Virus Filtration Market Global Innovations, Competitive Analysis, New Business Developments and Top Companies – Global Forecast to 2025
Virus Filtration Market Insight
According to The Insight Partners market research study titled ‘Virus filtration Market - Global Analysis and Forecasts By product, application, and end user, the global virus filtration market is expected to reach US$ 5,555.4 Mn in 2025 from US$ 2,139.4 Mn in 2017. The market is estimated to grow with a CAGR of 13.0% from 2018-2025. The report highlights the trends prevalent in the global virus filtration market and the factors driving the market along with those that act as deterrents to its growth.
Virus filtration is a robust and effective virus clearance technology that is common unit operation in the manufacture of biologics. Some biological therapeutic products are produced using mammalian cell lines or human plasma. The risk of contamination with either known or unknown viruses in these products has been demonstrated; hence, regulatory agencies have mandated that manufacturers evaluate the risks of virus contamination and take necessary measures to mitigate these risks. The growth of the Virus filtration in healthcare market is attributed to the rising application of Virus filtration in healthcare, Launch of new virus filtration system, adoption of inorganic strategies by market players and rising demand for virus filtration technologies in biotechnology and pharmaceuticals.
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Virus Filtration Market Comparative Landscape and Key Development
The major players operating in the virus filtration market include Merck KGaA, Danaher (Pall Corporation) and Sartorius AG, Thermo Fisher Scientific Inc., General Electric, Lonza, Charles River, WuXi AppTec, Asahi Kasei Medical Co., Ltd. and Clean Cells among others.
The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in September 2017, Merck launched the Viresolve Pro Shield H for removal of parvoviruses from therapeutic protein feed streams. The product is used as a prefilter with Viresolve Pro Devices for more robust, cost-economic viral clearance. The developments performed by the companies are helping the market to grow in the coming years.
The market for virus filtration is expected to grow due to rapid growth of biotechnology & pharmaceutical industry, stringent regulatory framework and increasing investments and R&D outsourcing activities. In addition, growth of pharmaceutical and medical device outsourcing as well as high potential of emerging nations are likely to have a positive impact on the growth of the virus filtration market in the coming years.
Growing Applications of Virus filtration in Healthcare to Drive Virus filtration in Healthcare Market Growth
In the recent years, pharmaceutical industry has been developing at an unusually rapid pace. Manufacturers along with their alliance with the CROs are confronting to the enormous healthcare challenges through new medicines, therapy forms, progressing digitalization and constantly changing the regulations. According to the World Health Organization, the global population is increasing by 1.24% per annum leading to rise in number of people in the geriatric class. The WHO also suggests that the proportion of people aged 65 to 80 will rise to 28% in 2030, compared to 22% in 2000. Moreover, according to a survey report published by Torreya Economical Model 2017, pharmaceutical industry is 30% larger than its previous estimations till 2017 and contributes to one of the top five industries increasing global economy value. Additionally, increasing urbanization as well as rising number of middle income population is resulting into drug makers producing inexpensive and affordable medications leading to the market growth. These formulations are brought into the market that are passed through stringent regulatory guidelines to ensure patient safety.
Virus clearance tests are among the most commonly performed tests to confirm elimination of any traces of known or unknown viruses from the drug formulations. This is expected to increase the demand of the pharmaceutical and biotechnology companies to increase the demand of the virus filtration process to eliminate the virus in order to achieve the product with high quality and efficacy. Research and development (R&D) is an essential and crucial part contributing to the company’s business, financial and organic growth.
The drug development and discovery is time-consuming and expensive process. The process from early discovery or design to development to regulatory approval can take more than 10 to 15 years. Throughout the development phase of a drug substance, various testing services are required to check the quality and efficacy of the product. Thus, the consistently performed viral clearance tests at various stages during the research activities is expected to drive the growth of virus filtration market.
Global virus filtration market, based on the product was segmented into filtration systems, kits & reagents, services, and others. In 2017, the kits & reagents segment held the largest share of the market, by product. The kits & reagents segment is expected to grow at the fastest rate during the coming years as the kits and reagents are easy and safe to use as well as requires very little expertise while following the simple protocol to achieve the goals.
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