(PharmaNewsWire.Com, February 11, 2021 ) Major Growth Boosting Factors: 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 Viral Inactivation 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.
Revenue Growth Opportunities: The Global Viral Inactivation Market is 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 # High Incidence and Large Economic Burden of Chronic Diseases
Growth Opportunities:
# Increasing Pharmaceutical Outsourcing # Developing Countries Present Significant Growth Opportunities for the Market
The viral inactivation market is divided into solvent detergent method, pasteurization, and other methods. Other viral inactivation method includes low pH, microwave heating, irradiation, and high-energy light. Of these, the solvent detergent method segment accounted for the largest share of the global market.
By end user,
The Viral Inactivation Market is segmented 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.
By Application;
The segments included in the report are blood & blood products, cellular & gene therapy products, stem cell products, tissue & tissue products, and vaccines and therapeutics
Geographical Scenario: The segments included in this report are Asia, Europe, North America, and the Rest of the World (RoW). The North America segment is further divided into Canada and the U.S. Asia segment is further divided into China, Japan, India, and Rest of Asia.
Global Leaders: 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).
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