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(Health-NewsWire.Net, May 26, 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 Forecasts to 2023″, is expected to reach USD 724.5 million by 2023 from USD 271.2 million in 2018, at a CAGR of 21.7%.
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.
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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.
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 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.
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).
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Wuxi Biologics (Cayman) (China) dominated the global viral clearance market in 2017. 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 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.
Merck KGaA (Germany) is one of the leading players in the viral clearance market. The company’s Process Solutions business unit offers over 15,000 products and services including single-use manufacturing, filtration, chromatography, purification, virus reduction, drug delivery compounds, and engineering and validation services. R&D is a key area of focus for Merck-it invested USD 272.3 million in R&D activities in 2017. The company strives to expand its product portfolio, build a better network for increasing its customer base, and enter new markets. The company mainly focuses on achieving organic growth to expand its geographic presence in international markets.
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Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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