(PharmaNewsWire.Com, October 06, 2020 ) According MarketsandMarkets Research - The Global Viral Inactivation Market poised to grow at a CAGR of 12.3%, to reach USD 573.0 Million.
Viral inactivation testing is necessary by regulatory authorities for investigational new drug (IND) submission and is mainly critical in process development for biologicals including tissue and tissue products, stem cell products, cellular and gene therapy products, blood and blood products, and vaccine and therapeutics.
The major drivers for the market are rapid growth in pharmaceutical and biotechnology industries and strong trend of R&D investments in life sciences industry. Increasing number of new drug launches, rise in chronic disease burden, and increasing government support for the pharmaceutical and biotechnology industries will also aid the growth of this market.
The product segments included in the report are kits and reagents, services, and viral inactivation systems and accessories.
Based on end user this market is categorized into pharmaceutical and biotechnology companies, contract research organizations, academic research institutes, and other end users. Other end user segment primarily includes cell banks, small cell culture laboratories and consultants, microbiology laboratories, immunology laboratories, molecular laboratories, animal facilities, toxicology laboratories, and media/sera manufacturers.
The application segments included in the report are blood & blood products, cellular & gene therapy products, stem cell products, tissue & tissue products, and vaccines and therapeutics. Based on geography the market is segmented into North America, Europe, Asia and Rest of the World (RoW).
Major players in the viral inactivation market include Clean Cells (France), Charles River Laboratories International, Inc. (U.S.), Danaher Corporation (U.S.), Merck KGaA (Germany), Parker Hannifin (U.S.), Rad Source Technologies (U.S.), Sartorius AG (Germany), SGS S.A. (Switzerland), Texcell, Inc. (France), Viral Inactivated Plasma Systems SA (Switzerland), and WuXi PharmaTech (Cayman) Inc. (China).
Acquisition and expansions were the two most important growth strategies employed in this market. An analysis of market developments between 2012 and 2016 revealed that expansion was the most adopted growth strategy employed by the market leaders in this period. For instance, in October 2014, SGS Life Science Services completed the expansion of biologics testing facility in Glasgow, UK. The 500 square meter expansion, with a staff of 45 personnel will offer a full range of validated bioanalytical methods for testing of biologics, viral vaccines, and gene & cell therapies. This strategy was adopted by Clean Cells (France), Charles River Laboratories International, Inc. (U.S.), Merck KGaA (Germany), Sartorius AG (Germany), SGS S.A. (Switzerland), and WuXi PharmaTech (Cayman) Inc. (China).
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