The viral clearance market is projected to grow at a CAGR of 21.7%
LONDON, Sept. 24, 2018 /PRNewswire/ --
The viral clearance market is projected to grow at a CAGR of 21.7% during the forecast period.
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The global viral clearance market is expected to reach USD 724.5 million by 2023 from an estimated USD 271.2 million in 2018, at a CAGR of 21.7% during the forecast period. Growth in the pharmaceutical and biotechnology industries, increasing number of new drug launches, R&D investments in life science, advancements in nanofiltration technology, and the high incidence and large economic burden of chronic diseases are expected to drive the growth of the viral clearance market. However, the high-cost requirements for drug development may hamper the pace of activity in this sector, and consequently the adoption of viral clearance practices.
By application, the other applications segment is expected to grow at the highest rate during the forecast period.
On the basis of application, the global viral clearance market is segmented into recombinant proteins, blood and blood products, vaccines, and other applications. The other applications segment is expected to grow at the highest CAGR during the forecast period owing to the increasing use of cellular therapies in the treatment of cancer, hematologic malignancies, autoimmune disorders, and damaged tissue; growing industry focus on stem cell research; increasing awareness about stem cell therapies; and the use of tissue-based therapies to treat various diseases related to the kidneys, liver, heart, and lungs.
• By method, the viral removal segment is expected to dominate the viral clearance market.
On the basis of method, the global viral clearance market is segmented into two broad categories—viral removal and viral inactivation.The viral removal segment is estimated to account for the largest share of the global viral clearance market in 2018.
This segment is also expected to grow at the highest rate during the forecast period. The large share of this market segment is primarily attributed to the growth of biopharmaceutical R&D activities; high acceptance of this method; and the accuracy, speed, and flexibility provided by the method in life sciences research.
The Asia Pacific viral clearance market is expected to grow at the highest CAGR during the forecast period.
Asia Pacific is expected to witness the highest growth from 2018 to 2023, owing to increase in generics development and manufacturing, surge in Chinese funding for medical research, and presence of large number of CROs to provide preclinical and clinical research services in China, government initiatives to boost the use of generic drugs, increasing aging population in Japan, rise in pharmaceutical R&D expenditures in India, and the growing pharmaceutical manufacturing in Singapore and Malaysia.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–55%, Tier 2–25% and Tier 3–20%
• By Designation – C-level–43%, Director Level–32%, Others–25%
• By Region – North America–37%, Europe–23%, Asia Pacific–30%, RoW–10%
The key players in the global viral clearance market are Charles River Laboratories International, Inc. (US), Merck KGaA (Germany), Wuxi Biologics (Cayman) (China), Kedrion S.p.A. (Italy), Vironova Biosafety (Sweden), Texcell (France), Clean Cells (France), BSL BIOSERVICE Scientific Laboratories Munich GmbH (Germany), and ViruSure GmbH (Austria).
Research Coverage:
The report analyzes the viral clearance market and aims at estimating the market size and future growth potential of this market based on various segments such as application, end user, method, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the services offered by the top players in the viral clearance market. The report analyzes the market based on application, end user, method, and region
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the viral clearance market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various viral clearance solutions across regions
• Market Diversification: Exhaustive information about services, untapped regions, recent developments, and investments in the viral clearance market
• Competitive Assessment: In-depth assessment of market shares, strategies, distribution networks, and manufacturing capabilities of the leading players in the market
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