With 5.1% CAGR, Mycoplasma Testing Market Size to Surpass USD 1,251.6 Million by 2030
As per the report by Fortune Business Insights, the global Mycoplasma Testing Market size is projected to reach USD 1,251.6 million in 2030, at a CAGR of 5.1% during the forecast period, 2023-2030
Mycoplasma Testing Market
Pune, India, Dec. 11, 2023 (GLOBE NEWSWIRE) — Global mycoplasma testing market is expected to expand from USD 883.5 million in 2023 to USD 1,251.6 million by 2030, exhibiting a CAGR of 5.1% over the study period. Market growth can be credited to growing R&D activities among biotechnology companies, and other research institutes, which is bolstering demand for mycoplasma testing reagents.
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Key Industry Development:
July 2023 – Merck KGaA announced an investment of USD 27.5 million for expanding cell culture media production in Kansas, U.S.
Key Takeaways:
- As per a 2022 article released by the American Type Cell Culture (ATCC), mycoplasma contamination affects approximately 15-35% of continuous cell cultures worldwide.
- In January 2023, SD Biosensor Inc., a developer of innovative diagnostic platforms, agreed to purchase Meridian Bioscience Inc., a prominent provider of diagnostic testing solutions.
- Thermo Fisher Scientific’s research and development (R&D) expenditure in 2022 was approximately USD 1,471.0 million, indicating a growth of about 4.6% compared to the preceding year.
- The market is categorized by product, with segments including reagents & kits and instruments.
- The size of the mycoplasma testing market in North America was assessed at USD 411.5 million in 2022.
Discover the Leading Players Featured in the Report:
Merck KGaA (Germany), Lonza (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Sartorius AG (Germany), bioMérieux SA (France), Asahi Kasei Corporation (Japan)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.1% |
| 2030 Value Projection | USD 1,251.6 million |
| Base Year | 2022 |
| Market Size in 2023 | USD 883.5 million |
| Historical Data | 2019-2021 |
| No. of Pages | 180 |
| Segments covered | By Testing Method, By Product, By Application, By End-user, By Region |
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Segmentation:
Surging Number of Product Approvals to Foster the Reagents & Kits Segment Growth
By product, the market is bifurcated into instruments and reagents & kits. The reagents & kits segment accounted for the largest mycoplasma testing market share in 2022. The growing number of product launches by major companies and approvals is escalating the reagents & kits segment growth.
High Efficiency of PCR-based Testing to Fuel Segment Growth
In terms of testing method, the market is divided into culture-based, PCR-based, and others. The PCR-based segment held the largest share in 2022. The efficiency and sensitivity of the PCR-based testing are high, which is impelling the segment expansion.
Increasing Concern about the Growing Contamination Rate to Drive the Cell Culture Segment Growth
With respect to application, the market is classified into vaccine testing, cell culture, virus testing, and others. The cell culture segment led the market in 2022. The rising concern about the growing contamination rate is proliferating the cell culture segment growth.
Rising Incidence of Chronic Disorders to Boost Biopharmaceutical & Biotechnology Companies Segment Growth
In terms of end user, the market is categorized into contract research organizations & contract manufacturing organizations, biopharmaceutical & biotechnology companies, cell banks, and others. The biopharmaceutical & biotechnology companies segment accounted for the largest share in 2022 owing to the growing occurrence of chronic disorders, which has led to surging research activities in these facilities.
From the regional perspective, the market is categorized into Europe, North America, Asia Pacific, and the rest of the world.
Driving factor:
Surging Partnership among Market Players for Combining Skill Sets and Technologies to Spur Market Growth
One of the major factors propelling the mycoplasma testing market growth is the rising partnership among companies to merge technologies and skill sets. The market players are increasingly emphasizing collaborating and introducing technologically advanced products owing to the growing demand for novel products and technology deployed for testing mycoplasma contamination.
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Regional insights:
North America Dominated Due to Growing Number of Research Activities
North America market for mycoplasma testing captured the largest share in 2022 on account of the surging number of research activities among facilities in the U.S. and other nations.
Asia Pacific market for mycoplasma testing is poised to witness the highest CAGR during the forecast period owing to growing collaborations of key players with regional companies in India, China, and others to perform research activities due to economic factors.
Competitive Landscape
Players Invest in Capacity Expansion Strategies to Boost their Geographical Presence
Some of the leading market players include Thermo Fisher Scientific Inc., Merck KGaA, F. Hoffmann-La Roche Ltd., and Lonza. Moreover, several key companies are focusing on competitive strategies such as mergers and acquisitions, joint ventures, and others to capture a major share. Companies are also investing in capacity expansion strategies to extend their geographical footprint.
FAQs
How big is the Mycoplasma Testing Market?
Mycoplasma Testing Market size was USD 883.5 million in 2023.
How fast is the Mycoplasma Testing Market growing?
The Mycoplasma Testing Market will exhibit a CAGR of 5.1% during the forecast period, 2023-2030
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