Kenneth Research recently added a report on ‘Pyrogen Testing Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Pyrogen Testing Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pyrogen Testing Market products.
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The global Pyrogen Testingmarket was valued at USD 610.09 million in 2016 and is projected to reach USD 1705.47millionby 2025, growing at a CAGR of 12.1% from 2017 to 2025.
A pyrogen is a foreign substance that causes a fever (temperature elevation) in an animal’s body. Typically, pyrogenic substances include endotoxin and other bacterial byproducts. Animal breeding is becoming a common practice with generation of demand for animal based products. The market for pyrogen testing is thus expected to expand at a high CAGR.
1. Market Drivers
1.1 Developments in Pharmaceutical and Biotechnology Industries
1.2 Increasing Drug Launches
1.3 Strong R&D Investments
1.4 Increasing Government Support
1.5 High Incidence and Large Economic Burden of Chronic Diseases
2. Market Restraints
2.1 High Degree of Consolidation to Act as A Major Barrier for New Entrants
1. By Application:
1.1 Pharmaceutical and Biological Manufacturing
1.2 Medical Device Manufacturing
1.3 Other Applications
2. By Product:
2.1 Kits and Reagents
3. By Test Type:
3.1 LAL Tests
3.1.1 Chromogenic Tests
3.1.2 Turbidimetric Tests
3.1.3 Gel Clot Tests
3.2 In Vitro Tests
3.3 Rabbit Tests
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Associates of Cape Cod, Inc.
2. Charles River Laboratories, Inc.
3. Lonza Group
4. Merck Kgaa
5. Ellab A/S
7. Hyglos GmbH
8. Thermo Fisher Scientific, Inc.
9. Wako Chemicals Usa, Inc.
10. WUXI Pharmatech (Cayman) Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Pyrogen Testingmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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