Pyrogen Testing Market To Surpass Valuation Of USD 4.10 Billion By 2031 | Skyquest Technology

2024-11-19 08:15:47

(MENAFN- GlobeNewsWire - Nasdaq) The pyrogen testing market is projected to witness significant growth over the forthcoming years owing to the growing digitalization and automation in testing processes and the expansion of biologics and biopharmaceuticals.

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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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia-Pacific.

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