(PharmaNewsWire.Com, March 27, 2021 ) According MarketsandMarkets™ Research – The report “Viral Clearance Market by Application (Recombinant Proteins, Blood, Vaccines), End User (Pharmaceutical & Biotechnology Companies, CROs), Method (Viral Removal (Chromatography, Nanofiltration), Viral Inactivation (Low pH)) – Global Forecasts”, is expected to reach USD 724.5 million by 2023 from USD 271.2 million in 2018, at a CAGR of 21.7% during the forecast period.
The key factors driving the growth of Viral Clearance Market include growth in the pharmaceutical and biotechnology industries, increasing number of new drug launches, R&D investments in life science, advancements in nanofiltration technology, and the high incidence and large economic burden of chronic diseases.
Objectives of the Study:
# To define, measure, and describe the global viral clearance market by application, method, end user, and region
# To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities)
# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
# To forecast the size of market segments in North America, Europe, Asia Pacific, and RoW
The recombinant proteins segment is expected to account for the largest share of the market
On the basis of application, Segmented into four categories recombinant proteins, blood and blood products, vaccines, and other applications. In 2018, the recombinant proteins segment is expected to account for the largest share of the viral clearance market owing to the high potential of recombinant proteins to treat various diseases, fewer side effects, and shorter development time as compared to small molecules. Furthermore, the regulatory requirement to demonstrate the capacity of the purification process to effectively clear infectious viruses during the manufacturing of recombinant proteins is also expected to support the growth of this market segment during the forecast period.
The pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market
By end user, Segmented into pharmaceutical & biotechnology companies, CROs, academic research institutes, and other end users. In 2018, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the global viral clearance market. The large share of this segment can be attributed to the rapid expansion of the biopharmaceutical industry, growth in the number of research activities in life sciences, increasing R&D investments in drug development, and increasing number of drug launches.
The North American region is expected to account for the largest share of the market, driven by the presence of national institutes supporting biotechnology and life science research, growth in the pharmaceuticals industry, and the increasing number of drug approvals. The rising prevalence of diseases, growing production of monoclonal antibodies, and government support for the development of drugs are some of the key factors driving the viral clearance market in the US. In Canada, increasing pharmaceutical production is expected to boost the growth of the market. However, Asia Pacific is expected to witness the highest growth during the forecast period
Global Key Leaders:
The key players in the global viral clearance market are Wuxi Biologics (Cayman) (China), Merck KGaA (Germany), Charles River Laboratories International Inc. (US), and Texcell Inc. (France), Kedrion (Italy), Vironova Biosafety (Sweden), Clean Cells (France), BSL BIOSERVICE Scientific Laboratories Munich GmbH (Germany), and ViruSure GmbH (Austria).
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