Wilmington, Delaware, United States, July 31, 2023 (GLOBE NEWSWIRE) -- The global monocyte activation test market is anticipated to grow at a 19.6% CAGR from 2023 to 2031. A market valuation of US$ 305.3 million is expected by end of the forecast period.
The demand for monocyte activation test is experiencing substantial growth, primarily propelled by a rise in the number of biotechnology and pharmaceutical companies worldwide, augmented research and development investments, and a surge in new drug approvals.
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The escalating healthcare expenditure, a rise in the development of innovative drugs, the introduction of biological products, and mounting public and regulatory focus on product safety are also anticipated to fuel market expansion. Growing patient safety concerns and demand for safer pyrogen testing methods in pharmaceutical, biotechnology, medical devices, and cosmetics industries drive the global market. The advantages of monocyte activation test include higher sensitivity, specificity, and ability to detect non-endotoxin pyrogens, making it an appealing alternative to traditional animal-based testing.
Monocyte activation test (MAT) demand in drug development is set to rise due to the increasing need for patient safety. The ethical aspect of monocyte activation test is a significant driver for this demand, as it offers an alternative to tests involving live animals, addressing concerns about animal welfare and unnecessary suffering. This shift towards more ethical testing practices aligns with societal values and emphasizes responsible research and development in the healthcare sector.
Key Takeaways from the Market Report
- The global monocyte activation test market is expected to be worth US$ 72.63 million in 2023.
- From 2023 to 2031, the market is estimated to expand at a CAGR of 19.6%.
- By product type, MAT Kits are expected to dominate the market by accounting for over 65% market share in 2023 while expanding at a CAGR of 20.2% during the forecast period.
- In terms of end-user, the pharmaceutical industry end-user segment is expected to generate substantial revenue while expanding at a CAGR of 24% during the forecast period.
- As per TMR projections, the demand for monocyte activation test in the United States is expected to expand with a CAGR of 19.3% throughout the forecast period.
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Monocyte Activation Test Market: Growth Drivers & Trends
- Growing patient safety concerns and demand for safer pyrogen testing methods in pharmaceutical, biotechnology, medical devices, and cosmetics industries drive market growth.
- The demand for monocyte activation tests is expected to rise due to increasing focus on ethical testing practices and the regulatory acceptance of monocyte activation tests as a validated method for pyrogen testing, encouraging its adoption by drug development companies.
- Technological advancements in enhancing the monocyte activation test (MAT) methods in various industries are expected to fuel market growth.
- The integration of advanced data analysis techniques and machine learning algorithms has been a contributing factor to the development of the market.
- The growing demand for pyrogen products and partnerships among key industry players are expected to boost market growth.
Monocyte Activation Test Market: Regional Analysis
- North America is expected to account for a significant market share of 36.4% in 2023. The market in this region is expected to expand at a CAGR of 19.2% during the forecast period. is a prominent region for the adoption of monocyte activation test due to its well-established pharmaceutical and medical device industries.
- The region's emphasis on patient safety and quality control is expected to drive market growth. Increasing demand for ethical and reliable pyrogen testing methods also contributes to market expansion. Regulatory acceptance of monocyte activation test by organizations like the United States Pharmacopeia (USP) and the Government of Canada further supports its integration into industry practices in the region.
- The market in Asia Pacific is expected to thrive at a CAGR of 19.5% during the forecast period. The growth is attributed to the expansion of pharmaceutical and healthcare industries in the region. Countries such as China, India, Japan, South Korea, and Australia are experiencing high adoption of monocyte activation test for pyrogen testing. Advancements in technology and increased awareness of monocyte activation test benefits further contribute to its popularity in Asia Pacific. The region's increased investment in healthcare infrastructure is further driving the market's progress.
Monocyte Activation Test Market: Prominent Players
The global market for monocyte activation test is characterized by several regional and global entities. Some key monocyte activation test providers profiled by TMR include:
- Merck KGaA
- Thermo Fisher Scientific
- Charles River Laboratories International Inc.
- Sanquin
- Microcoat Biotechnologie GmbH
- Becton, Dickinson, and Company
- SOLVIAS AG
- Lonza Group
Prominent developments in the monocyte activation test market by key players are as follows:
- On July 12, 2023, Merck revealed plans to expand its facility in Lenexa, Kansas, USA, with the addition of 9,100 sq m2 of lab space and production capacity dedicated to manufacturing cell culture media.
- In June 2023, Merck made an announcement to invest around USD 77.40 million in expanding reagent manufacturing in China.
- On February 16, 2023, Lonza announced the successful completion of the planned expansion of its bioconjugation facility in Visp, Switzerland (CH).
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Monocyte Activation Test Market- Key Segments
- Product Type
- MAT Kits
- Reagents
- Source
- PBMC Based
- Cell Line Based
- Application
- Drug Development
- Vaccine Development
- Medical Device Testing
- Others (Research, etc.)
- End-user
- Pharmaceutical Industry
- Biotechnology Industry
- Medical Device Industry
- Others (CROs, Academic & Research Institute, etc.)
- Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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