The new report by Expert Market Research titled, ‘Global Viral Inactivation Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the viral inactivation market, assessing the market based on its segments like product, applications, end uses and major regions, among others.
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.
Viral Inactivation Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 552.33 million
• Forecast CAGR (2023-2028): 11.50%
• Forecast Market Size (2028): USD 1061.33 million
Due to new product launches and rising investment on research and development (R&D) activities in the life sciences sector, the viral inactivation market is expanding rapidly in Europe. Meanwhile, the Asia Pacific area is anticipated to grow quickly due to the expanding healthcare infrastructure.
It is predicted that the viral inactivation market would rise in the coming years due to the rising frequency of chronic illnesses in emerging nations like China and India as well as the growing interest in life sciences and biotechnology research activities. It is anticipated that North America would hold a sizable portion of the viral inactivation market. This is explained by the strong healthcare system and the existence of significant pharmaceutical and biopharmaceutical firms.
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The United States government’s growing investment in healthcare research and development (R&D) is anticipated to support the industry in North America. The development of the viral inactivation business is anticipated to be aided by the booming pharmaceutical sector, the rising number of innovative medication approvals, and the increasing penetration of university and research institutions that support biotechnology and life sciences research.
Additionally, it is projected that the market for viral inactivation will grow during the forecast period due to the growing adoption of technologically improved techniques for the creation of new and unique pharmaceuticals.
Viral Inactivation Industry Definition and Major Segments
Viral inactivation is a method of viral elimination in which the viruses are removed but remain non-infectious in the finished product. An important phase in the viral clearance process is the inactivation of the viruses. Manufacturing biological products including tissue and tissue products, stem cell products, vaccinations, and medications, among others, depends on viral inactivation.
By product, the market is divided into:
• Kits and Reagents
The significant applications of viral inactivation are:
• Vaccines and Therapeutics
• Stem Cell Products
• Blood and Blood Products
• Tissue and Tissue Products
• Cellular and Gene Therapy
The various end-uses of viral inactivation in the market are:
• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutes
The major regional markets of the viral inactivation market are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa regions
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Viral Inactivation Market Trends
The viral inactivation sector is being driven by the increased prevalence of chronic diseases including cancer, autoimmune disorders, and other illnesses as well as rising healthcare costs. The industry is also being driven by the biotechnology and pharmaceutical sectors’ explosive expansion as well as the rising number of new drug releases. Particularly in the aftermath of the COVID-19 pandemic, several governments are actively establishing supportive efforts to encourage and fund viral inactivation research studies.
The need for efficient viral inactivation is sharply increasing and propelling market expansion due to the growing worries over the transmission of blood-borne viruses through plasma-derived medicinal products. An increase in the utilisation of kits and reagents is fuelling market expansion as a result of the life science industry’s rising spending in research and development (R&D) activities for the creation of novel therapies.
The need for viral inactivation is increasing due to improvements in nano filtration technology, which is boosting the production of biopharmaceutical medications by effectively eliminating viral contamination. Additionally, it is anticipated that the increased research and development (R&D) efforts for advancements in stem cell, cellular, and gene therapy would present attractive potential prospects for the market expansion during the forecast period.
Key Market Players
The major players in the market are :
- Rad Source Technologies Inc
- Merck KGaA
- Parker Hannifin Corp
- Sartorius AG
- Cerus Corporation
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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