Virus Filtration Market by Product Type (Kits & Reagents, Virus Filters & Filtration Systems and Services) Application (Biological (Blood & Blood Products, Vaccines & Therapeutics, and Stem Cell Products), Water Purification, Medical Devices, and Air Purification), End User (Pharmaceutical & Biotechnology Companies, Academic Research Institutes, Contract Research Organizations and Medical Device Companies) and Region - Analysis & Forecast 2019-2030
Report ID : 42 | Published Date : Apr 2019 | Pages : 150 | Region : Global | Report Code : MD-24
Virus Filtration Market Overview and Introduction
Virus filtration market is estimated to be over US$ 1,200 Mn in 2017. It is anticipated to grow at a double digit CAGR from 2019 to 2030.
The threat of contamination of biological products, namely vaccines, bio therapeutics and biologics is a major source of concern for laboratories, pharmaceutical companies and other research & educational establishments. Such contaminations may arise as a result of chemical impurities, fungi, bacteria and viruses. The occurrence of viral contamination affects the raw materials, cell culture, bioreactors and several downstream processes. Therefore, practicing virus safety and virus filtration studies is extremely pivotal in the process of manufacturing as well as research studies.
Rapid growth in the demand for biopharmaceutical products is a major contributing factor contributing to the growth of the global virus filtration market. The ability of biotherapeutics to treat diseases and ailments and not merely its symptoms with high efficacy and minimal side effects has been crucial in continual adoption of these products. Moreover, increasing investments in the sector of R&D coupled with rising incidences of chronic disorders worldwide is anticipated to present a lucrative scenario for the extensive growth of this market. However, stringent rules and regulation for validation of virus filtration products is likely to restrain the market to a certain extent.
Virus Filtration Market by Product Type
On the basis of product type, the virus filtration market is segmented into kits & reagents, virus filters & filtration systems and services. In terms of revenue, the kits & reagents segment is anticipated to account for the largest share of the global virus filtration market. The growth of the segment can be attributed to the recurring demand of these products for everyday laboratory use.
Virus Filtration Market by Applications
Similarly the segment of applications is classified into biological, water purification, medical devices, and air purification. The biological applications segment can be further segmented into blood & blood products, vaccines & therapeutics, stem cell products and other biological applications. The segment of biological applications is estimated to account for the largest share of the virus filtration market, owing to the rising adoption of biotherapeutics or biopharmaceuticals and growing awareness regarding stem cell therapies, tissue-based therapies and other treatments for several diseases.
Virus Filtration Market by End Users
Finally, on the basis of end user the virus filtration market can be distinctly segmented into pharmaceutical & biotechnology companies, academic research institutes, contract research organizations and medical device companies and other end users. Growing number of pharmaceutical industries coupled with rising preference of biotherapeutics over conventional medications, is estimated to contribute significantly to the dominant market share of pharmaceutical & biotechnology companies segment.
Virus Filtration Market by Regions
The global virus filtration market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of virus filtration, followed by Europe and Asia Pacific. North America will continue to dominate the global virus filtration market in the forecast period owing to factors such as highly developed healthcare system, presence of private and public funding in the sector of R&D and technological advancements among others. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the rising focus of major players in emerging Asian countries and government support, continual growth of the biopharmaceutical industry are driving the growth of the virus filtration market in this region.
Virus Filtration Market Prominent Players
The prominent players in the global virus filtration market are Asahi Kasei Corporation, Merck KGaA, Sartorius AG, Thermo Fisher Scientific, Inc., General Electric, Charles River, PendoTECH, Danaher, Lonza and Medical Respiratory Devices among others