Mycoplasma testing market expected to value nearly $2 million by 2031
Posted: 15 March 2024 | Catherine Eckford (European Pharmaceutical Review) | No comments yet
Technology innovations and a stronger focus on developing novel drugs to treat chronic diseases, are key drivers for the global mycoplasma testing market up to the next decade, research states.
According to research published by Coherent Market Insights, the global mycoplasma testing market is anticipated to reach $1,907.6 million by 2031.
The market is set to witness a compound annual growth rate (CAGR) of 9.7 percent during the forecast period, the report predicted.
What is driving and limiting growth in the market?
Specifically, technology innovations such as sequencing technology, supported by “strong government funding for biomedical research” in the US has driven rapid developments in this area.
As for other market strategies, mergers and acquisitions (M&A) are expected to aid in market growth over the forecast period, the report stated.
The research also explained that an increased focus on developing novel drugs to treat various chronic and life-threatening diseases is putting pressure on biopharma companies to launch new products in the market under strict regulatory timelines.
However, financial limitations are impacting the market too. The high costs of mycoplasma testing equipment such as PCR systems and microbial culture supplies, is an additional limitation for market growth. This can pose a challenge for small and medium size laboratories and research facilities, especially as these tests are required to be performed regularly as per regulatory guidelines, according to the report.
Mycoplasma testing market
Regional drivers
In Europe, growth in the mycoplasma testing market is being propelled by R&D advancements, the research highlighted.
However, North America is expected to be the largest market for mycoplasma testing during the forecast period. It is predicted to hold over 35.7 percent of the market share in 2024, the report stated.
The report asserted that the Asia Pacific region is expected to be the second-largest market, holding over 25.2 percent of the market share in 2024. This region is the fastest growing regional market for mycoplasma testing, the research noted.
The paper highlighted that key players in the global mycoplasma testing market include:
- Charles River Laboratories International
- Merck KGaA
- Merck
- Lonza Group Ltd
- Thermo Fisher Scientific
Related topics
Drug Development, Drug Safety, Industry Insight, Microbiology, QA/QC, Research & Development (R&D), Technology
Related organisations
Charles River Laboratories International, Coherent Market Insights, Lonza, Merck, Merck KGaA, Thermo Fisher Scientific
