PYROGEN TESTING MARKET ANALYSIS

Pyrogen Testing MarketSize and Trends

The global pyrogen testing market is estimated to be valued at US$ 979.7 million in 2020 and is expected to exhibit a CAGR of 12.4% over the forecast period (2020-2027).

Figure 1. Global Pyrogen Testing Market Share (%) in Terms of Value, By Region, 2019

Increasing product launches by market players is expected to propel the market growth over the forecast period

Various manufacturers are engaged in launching new testing technologies, which is expected to drive growth of the global pyrogen testing market. For instance, in May 2018, bioMérieux SA, a company focusing on industrial microbiological control, announced the launch of ENDOZYME II GO, an endotoxin test. The company launched ENDOZYME II GO under the range of recombinant horseshoe crab Factor C (rFC) assays, which enables endotoxin testing in pharmaceutical water grades, parenteral drugs, and other pharmaceutical products.

Increasing research & development of therapeutic drugs and medical devices is expected to drive the market growth over the forecast period

Increasing research and development of therapeutic drugs and medical devices is propelling growth of the pyrogen testing market over the forecast period. According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), November 2016, an estimated US$ 1.7 trillion was spent on research and development for various medical applications, globally. Moreover, the U.S. Food and Drug Administration (FDA) and its Center for Drug Evaluation and Research (CDER) approved around 59 novel drugs in 2018 compared to 46 approvals of new molecule entities in 2017.

Global Pyrogen Testing Market – Impact of Coronavirus (Covid-19) Pandemic

The coronavirus disease (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) as a pandemic on March 11, 2020.

According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, around 25 million cases and 800,000 deaths due to coronavirus disease (COVID-19) were reported on August 31, 2020 across the globe.

According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the coronavirus disease (COVID-19) cases in different regions reported on August 30, 2020 are as follows:

Such dynamic increase in number of COVID-19 cases across the world has encouraged biotechnology and pharmaceutical companies to develop advanced detection kits and drugs for COVID-19, which is expected to propel growth of the pyrogen testing market over the forecast period.