Global Pyrogen Testing Market Value is Expected to Reach US$ 1.37 Billion by 2024 - PMR
NEW YORK, November 9, 2016 /PRNewswire/ --
Global Pyrogen Testing Market to Register a CAGR of 11.0% Between 2016 and 2024: Increasing Number of Pharmaceutical and Biotechnology Companies Likely to Boost Market Revenue Growth
Persistence Market Research (PMR) delivers key insights on the global pyrogen testing market in its upcoming report titled, "Global Market Study on Pyrogen Testing: North America Estimated to Be the Dominant Regional Market" (http://www.persistencemarketresearch.com/market-research/pyrogen-testing-market.asp). The global pyrogen testing market was valued at US$ 538.8 Mn in 2015 and is estimated to be valued at US$ 594.4 Mn by 2016 end. The market is projected to expand at a CAGR of 11.0% during the forecast period in terms of value. Global pyrogen testing market value is expected to increase to US$ 1.37 billion by the end of 2024.
Pyrogens are substances that lead to increase in body temperature after their injection. Globally increasing health care awareness, growing number of pharmaceutical and biotechnology companies and shifting focus of population towards treatment of chronic and lifestyle diseases is driving the growth of global pyrogen testing market. Increasing focus of key companies on expanding their presence in Asian countries to meet growing demand is a trend observed in the market. Furthermore, increasing government initiatives for healthcare awareness in the region also support growth of the market.
This report assesses trends, that drive growth of each segment on the global as well as regional levels, and offers potential takeaways, that could prove substantially useful to the companies who wish to enter the pyrogen testing market. North America and Europe are expected to dominate the global pyrogen testing market with a maximum market share in 2016. North America and Europe collectively, are expected to account for more than 60% share of the total global pyrogen testing market in terms of value in 2016. Among emerging markets, Asia Pacific is estimated to exhibit the highest CAGR of 12% over the forecast period, due to increasing preference of key players to establish their presence in these regions.
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Some of the key players having presence in the global pyrogen testing market identified in the report include Charles River Laboratories International, Inc., Lonza Group, Ltd., Merck & Co., Associates of Cape Cod, Inc., Genscript, Wako Chemicals, and others. PMR has discussed individual strategies of these companies in terms of increasing focus of the companies on advancements, initiatives to increase awareness, enhancing distribution base, and expanding geographic presence.
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