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(Health-NewsWire.Net, May 11, 2021 ) The 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”, is expected to reach USD 724.5 million by 2023 from USD 271.2 million in 2018, at a CAGR of 21.7% during the forecast period.
What Drives the Market Growth?
The key factors driving the growth of Viral Clearance Market include 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.
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Market Segmentation in Detailed:
On the basis of application, Segmented into four categories recombinant proteins, blood and blood products, vaccines, and other applications. In 2018, the recombinant proteins segment is expected to account for the largest share of the viral clearance market owing to the high potential of recombinant proteins to treat various diseases, fewer side effects, and shorter development time as compared to small molecules. Furthermore, the regulatory requirement to demonstrate the capacity of the purification process to effectively clear infectious viruses during the manufacturing of recombinant proteins is also expected to support the growth of this market segment during the forecast period.
By end user, Segmented into pharmaceutical & biotechnology companies, CROs, academic research institutes, and other end users. In 2018, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the global market. The large share of this segment can be attributed to the rapid expansion of the biopharmaceutical industry, growth in the number of research activities in life sciences, increasing R&D investments in drug development, and increasing number of drug launches.
Geographical View in-detailed:
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 viral clearance 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.
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Global Key Leaders:
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), Kedrion (Italy), Vironova Biosafety (Sweden), Clean Cells (France), BSL BIOSERVICE Scientific Laboratories Munich GmbH (Germany), and ViruSure GmbH (Austria).
Wuxi Biologics (Cayman) (China) dominated the global market. The company’s revenue increased from USD 148.9 million in 2016 to USD 239.6 in 2017; this has helped the company reinforce its position in the viral clearance market. The company offers its services to over 200 companies globally, which include 13 of the top 20 global pharmaceutical companies. Wuxi maintains 12 viral clearance suites to cater to the growing customer needs worldwide. Additionally, the company has a comprehensive database mining strategy to design optimal process parameters and steps for viral clearance to avoid ineffective steps. Wuxi Biologics implements a multichannel sales and marketing approach to build awareness about its brand. It is also a part of various industry trade conferences dedicated to biologics development and manufacturing worldwide.
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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