology sectors as well as the growing number of innovative treatments being introduced. One of the key elements driving the market's expansion is the government's and manufacturing enterprises' growing expenditure in R&D for product development.
Browse in-depth TOC on the " Pyrogen Testing Market"
Pages – 176
Tables – 93
Figures – 71
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Pyrogen Testing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 1.49 Billion |
| Estimated Value by 2031 | USD 4.10 Billion |
| Growth Rate | Poised to grow at a CAGR of 13.4% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Test Type, End-Use, and End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | High-throughput screening and automation |
| Key Market Opportunities | Growth of biopharmaceutical industry |
| Key Market Drivers | Growing biologics and drug development |
Consumables Product to Hold Significant Growth due to its Essential Role in Ensuring Product Safety
Consumables dominate the global pyrogen testing market due to their essential role in ensuring product safety and compliance with regulatory standards. The increasing need for biopharmaceuticals and medical devices propels the need for efficient testing solutions and therefore, consumables such as test kits and reagents are essential. Moreover, their regular usage, affordability and easy incorporation within the testing procedures makes the test kits enhancing their relevance in the global pyrogen testing market outlook.
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Pharmaceutical and Biotechnology Companies to Lead Market due to Increasing Need for Medical Products Safety
Pharmaceutical and biotechnology companies lead the global pyrogen testing market due to the increasing need for ensuring the safety of biologics and medical products. The rigorous regulatory frameworks for the approval of products considerably increase the need for accurate pyrogen testing, and consequently these companies are investing in more advanced testing methods to comply with safety regulations, thus further strengthening their position in the global pyrogen testing market outlook for the future development.
North America to Dominate Market due to Strong Healthcare Infrastructure & Strict Regulatory Frameworks
North America dominates the global pyrogen testing market due to its strong healthcare infrastructure, strict regulatory frameworks, and a high concentration of pharmaceutical and biotechnology companies. The region’s emphasis on the safety of drugs and medical devices and the high level of investment in research and development, contributes to the need for sophisticated pyrogen testing solutions, thus supporting its dominance in the global pyrogen testing market share.
Pyrogen Testing Market Insight
Drivers:
- Growth in the Biopharmaceutical and Medical Device Industries
- High Costs of Pyrogen Testing
- Global Increase in Infectious Diseases
Restraints:
- Time-Consuming Nature of Regulatory Approvals
- High Costs of Pyrogen Testing
- Interpreting Pyrogen Tests is a Challenge
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Prominent Players in Pyrogen Testing Market
- Merck KGaA
- GenScript
- Hyglos GmbH
- Ellab A/S
- Lonza
- Thermo Fisher Scientific, Inc.
- Charles River Laboratories, Inc.
- Associates of Cape Cod, Inc.
- Pyrostar
- Abbott Laboratories
- AstraZeneca
- Heraeus Medical
- Wako Pure Chemical Industries
- Roche Diagnostics
- Biosafe Technologies
- BIOMÉRIEUX SA
- GENSCRIPT BIOTECH CORPORATION
- EUROFINS SCIENTIFIC
- WUXI APPTEC
- STERIS PLC
Key Questions Answered in Global Pyrogen Testing Market Report
- What is the projected value of the global pyrogen testing industry by 2031?
- What factors are driving the expansion of the market?
- Why is North America expected to dominate the market?
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This report provides the following insights:
Analysis of key drivers (Rising number of CROs handling drug safety testing, growing preference for in vitro testing methods, development of healthcare infrastructure globally), restraints (Reliance on traditional methods, lack of universally accepted standardized testing) opportunities (Growing healthcare investments, innovations in recombinant DNA technology).
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the pyrogen testing market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the pyrogen testing market.
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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