(PharmaNewsWire.Com, August 29, 2021 ) The Key Growth Elements in Detailed?
The growth of Viral Clearance Market is primarily driven by factors such as the growth in the pharmaceutical and biotechnology industries, increasing number of new drug launches, R&D investments in life science, advancements in nanofiltration technology, and high incidence and large economic burden of chronic diseases.
Worldwide Growth Opportunities in Terms of Revenue:
The Global Viral Clearance Market is expected to reach USD 724.5 million by 2023 from an estimated USD 271.2 million in 2018, at a CAGR of 21.7% during the forecast period.
The recombinant proteins segment is expected to account for the largest share of the market in 2018
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 viral clearance 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 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 in 2018. The viral clearance market in the region is 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 market in the US. In Canada, increasing pharmaceutical production is expected to boost the growth of the market.
Major Key Players Mentioned in the research report are:
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). These companies together accounted for 70.0% of the global market. Other players together accounted for 30.0% of the market. These include Kedrion (Italy), Vironova Biosafety (Sweden), Clean Cells (France), BSL BIOSERVICE Scientific Laboratories Munich GmbH (Germany), and ViruSure GmbH (Austria).
Merck KGaA (Germany) is one of the leading players in the viral clearance market. The company’s Process Solutions business unit offers over 15,000 products and services including single-use manufacturing, filtration, chromatography, purification, virus reduction, drug delivery compounds, and engineering and validation services. R&D is a key area of focus for Merck-it invested USD 272.3 million in R&D activities in 2017. The company strives to expand its product portfolio, build a better network for increasing its customer base, and enter new markets. The company mainly focuses on achieving organic growth to expand its geographic presence in international markets.
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