Pyrogen Testing Market Will Touch USD 2,284.2 Million in 2030 |
Posted: April 18, 2024 |
The pyrogen testing market was USD 1,406.4 million in 2023, and it will rise to USD 2,284.2 million, with a 7.3% CAGR, by 2030. This is because of the increasing acceptance of pyrogen testing in the biopharmaceutical sector. In addition, the increasing development in the biotechnology and pharmaceutical industries and the growing count of new biologics research and introductionwill drive the need for such testing for producing effective and safe medicines. Furthermore, the increasing fondness for tailored medicine across the populace, the rising R&D initiatives in the biopharmaceutical sector, the surging occurrence of chronic and communicable illnessesworldwide, and the growing consciousness among people regarding food safety and hygiene, are also helping the industry expansion. Additionally, surged cases of COVID-19 globally and the existence of regulatory rules for directing such testing for medicine developments are further driving the industry. The instruments category will advance at the fastest rate in the coming years. This is because of the various benefitsprovided by these instruments, includingsignificantly enhancing testing effectiveness by improvingprecision and reducing errors, in contrast to manual testing, where samples get mixed up & end up instigating dangerous and costly accidents. The assays, kits, and reagents category, based on product,led the pyrogen testing market in 2023, with a 50% share, and it will remain leading in the years to come. This can be because of the risingpreference for kit-based testing methods and the swiftlyincreasing needfor reagents, kits, and assays in conducting pyrogen tests in large numbers. The pharmaceutical and biotechnology companies category, based on end user,was the largest contributor to the industry in 2023, with a 35% share. Moreover, this category will remain the largest throughout this decade. This can be because of the increasing manufacturing of novel medicine, biologics, pharmaceuticals, and various other products, thus driving the demand for pyrogen testing. North America accounted for the largest share of the industry in 2023, of 55%. This can be because of the continuingimprovements in the fields of pharmaceutical as well as biotechnology, and the increasing expenses on biopharmaceutical and pharmaceutical research and development by major players in this continent. APAC is likely to advance at the fastest compound annual growth rate in the years to come. This will be mainly because of the increasing development of healthcare infrastructure, the growing incidence of targeted illnesses, the mounting elderly population, and the rising novel research activities, in this region. It is because of the surge in the adoption of pyrogen testing in the biopharmaceutical sector, the pyrogen testing industry will continuously advance in the coming years.
SOURCE: P&S Intelligence
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