Virus Filtration Market Research Report Forecast To 2032
Ngày đăng: 08-08-2023 |
Ngày cập nhật: 08-08-2023
The global Virus Filtration Market had a valuation of USD 3.64 billion in 2022, and projections indicate that it will expand significantly to reach USD 10.09 billion by 2032, experiencing a Compound Annual Growth Rate (CAGR) of 12% over the forecast period. One of the principal factors propelling the upward trajectory of virus filtration market revenue is the strict adoption of regulatory laws and standards governing the production of Biologics and Vaccines. Government mandates necessitate the implementation of virus filtration technology, driving the demand for advanced and efficient virus filtration systems within the biopharmaceutical sector. The aim of these regulations is to mitigate the potential risk of viral contamination in biologic products.
Another driving force behind the revenue growth in the virus filtration market is the escalating prevalence of chronic diseases, including cancer and autoimmune disorders. The escalating availability of biologics and pharmaceuticals for treating these ailments has amplified the requirement for virus filtration technology, consequently propelling market revenue. The need for state-of-the-art virus filtering technology in the biopharmaceutical field stems from the imperative to ensure the safety and effectiveness of medications.
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The adoption of virus filtration technology is further bolstered by the burgeoning trend of outsourcing biologic manufacturing to Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs). In light of limited manufacturing capacity resulting from the heightened demand for biologics and therapeutic drugs, manufacturing operations are being outsourced to CROs and CMOs. This trend is poised to significantly contribute to the market's revenue growth throughout the forecast period.
Government Regulations:
The kits and reagents segment is anticipated to exhibit the highest revenue CAGR throughout the forecast period. This growth can be attributed to the popularity of self-testing methods and the escalating demand for diagnostic kits to identify viral infections swiftly. Diagnostic kits are utilized to rapidly detect viral diseases such as HIV, hepatitis, and influenza, finding extensive use in hospitals and clinics due to their simplicity, speed, and affordability. As viral diseases become more prevalent and public awareness of early disease detection grows, the demand for diagnostic kits is projected to rise.
The services category is also expected to experience substantial growth during the forecast period, propelled by the increasing requirement for contract research and manufacturing services within the biopharmaceutical industry. Contract research organizations (CROs) and contract manufacturing organizations (CMOs) offer services such as virus elimination validation, process development, and viral filtration testing to biopharmaceutical companies. The trend of outsourcing research and development activities is expected to drive the segment's expansion.
End-User Landscape: The virus filtration market encompasses various end-user segments, including pharmaceutical and biotechnology companies, contract research organizations (CROs), and academic research institutes. In 2021, pharmaceutical and biotechnology companies accounted for the highest revenue share in the global virus filtration market. Factors like increased demand for biologics and biosimilars, higher investment in R&D activities, and a growing prevalence of viral infections contribute to the segment's growth. These companies require virus filtration for the production of diverse biopharmaceutical products, including vaccines, monoclonal antibodies, and recombinant proteins. As the demand for biopharmaceutical products surges, along with the need to ensure their safety and efficacy, the adoption of viral filtration technology in pharmaceutical and biotechnology companies is expected to increase.
Throughout the forecast period, the contract research organizations (CROs) segment is anticipated to experience the most rapid revenue CAGR. The expansion of this segment is closely linked to the outsourcing of research and development operations by pharmaceutical and biotechnology companies. CROs offer a range of services, including virus filtration testing, process development, and virus elimination validation, attracting biopharmaceutical companies seeking cost-effectiveness and shorter time-to-market advantages.
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Regional Market Dynamics: The virus filtration market's dominance currently lies in North America, owing to the region's robust presence of biopharmaceutical corporations and the widespread application of advanced virus filtration technologies. North America's market leadership is also influenced by the escalating demand for biologics and therapeutic products.
The Asia Pacific region is projected to experience substantial market growth during the forecast period. Factors such as the rising demand for biopharmaceuticals, increased investment in research and development activities, availability of cost-effective labor and raw materials, particularly in countries like China and India, are expected to fuel market expansion in this region.
The European market is expected to witness moderate growth over the projected period. Factors contributing to this expansion include the growing demand for biopharmaceutical products and increased investments in research and development activities. The presence of significant biopharmaceutical companies and research institutions in countries like Germany and the UK is also poised to drive market growth in Europe.
Key Market Players and Competitive Landscape: The global virus filtration market features several major players, including:
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Another driving force behind the revenue growth in the virus filtration market is the escalating prevalence of chronic diseases, including cancer and autoimmune disorders. The escalating availability of biologics and pharmaceuticals for treating these ailments has amplified the requirement for virus filtration technology, consequently propelling market revenue. The need for state-of-the-art virus filtering technology in the biopharmaceutical field stems from the imperative to ensure the safety and effectiveness of medications.
Get a free sample PDF of the report, visit @ https://www.reportsanddata.com/download-free-sample/3032
The adoption of virus filtration technology is further bolstered by the burgeoning trend of outsourcing biologic manufacturing to Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs). In light of limited manufacturing capacity resulting from the heightened demand for biologics and therapeutic drugs, manufacturing operations are being outsourced to CROs and CMOs. This trend is poised to significantly contribute to the market's revenue growth throughout the forecast period.
Government Regulations:
- The U.S. Food and Drug Administration (FDA) mandates the use of virus filtration in drug, biologics, and vaccine production to ensure safety and efficacy.
- The European Commission enforces the European Biopharmaceutical Viral Safety Regulation, requiring virus filtration in biopharmaceutical and medical device manufacturing.
- The World Health Organization has established guidelines for virus filtration in drug and vaccine production, emphasizing quality control and testing.
- The U.S. Department of Health and Human Services Office of the Inspector General provides guidance on virus filtration, including recordkeeping and risk management requirements.
The kits and reagents segment is anticipated to exhibit the highest revenue CAGR throughout the forecast period. This growth can be attributed to the popularity of self-testing methods and the escalating demand for diagnostic kits to identify viral infections swiftly. Diagnostic kits are utilized to rapidly detect viral diseases such as HIV, hepatitis, and influenza, finding extensive use in hospitals and clinics due to their simplicity, speed, and affordability. As viral diseases become more prevalent and public awareness of early disease detection grows, the demand for diagnostic kits is projected to rise.
The services category is also expected to experience substantial growth during the forecast period, propelled by the increasing requirement for contract research and manufacturing services within the biopharmaceutical industry. Contract research organizations (CROs) and contract manufacturing organizations (CMOs) offer services such as virus elimination validation, process development, and viral filtration testing to biopharmaceutical companies. The trend of outsourcing research and development activities is expected to drive the segment's expansion.
End-User Landscape: The virus filtration market encompasses various end-user segments, including pharmaceutical and biotechnology companies, contract research organizations (CROs), and academic research institutes. In 2021, pharmaceutical and biotechnology companies accounted for the highest revenue share in the global virus filtration market. Factors like increased demand for biologics and biosimilars, higher investment in R&D activities, and a growing prevalence of viral infections contribute to the segment's growth. These companies require virus filtration for the production of diverse biopharmaceutical products, including vaccines, monoclonal antibodies, and recombinant proteins. As the demand for biopharmaceutical products surges, along with the need to ensure their safety and efficacy, the adoption of viral filtration technology in pharmaceutical and biotechnology companies is expected to increase.
Throughout the forecast period, the contract research organizations (CROs) segment is anticipated to experience the most rapid revenue CAGR. The expansion of this segment is closely linked to the outsourcing of research and development operations by pharmaceutical and biotechnology companies. CROs offer a range of services, including virus filtration testing, process development, and virus elimination validation, attracting biopharmaceutical companies seeking cost-effectiveness and shorter time-to-market advantages.
To know more about the latest insights of the report, visit @
https://www.reportsanddata.com/request-latest-insight/3032
Regional Market Dynamics: The virus filtration market's dominance currently lies in North America, owing to the region's robust presence of biopharmaceutical corporations and the widespread application of advanced virus filtration technologies. North America's market leadership is also influenced by the escalating demand for biologics and therapeutic products.
The Asia Pacific region is projected to experience substantial market growth during the forecast period. Factors such as the rising demand for biopharmaceuticals, increased investment in research and development activities, availability of cost-effective labor and raw materials, particularly in countries like China and India, are expected to fuel market expansion in this region.
The European market is expected to witness moderate growth over the projected period. Factors contributing to this expansion include the growing demand for biopharmaceutical products and increased investments in research and development activities. The presence of significant biopharmaceutical companies and research institutions in countries like Germany and the UK is also poised to drive market growth in Europe.
Key Market Players and Competitive Landscape: The global virus filtration market features several major players, including:
- Merck KGaA
- Pall Corporation (Danaher Corporation)
- Sartorius AG
- Thermo Fisher Scientific Inc.
- GE Healthcare
- Lonza Group Ltd.
- Meridian Bioscience Inc.
- Wuxi Biologics
- Asahi Kasei Medical Co., Ltd.
- Merck KGaA's acquisition of AmpTec, a German biotechnology firm specializing in RNA- and DNA-based reagents for research and diagnostics, to augment its virus filtration technology and nucleic acid amplification product line.
- Pall Corporation (Danaher Corporation)'s introduction of the Pall AcroPrep Advance Filter Plate, a virus filtration technology designed to enhance filtration efficiency by enabling high-throughput viral filtration without prefiltration.
- Sartorius AG's acquisition of Biological Industries, a prominent supplier of cell culture media and reagents, to expand its product line in the biopharmaceutical sector and enhance its virus filtration technology.
- Thermo Fisher Scientific Inc.'s collaboration with Novavax for COVID-19 vaccine development, leveraging Thermo Fisher Scientific's virus filtration technology to ensure vaccine safety and purity.
- Product Type Outlook: Kits & Reagents, Filtration Systems, Services
- Application Outlook: Biologicals, Vaccines, Blood & Blood Products, Cellular & Gene Therapy Products, Others
- End-Use Outlook: Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes
- Regional Scope: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
- Country Scope: U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, Turkey
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.
Browse for more reports:
Clotrimazole Market
Acquired Immunodeficiency Syndrome Market
Anti-Hypertensive Drugs Market
Gastrointestinal Stromal Tumor Market
Juvenile Idiopathic Arthritis Market
Acute Coronary Syndrome (ACS) Treatment Market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
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