Virus Filtration Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global virus filtration market size is expected to reach USD
7.0 billion by 2026, according to a new report by Grand View Research, Inc. It
is anticipated to register a CAGR of 12.7% during the forecast period.
Increasing demand for biological products such as vaccines, therapeutic proteins,
blood and blood products, cellular and gene therapy, tissue, and stem cell
products is a major factor driving the growth. Biopharmaceuticals are mainly
derived from human, animal, and plants and therefore require a scrutinized
virus filtration procedure to avoid virus contamination in the production.
Therefore, the necessity of this procedure during the production of biologics
is expected to boost the market growth.
Many leading biopharmaceuticals and biotechnology
manufacturers are involved in R&D to develop innovative biological
products. For instance, in 2016, Pfizer Inc. invested USD 7,872.0 million in
R&D, which was around 8% more than the R&D investment in 2015. This
investment was mainly made to boost innovation and productivity in R&D to
accomplish a sustainable pipeline of vaccines and differentiated therapies with
lucrative commercial opportunities. Virus filtration is an important step in
biologics development, thus, increasing R&D on biologics
is expected to drive the product demand.
Further
key findings from the report suggest:
- Consumables was the largest revenue generating segment in 2018 owing
to the increased usage of consumables including reagents, kits, and
membranes in biologics downstream processing
- Chromatography technology segment is projected to expand at the
fastest CAGR during the forecast period, owing to advancements such as
disposable or single-use membranes that eliminate the risk of a potential
virus contaminant
- Biologicals segment held the largest market share in 2018 and is
projected to maintain its dominance during the forecast period due to
rising prevalence of chronic diseases such as cancer, blood disorders, and
diabetes
- The biotechnology and biopharmaceutical companies segment is
projected to expand at the fastest CAGR over the forecast period owing to
increasing investment in R&D and production of biologics
- North America led the virus filtration market in 2018 primarily due
to the presence of several leading biotechnology companies and increased
R&D activities
- Asia Pacific is estimated to expand at the highest CAGR during the
forecast period. Growing presence of CROs in countries including China and
India due to the presence of a large genome pool, less stringent
regulations, and availability of economical labor force is contributing to
the regional growth
- Some of the major players are Merck KGaA; Sartorius; Danaher; Thermo
Fisher Scientific, Inc.; Charles River Laboratories International, Inc.;
GE Healthcare; Asahi Kasei Medical Co., Ltd.; WuXi PharmaTech (Cayman)
Inc.; Lonza; and Clean Cells
Access
full research report on global virus filtration market:
www.grandviewresearch.com/industry-analysis/virus-filtration-market
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Created on Feb 10th 2020 06:14. Viewed 273 times.