Portland, OR, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Viral clearance Market by Method (Viral Removal, Viral Inactivation), by Application (Recombinant Proteins, Blood and Blood Products, Cellular and Gene Therapy Products, Vaccine, Other Applications), by End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global viral clearance industry was estimated at $425.9 million in 2021, and is anticipated to hit $977.8 million by 2031, registering a CAGR of 8.6% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape.
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Drivers, restraints, and opportunities-
Increase in demand from the pharmaceutical & biotechnological industries, new drug releases in different segments, and related approval procedures drive the growth of the global viral clearance market. On the other hand, high degree of consolidation act impedes the growth to some extent. However, emergence of new drugs and government policies has paved the way for lucrative opportunities for the key players in the industry.
Covid-19 scenario-
- The outbreak of the pandemic had influenced the demand for viral clearance significantly. Pharmaceutical and biotech firms across the globe were working together to combat the pandemic, from funding production of vaccinations to dealing with supply chain issues for drugs.
- Furthermore, commonly used drugs such as Hydroxychloroquine had witnessed a dramatic spike in demand for management of Covid-19. Such high demand for these drugs had brought forth huge opportunities for manufacturers of Covid-19 management drugs, as many developed countries were falling short of these medications.
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The viral removal segment to dominate by 2031-
By method, the viral removal segment contributed to nearly three-fifths of the global viral clearance market share in 2021, and is expected to lead the trail by 2031. The same segment is also expected to showcase the fastest CAGR of 8.9% during the forecast period, owing to increasing awareness about the benefits of using viral removals among healthcare professionals and consumers.
The recombinant proteins segment to maintain the lion’s share-
Based on application, the recombinant proteins segment generated nearly two-fifths of the global viral clearance market revenue in 2021, and is expected to lead the trail by 2031, due to high consumption of recombinant proteins drugs. The cellular and gene therapy products segment, on the other hand, would manifest the fastest CAGR of 10.1% from 2022 to 2031. Increase in number of clinical trials of cellular and gene therapy products drives the segment growth.
The pharmaceutical and biotechnology companies segment to retain its dominance-
By end-user, the pharmaceutical and biotechnology companies segment held nearly half of the global viral clearance market revenue in 2021, and is expected to lead the trail by 2031. This is attributed to increase in utilization of viral clearance processing during production of biopharmaceuticals. The contract research organizations segment, however, would manifest the fastest CAGR of 9.7% from 2022 to 2031, owing to increasing number of drug manufacturers outsourcing their product testing studies.
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North America garnered the major share in 2021-
Based on region, North America held the major share in 2021, generating nearly two-fifths of the global viral clearance market. Upsurge in demand for advanced technologies in the purification of recombinant proteins produced by animal cell cultures to create high-value products of modern biotechnology fuels the market growth. The Asia-Pacific region, simultaneously, would garner the fastest CAGR of 10.0% by 2031. Rise in investments made by the market players and increase in government support drive the market growth.
Key players in the industry-
- Creative Biogene
- Eurofins Scientific SE
- Maravai Lifesciences Holding, Inc.
- Wuxi Biologics Inc.
- Allure Medical Group
- Merck KGaA
- Clean Cells
- Sartorius Stedium Biotech
- Syngene International Limited
- Charles River Laboratories International, Inc.
The report analyzes these key players in the global viral clearance market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
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