The size of the Latin American pyrogen testing market is expected to be worth USD 158.39 million by 2027 and USD 83.72 million in 2022, growing at a 13.60% CAGR during the forecast period.
The market for pyrogen testing in Latin America is expected to be driven by the rising demand for in vitro assays to identify the presence and quantity of bacterial endotoxins in biological products and medicines. In addition, the growing focus on personalized medicine, increased R&D in industries, rising prevalence of chronic diseases, increased awareness of food safety, and rising incidence of infectious diseases and pandemics are all driving market expansion. A rise in body temperature, for instance, is a frequent immunological response found in the development of many chronic and acute disorders. The rise in such disorders among the elderly has boosted the demand for pyrogen testing. In addition, increased demand for pyrogenic testing items in the pharmaceutical increasing number of innovative treatments released and biotechnology industries, and rising R&D spending in life science are driving the market.
The Latin American pyrogen testing market is expected to rise in line with rising per capita healthcare spending. Increasing healthcare spending is likely to lead to increased demand for higher-quality pharmaceuticals and medical devices, which would provide profitable growth opportunities for Latin American pyrogen testing market players. Because of the rising prevalence of infectious diseases, the need for pyrogen testing procedures has been steadily increasing over the last decade. During the forecast period, demand for pyrogen testing is expected to rise due to an increase in the prevalence of infectious diseases. Endotoxin identification products can help with infectious illness management, especially in areas where healthcare infrastructure is lacking. This has resulted in a rise in pyrogen testing products, which is helping the market grow. In the coming years, the growing number of outsourcing activities in the medical industry is likely to provide lucrative prospects for the Latin American pyrogen testing industry.
The government's strict regulations on animal use and the variability in LAL (Limulus amoebocyte lysate) tests are restricting the expansion of the pyrogen testing market in Latin America. As a result, the Latin America Pyrogen Testing Market is likely to be hampered by a lack of healthcare facilities and a scarcity of modern pyrogen testing instruments throughout the forecast period. Furthermore, the market's expansion is constrained by a high level of regulatory limitations.
This research report on the Latin American pyrogen testing market has been segmented and sub-segmented into the following categories:
By Test Type:
Geographically, with increased usage of the pyrogen testing market in surging demand for endotoxin testing in the pharmaceutical and biotechnology industries, Brazil in Latin America is predicted to develop at the fastest rate in the forecast period. Another key aspect contributing to the market's expansion was increased expenditure in research by manufacturing companies and the government for new product development. Manufacturers use new product development and launch as a crucial strategy to maintain their market dominance and maximize revenue share. Furthermore, manufacturers use new product development and launch as a vital strategy to maintain their market dominance and maximize revenue share. In addition, market development is aided by technical advancements and the introduction of new drugs.
KEY MARKET PLAYERS:
A few of the prominent companies in the Latin American pyrogen testing market profiled in this report are Associates of Cape Cod, Inc., Lonza Group, Merck KGAA, Thermo Fisher Scientific, Ellab A/S, Genscript, Hyglos GmbH, Charles River Laboratories, Inc., Wako Chemicals USA, Inc., and WUXI Pharmatech (Cayman) Inc.
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