Global Virus Filtration Market Growth Driven by Chronic Diseases
The new report by Expert Market Research titled, ‘Global Virus Filtration Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global virus filtration market, assessing the market based on its segments like product, applications, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 2.07 Billion
- Forecast CAGR (2021-2026): 12.5%
- Forecast Market Size (2026): USD 4.19 Billion
One of the major factors driving to the virus filtration is the rising prevalence of chronic diseases. The increasing number of chronic diseases such as cancer, diabetes, and autoimmune disorders is expected to drive biologics demand. The major driver, which is anticipated to increase the market growth during the forecast period, is the compliance of the product with drug development and manufacturing regulatory frameworks such as the Current Good Manufacturing Practice (cGMP) legislation. The increased focus on vaccines, protein treatments, blood products, cellular therapy products, gene therapy products, tissue products, and stem cell products is likely to stimulate demand for consumables such as reagents, kits, and membranes. Increased demand for outsourcing services that cater to the specialised demands of vaccine and therapeutic protein manufacturing companies has come from a surge in the number of vaccine and therapeutic protein manufacturing companies, providing lucrative growth potential for the industry.
Industry Definition and Major Segments
Viruses are characterised as unwanted tiny contagious agents or particles that must be eradicated in order to prevent drug infertility, especially in the pharmaceutical sector. Virus filtration membranes are used to remove viruses from biopharmaceutical products during purification. It is a critical practice in the pharmaceutical sector because it ensures the purity and consistent consumption of vital products while also optimising the economic process and reducing waste. Virus filtering is usually done at the end of any process’ purification stage.
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By product, the market includes:
- Kits, Reagents, and Consumables
- Filtration Systems
- Services
The end use of the industry is divided into:
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations (CROs)
- Academic Research Organisations
- Medical Device Companies
The leading application of the industry includes:
- Biological
- Medical Devices
- Water Purification
- Air Purification
On the basis of region, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The demand for medicinal biologics is increasing, which drives up the demand for virus filtration products in research and development and manufacturing. CROs are cooperating with biotechnology and biopharmaceutical businesses to create new medications and therapies, which is projected to drive the market expansion. The increased usage of these products for virus filtration provides lucrative growth opportunities to the market. Product advancements and new product launches support vendors in maintaining their dominance in the market, which is anticipated to boost the market growth. The presence of big biopharmaceutical and biotechnology companies, well-developed healthcare infrastructure, and access to advanced products are some of the major factors contributing to growth of the marker. The increasing adoption of single-use technologies, coupled with rapid technological advancement, is anticipated to propel the market growth during the forecast period.
Key Market Players
The major players in the market are Merck Group, Asahi Kasei Corporation, Sartorius Group, General Electric, Danaher Corporation, Pendotech, Lonza Group, and Charles River Laboratories, Inc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
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