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(Health-NewsWire.Net, December 01, 2020 ) According to the new market research report “Viral Clearance Market by Application (Recombinant Proteins, Blood, Vaccines), End User (Pharmaceutical & Biotechnology Companies, CROs), Method (Viral Removal (Chromatography, Nanofiltration), Viral Inactivation (Low pH)) – Global Forecast” published by MarketsandMarkets™.
The Global Viral Clearance Market is expected to reach USD 724.5 million, at a CAGR of 21.7% during the forecast period.
The Key Factors Who will Drives the Market Growth?
- Growth in the Pharmaceutical and Biotechnology Industries
- Increasing Number of Drug Launches
- Favorable R&D Investment Scenario
- Possibility of Cell Culture Contamination
- Advancements in Nanofiltration Technology
Major Market Growth Opportunities:
- Increasing Pharmaceutical Outsourcing
- Emerging Markets.
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Market Segmentation in Detailed:
Based on application, 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 method, 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 R&D activities by biopharmaceutical companies; high acceptance of this method; and the accuracy, speed, and flexibility provided by the method in life sciences research.
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Leading Key Players in the Worldwide Industry:
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 market. 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).
Geographical Regions Mapped in Report:
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 market in the US. In Canada, increasing pharmaceutical production is expected to boost the growth of the market.
However, Asia Pacific is expected to witness the highest growth during the forecast period, owing to increase in generics development and manufacturing, surge in funding for medical research and the presence of a 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.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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