The Global Virus Filtration market is forecast to reach USD 4.11 Billion by 2027, according to a new report by Reports and Data. Technological advancements in this filtration process and growing demand for single-use technologies are also supporting the expansion of the market. With growing technological advancements, market players are coming up with the single-use design in which the filter is gamma compatible and simple in terms of implementation in mAb processes and helps in conducting the research within the allocated fund by reducing the unnecessary allocation of budget to costly sanitization. A number of market players are coming up with innovative products that eliminate the requirement for pre-flushing. Such advancement acts as a major driving factor supporting the expansion of the market. The recent H1N1 Influenza outbreak, SARS outbreak, and anthrax attacks in 2001 have also resulted in increasing investment in researches on these viruses by the government of different nations, which is also fostering the demand for the process. Herein COVID-19 pandemic and the associated increasing number of researches being conducted to understand the nature of the virus is acting as a major opportunity for the growth of the sector.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.
Further key findings from the report suggest:
- In context to Product Type, the Consumables segment is projected to occupy a considerable market share of more than 50.0% in 2019. Consumables primarily include reagents & kits. One of the mentionable factor contributing to the market share held by the Consumables segment is the availability of wide product ranges and for virus filtration, development of new reagents, kits, along with other consumables by major market players which are contributing to the market held by this segment.
- In regards to Application, the Biologics segment held a considerable share of the market of more than 0% in 2019. Biologics include cellular and gene therapy products, vaccines and therapeutics, tissue and tissue products, blood and blood products, among others. The growing incidence rate of chronic diseases like cancer, diabetes is contributing to the market share held by this segment.
- In context to End-user, the CROs segment is projected to witness a considerable growth rate of 13.5% during the forecast period. The market share held by the segment is attributed to the continuous expansion of the biopharmaceutical industry, increasing emphasis on R&D activities, efforts for developing drugs and biologics production, and associated outsourcing of these projects to CROs, which is contributing to the growth rate witnessed by this segment.
- In December 2019, Thermo Fisher Scientific had opened a viral vector manufacturing site in Massachusetts. The viral vector CDMO (contract development and manufacturing organization) site valued USD 90 million. Thus, such expansion by market players would increase the demand for the filtration process.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
Danaher, Merck KGaA, Thermo Fisher Scientific Inc., Sartorius AG, Charles River Laboratories International, Inc.GE Healthcare, Asahi Kasei Medical Co., Ltd., Lonza Group Ltd, WuXi PharmaTech Inc and Clean Cells Inc.
Virus Filtration Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Consumables
- Instruments
- Services
Application Outlook (Revenue, USD Billion; 2017-2027)
- Water Purification
- Biologicals
- Air Purification
- Medical Devices
End-user Outlook (Revenue, USD Billion; 2017-2027)
- Biopharmaceutical & biotechnology companies
- Medical devices companies
- CROs
- Academic institutes & research laboratories
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Virus Filtration market over the forecast period?
- What are the major factors driving the growth of the Global Virus Filtration Market?
- What are the key challenges impacting the global Virus Filtration market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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