New York, NY, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Virus Filtration Market by Product (Kits and Reagents, Filtration Systems, Services, and Others), by Application (Biologicals, Vaccines and Therapeutics, Blood and Blood Products, Stem Cell Products, Medical Device, Air Purification and Water Purification, Tissue and Tissue Products, Cellular and Gene Therapy Products), and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Medical Device Companies) : Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global virus filtration market was valued at approximately USD 2.31 billion in 2017 and is expected to reach around USD 4.93 billion by 2024, growing at a CAGR of 12.4% between 2018 and 2024.
Viral clearance is one of the important parts of the downstream process in the production of biopharmaceuticals. Viral contamination can occur through engineered cell lines, contaminated raw materials or media, and the manufacturing environment. The industry provides an array of filter systems and filter capsules to provide robust and fiscal solutions for virus removal according to the process requirements. Primary factors responsible for the growth of virus filtration market are the expanding pharmaceutical industry and launch of new recombinant therapeutics. However, high costs and stringent regulatory policies are restraining the growth of the global virus filtration systems market. On the other hand, untapped markets in developing countries and rapid technological advancements in virus filtration solutions are expected to offer lucrative opportunities during the forecast period.
Browse through 41 Tables & 12 Figures spread over 110 Pages and in-depth TOC on “Global Virus Filtration Market Size 2017: Industry Type, Share, Trends, Analysis, and Forecast, 2024”.
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By product, the global virus filtration market is divided into filtration systems, services, kits & reagents, and others. Among these filtration systems segment was the highest revenue grosser in 2017. Virus filtration is a common unit operation in the manufacture of biological drugs. Many contract research organizations are actively collaborating with the leading biotechnology & biopharmaceutical companies for the clinical trials and development of novel drugs and therapies, which is also expected to offer lucrative opportunities in future that may augment the growth of the viral filtration market.
On the basis of application, the market is segmented into biologicals, vaccines and therapeutics, blood and blood products, stem cell products, medical device, air purification and water purification, tissue and tissue products, and cellular and gene therapy products. The growing trend of the pharmaceutical industry in the manufacturing of recombinant antibodies, biologics for immunotherapy, oncological drugs, and different biosimilars therapeutics is driving the growth of biologicals segment. The biologicals segment accounted for the maximum revenue share in 2017. Stem cell products and gene therapy products were the fastest growing application segment in the virus filtration market.
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The end users in the virus filtration market are pharmaceutical & biotechnology companies, contract research organizations, academic research institutes, and medical device companies. The pharmaceutical and biotechnological companies dominated the market and accounted the largest share in 2017. The bulky share of this segment is primarily credited to the prime factors such as growing need of virus retention in the product feed and the growing stringent regulatory policies for drug approvals. The contract research organization segment is expected to grow at the highest CAGR during the forecast period.
North America was the leading regional segment in virus filtration market with more than 40% share of the total market. The U.S. was the leading segment with the highest growth rate due to the presence of advanced research and development facilities. The U.S. and Canada were maximum revenue generators in 2017. The growth in this region was accounted for due to the strict regulatory policies implemented by the biologicals drug manufacturers. The U.S. Food and Drug Administration have mandated the screening of biotech products to demonstrate the virus clearance capability of the manufacturing process with one significant retrovirus, e.g., murine retrovirus before starting Phase I studies. Moreover, faster adoption of advanced technologies, the presence of a large number of well-established biotechnology and biopharmaceutical industries in the U.S. has spurred the demand for advanced virus filtration products for R&D and biologics production in this region.
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Europe was the second largest market followed by the Asia Pacific. The growth in this region was majorly due to the increased demand for virus filtration products for research and drug development & biologicals production. In addition, the presence of advanced healthcare infrastructure and investment of large capital in R&D, largely in Germany and the U.K. are expected to drive the growth of the European virus filtration market.
The Asia Pacific is expected to witness the fastest growth in the near future. China and India dominated the Asia Pacific virus filtration market. Asia Pacific is an emerging market with several opportunities for growth and is predicted to become a destination of investment for corporate investors in the biopharmaceutical industry in the forecast period. Drug discovery services, clinical outsourcing, and expanding pharmaceutical industry have fostered growth in this region. Latin America and the Middle East & Africa are growing at a slow pace due to lack of awareness. Increasing healthcare industry in Brazil and the rest of Latin America is anticipated to fuel the market growth in the region.
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Some of the key players in virus filtration market include Merck KGaA, Thermo Fisher Scientific Inc., Lonza Group Ltd., Pall Corporation, Charles River Laboratories International, Inc., Sartorius AG, Sigma-Aldrich Corporation, Asahi Kasei Medical Co., Ltd., WuXi PharmaTech Inc., and General Electric Company, among others.
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This report segments the global virus filtration market as follows:
Global Virus Filtration Market: Product Segment Analysis
- Kits and Reagents
- Filtration Systems
- Other Products
- Services
Global Virus Filtration Market: Application Segment Analysis
- Biologicals
- Vaccines and Therapeutics
- Blood and Blood Products
- Cellular and Gene Therapy Products
- Tissue and Tissue Products
- Stem Cell Products
- Medical Device
- Air Purification
- Water Purification
Global Virus Filtration Market: End-user Segment Analysis
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
- Academic Research Institutes
- Medical Device Companies
Global Virus Filtration Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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