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(Health-NewsWire.Net, May 05, 2020 ) The growth of Viral Clearance Market is primarily driven by factors such as the growth in the pharmaceutical and biotechnology industries, increasing number of new drug launches, R&D investments in life science, advancements in nanofiltration technology, and high incidence and large economic burden of chronic diseases.
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.
Research Methodology:
Top-down and bottom-up approaches were used to validate the size of the global viral clearance market and estimate the size of other dependent submarkets. Various secondary sources such as the International Society for Pharmaceutical Engineering, International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), International Pharmaceutical Federation (FIP), International Diabetes Federation (IDF), European Federation of Biotechnology, International Rare Diseases Research Consortium (IRDiRC), Canadian Institutes of Health Research, Association of the British Pharmaceutical Industry (ABPI), Indian Drug Manufacturers Association, Chinese Medical Association, Korean Research- based Pharma Industry Association (KRPIA), directories, industry journals, databases, press releases, and annual reports of the companies have been used to identify and collect information useful for the study of this market.
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Scope of the Report & Segmentation in Depth:
Based on application, the 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 owing to the increasing use of cellular therapies in the treatment of various disorders, increasing public and private funding for stem cell research, rising awareness about stem cell therapies, and the use of tissue-based therapies to treat various diseases.
On the basis of end user, the viral clearance market is segmented into pharmaceutical & biotechnology companies, CROs, academic research institutes, and other end users. The contract research organizations segment is expected to register the highest CAGR during the forecast period. The high growth in this segment can be attributed to the ability of CROs to invest in extensive drug discovery infrastructure and the rising outsourcing of Drug Discovery Services to CROs by pharmaceutical companies, academic institutes, small biotechnology companies, and start-ups.
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Geographical Analysis:
The North American region is expected to account for the largest share of the market in 2018. The viral clearance market in the region is driven by the presence of national institutes supporting biotechnology and life science research, growth in the pharmaceuticals industry, and the increasing number of drug approvals. The rising prevalence of diseases, growing production of monoclonal antibodies, and government support for the development of drugs are some of the key factors driving the viral clearance market in the US. In Canada, increasing pharmaceutical production is expected to boost the growth of the viral clearance market.
The key players in the global viral clearance market are Wuxi Biologics (Cayman) (China), Merck KGaA (Germany), Charles River Laboratories International Inc. (US), and Texcell Inc. (France). These companies together accounted for 70.0% of the global viral clearance market in 2017. Other players together accounted for 30.0% of the market. These include Kedrion (Italy), Vironova Biosafety (Sweden), Clean Cells (France), BSL BIOSERVICE Scientific Laboratories Munich GmbH (Germany), and ViruSure GmbH (Austria).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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