Mycoplasma Testing Market to grow at a CAGR of 12.68% during 2024-2028
The Mycoplasma Testing Market is expected to grow at a CAGR of 12.68% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 743.4 million. Vendors in the global mycoplasma testing market are implementing strategic initiatives to expand their market footprint. In May 2022, Abbott secured US FDA approval for its Alinity m STI Assay, enabling detection and differentiation of four sexually transmitted infections, including Mycoplasma genitalium. Agathos Biologics, another market player, announced in April 2023 its collaboration with QIAGEN to offer analytical testing services using QIAcuity instrumentation and assays. Both companies are conducting testing and validation for mycoplasma and recombinant adeno-associated viral vector (rAAV) assays. These strategic collaborations, new product launches, and regulatory approvals demonstrate the market's dynamic growth and competition.
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Technavio analysts predict that the Pharmaceutical and biotechnology companies subsegment will lead the End-user segment during 2024 and 2028 Mycoplasma contamination poses a significant challenge for biopharmaceutical companies, leading to costly batch failures and potential revenue loss. These contaminations can cause substantial delays and resource consumption during the production process. Given the financial implications, it is imperative for biotech and pharma firms to implement rigorous mycoplasma testing regimens throughout their manufacturing processes. The increasing emphasis on research and development from governments is driving growth in the biopharmaceutical sector, making the need for reliable mycoplasma testing solutions more pressing than ever. By utilizing advanced mycoplasma testing products, companies can detect and address contamination issues at their onset, thereby minimizing losses and ensuring the production of high-quality therapeutics.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish increasing focus on r and d of biopharmaceuticals
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The Mycoplasma testing market is witnessing significant growth due to the increasing demand for microbiological monitoring in the biotechnology industry. Mycoplasma are microorganisms that can contaminate cell cultures used in the production of biologics such as Viral vaccines, Monoclonal antibodies, and Biologics. The presence of these contaminants can lead to impurities in the final product, affecting its efficacy and safety. Bristol-Myers Squibb and other pharmaceutical companies are investing in novel technologies for Mycoplasma detection to ensure the quality of their products. The media, both traditional and social, plays a crucial role in shaping buying behavior by creating awareness about the importance of Mycoplasma testing. New technologies such as PCR-based methods, flow cytometry, and automated systems are being adopted at an increasing rate to improve the accuracy and efficiency of Mycoplasma detection. Cell culture technology is also advancing, with the development of new methods for Mycoplasma-free cell lines. Non-Pharmaceutical Interventions (NPIs) such as filtration and sterilization are also being used to prevent Mycoplasma contamination. The Mycoplasma Detection Kit market is expected to grow significantly due to the increasing demand for rapid and accurate testing methods. The market is driven by the need for stringent regulatory compliance and the growing demand for safe and effective biologics.
The global life sciences tools and services market encompasses businesses involved in the research and development (R&D) of a range of product categories, including capital equipment, instruments, accessories, and consumables. These tools and services are utilized in the pharmaceutical and biotechnology industries for R&D purposes, as well as in laboratory diagnosis of various diseases. Additionally, this market includes life sciences-related services such as contract research, contract manufacturing, and contract sales. According to Technavio, the healthcare market size is determined by the collective revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services. Factors driving growth in the global life sciences tools and services market include the increasing global population aging, resulting in a larger demographic requiring healthcare solutions, and advancements in technology leading to the development of more sophisticated diagnostic and research tools.
The Mycoplasma Testing Market is experiencing significant growth, fueled by the increasing focus on r and d of biopharmaceuticals. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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