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(Health-NewsWire.Net, April 07, 2021 ) A combination of bottom-up and top-down approaches were used to calculate market sizes and growth rates of the global Viral Inactivation Market and its sub-segments. Secondary information was used to identify overall revenue, geographic reach, and product portfolios of market players. Estimates of their viral inactivation market segment revenues were validated through primary interviews. Primary interviews with key opinion leaders were also used to determine the percentage shares of each subsegment and the relative differences in growth rates
According to the new market research report "Viral Inactivation Market by Product (Kits, Reagents, Systems, Services), Application (Stem Cell, Blood, Tissue, Cell & Gene Therapy), Method (Solvent Detergent, Pasteurization) & End User (Pharmaceutical and Biotechnology, CROs) - Global Forecast" published by MarketsandMarkets™.
Expected Revenue Surge: The Global Viral Inactivation Market poised to grow at a CAGR of 12.3%, to reach USD 573.0 Million.
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Viral inactivation testing is necessary by regulatory authorities for investigational new drug (IND) submission and is mainly critical in process development for biologicals including tissue and tissue products, stem cell products, cellular and gene therapy products, blood and blood products, and vaccine and therapeutics. The major drivers for the market are rapid growth in pharmaceutical and biotechnology industries and strong trend of R&D investments in life sciences industry.
Increasing number of new drug launches, rise in chronic disease burden, and increasing government support for the pharmaceutical and biotechnology industries will also aid the growth of this market.
Geographical Scenario in Depth: The geographic segments included in this report are Asia, Europe, North America, and the Rest of the World (RoW). The North America segment is further divided into Canada and the U.S. Asia segment is further divided into China, Japan, India, and Rest of Asia.
Leading Key-Players:
Major players in the viral inactivation market include Clean Cells (France), Charles River Laboratories International, Inc. (U.S.), Danaher Corporation (U.S.), Merck KGaA (Germany), Parker Hannifin (U.S.), Rad Source Technologies (U.S.), Sartorius AG (Germany), SGS S.A. (Switzerland), Texcell, Inc. (France), Viral Inactivated Plasma Systems SA (Switzerland), and WuXi PharmaTech (Cayman) Inc. (China).
Merck KGaA (Germany), Danaher Corporation (U.S.), Sartorius AG (Germany), SGS S.A. (Switzerland), and Parker Hannifin (U.S.) are the leaders in this market. The combined market share of these five companies, far exceed that of all other players. Overall, about 75% of the global viral inactivation market will be dominated by these companies in 2015. Furthermore, acquisitions by market leaders in this field have strengthened their market positions and have served to further consolidate the market.
Acquisition and expansions were the two most important growth strategies employed in this market. An analysis of market developments and expansion was the most adopted growth strategy employed by the market leaders in this period.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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