Press release
Pyrogen Testing Market is estimated to reach US$ 1,372.1 Million in terms of revenue by 2024 end.
The market for pyrogen testing is also being driven by the recent developments in biotechnology and pharmaceutical industry. Various types of test are being used by companies for testing the level of pyrogen. Companies are also investing in the research and development activities and quality assurance to ensure producing quality drugs. Technological advancement and initiative by governments of different countries for controlling the increasing prevalence of various diseases are also resulting in the growth of pyrogen testing. Most widely known pyrogens are Lipopolysaccharides, which are considered as cell wall components of gram-negative bacteria. Well-established research and development facility and government support are also resulting in the development of advanced medical devices and novel drugs.
As per the report by Persistence Market Research (PMR), the global market for pyrogen testing is likely to witness robust growth during the forecast period 2017-2024. Towards the end of 2024, the global pyrogen testing market is projected to exceed US$ 1,000 Million revenue.
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Pyrogen Testing to Find Largest Application in Medical Devices
Based on the application, pyrogen testing is expected to find the largest application in medical devices in the global pyrogen testing market. By the end of 2024, medical devices are estimated to bring in more than US$ 200 Million revenue.
On the basis of test type, Limulus Amebocyte Lysate (LAL) is likely to witness the highest growth during 2017-2024. LAL test type is projected to surpass US$ 800 million revenue by 2024 end.
In terms of the end user, the pharmaceutical industry is expected to emerge as the largest user of pyrogen testing in the global market for pyrogen testing. The pharmaceutical industry is estimated to reach close to US$ 500 Million revenue by the end of the forecast period.
North America to Remain Dominant in the Global Pyrogen Testing Market
Region-wise, North America is likely to lead the global market for pyrogen testing throughout the forecast period. North America is projected to bring in more than US$ 500 Million revenue by 2024 end. Discovery and development of new drugs, rise in a number of biologic products, and increasing investment by government in healthcare and pharmaceutical industry are some of the factors driving the growth of the pyrogen testing market in the region. However, stringent regulations and approval policies are likely to restrict the growth of the market in North America.
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