The global virus filtration market is expected to reach USD 6.1 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 12.5% over the forecast period, increasing demand for biological products such as vaccines, therapeutic proteins, blood & blood products, cellular & gene therapy, tissue, and stem cell products is a major factor driving market 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 undertaken 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, the increasing R&D on biologics is expected to drive the demand for these products.
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https://www.grandviewresearch.com/industry-analysis/virus-filtration-market
Further Key Findings From the Report Suggest:
- The consumables segment was the largest revenue generating segment of the market in 2016 owing to the increased usage of consumables including reagents, kits, and membranes in biologics downstream processing
- In the technology segment, the chromatography segment is projected to grow at the highest growth rate during the forecast period. This is because of product advancements such as disposable or single-use membranes that eliminate the risk of a potential virus contaminant
- The biologicals segment accounted for the largest share of the market 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 biopharmaceutical & biotechnology companies segment is projected to grow at the highest CAGR during the forecast period because of increasing investment in R&D and production of biologics
- North America dominated the overall market in 2016 primarily due to the presence of several leading biotechnology companies and increased R&D activities for the development of biologics
- The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. Growing presence of CROs in Asia Pacific 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 growth of this region.
- 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
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 Information: www.grandviewresearch.com
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