(PharmaNewsWire.Com, January 29, 2021 ) Viral inactivation testing is necessary by regulatory authorities for investigational new drug (IND) submission and is mainly critical in process development for biological 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 report “Viral Inactivation Market by Product (Kits, Reagents, Systems, Services), Application (Stem Cell, Blood, Tissue, Cell & Gene Therapy), Method (Solvent Detergent, Pasteurization) & End User (Pharmaceutical and Biotechnology, CROs) – Global Forecast“, report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global viral inactivation market along with the estimates and forecasts of the revenue and market share analysis.
According MarketsandMarkets Research – The Global Viral Inactivation Market poised to grow at a CAGR of 12.3%, to reach USD 573.0 Million.
Growth Drivers in Depth:
# Rapid Growth in Pharmaceutical and Biotechnology Industries # Increasing Number of New Drug Launches # Strong R&D Investments in the Life Sciences Industry # Increasing Government Support for Pharmaceutical and Biotechnology Industries
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).
There is a high degree of consolidation in the viral inactivation market, with few large players dominating the market. High degree of consolidation is major barriers for new entrants in this market. Small and medium-sized players account for a small share of the market and their business interests remain concentrated in local markets across emerging geographies. Merck KGaA (Germany), Danaher Corporation (U.S.), Sartorius AG (Germany), SGS S.A. (Switzerland), and Parker Hannifin (U.S.) are the leaders in this market. The combined market share of these five companies, far exceed that of all other players. Overall, about 75% of the global viral inactivation market will be dominated by these companies in 2015. Furthermore, acquisitions by market leaders in this field have strengthened their market positions and have served to further consolidate the market.
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).
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
