The global virus filtration market size is expected to reach USD 7.0 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 12.7% during the forecast period. Increasing demand for biological products such as vaccines, therapeutic proteins, blood and blood products, cellular and gene therapy, tissue, and stem cell products is a major factor driving the growth. Biopharmaceuticals are mainly derived from human, animal, and plants and therefore require a scrutinized virus filtration procedure to avoid virus contamination in the production. Therefore, the necessity of this procedure during the production of biologics is expected to boost the market growth.
Many
leading biopharmaceuticals and biotechnology manufacturers are involved in
R&D to develop innovative biological products. For instance, in 2016,
Pfizer Inc. invested USD 7,872.0 million in R&D, which was around 8% more
than the R&D investment in 2015. This investment was mainly made to boost
innovation and productivity in R&D to accomplish a sustainable pipeline of
vaccines and differentiated therapies with lucrative commercial opportunities.
Virus filtration is an important step in biologics development, thus,
increasing R&D on biologics is expected to drive the product demand.
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Further key
findings from the report suggest:
- Consumables was the largest
revenue generating segment in 2018 owing to the increased usage of
consumables including reagents, kits, and membranes in biologics
downstream processing
- Chromatography technology
segment is projected to expand at the fastest CAGR during the forecast
period, owing to advancements such as disposable or single-use membranes
that eliminate the risk of a potential virus contaminant
- Biologicals segment held the
largest market share in 2018 and is projected to maintain its dominance during
the forecast period due to rising prevalence of chronic diseases such as
cancer, blood disorders, and diabetes
- The biotechnology and
biopharmaceutical companies segment is projected to expand at the fastest
CAGR over the forecast period owing to increasing investment in R&D
and production of biologics
- North America led the virus
filtration market in 2018 primarily due to the presence of several leading
biotechnology companies and increased R&D activities
- Asia Pacific is estimated to
expand at the highest CAGR during the forecast period. Growing presence of
CROs in countries including China and India due to the presence of a large
genome pool, less stringent regulations, and availability of economical
labor force is contributing to the regional growth
- Some of the major players
are Merck KGaA; Sartorius; Danaher; Thermo Fisher Scientific, Inc.;
Charles River Laboratories International, Inc.; GE Healthcare; Asahi Kasei
Medical Co., Ltd.; WuXi PharmaTech (Cayman) Inc.; Lonza; and Clean Cells
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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