New York, April 20, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Reports Insights, the viral inactivation market is poised for healthy expansion and is estimated to reach US$ 1,208.22 million by 2030. The market, which was worth US$ 536.4 million in 2022, is predicted to grow at a compound annual growth rate of 12.3% during the period 2023-2030. The report highlights the major role of viral inactivation in the production of biopharmaceuticals that helps to eliminate any potential viral contamination and reduce risks of serious adverse effects in patients. Reports Insights' research study also offers insights into the market's regional outlook, competitive landscape, emerging technologies, and market segmentation in the viral inactivation market.
The demand for vaccines and biologics is expected to witness an increase in the future due to the rising incidence of infectious diseases and the aged population. This will lead to increased demand for viral inactivation technologies, as they are critical in the production of safe and effective vaccines and biologics.
Advancements in viral inactivation technologies are expected to lead to the development of new and more effective methods of viral inactivation. For instance, the usage of ultraviolet (UV) irradiation and microwave irradiation has shown promising results in inactivating viruses. As these technologies continue to improve, they will offer new opportunities for growth in the viral inactivation market.
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Many pharmaceutical companies are outsourcing their manufacturing processes to contract manufacturing organizations (CMOs) to reduce costs and increase efficiency. This trend is expected to drive the growth of the viral inactivation market, as CMOs will require viral inactivation technologies to meet the demands of their clients.
Regulatory authorities such as the Food and Drug Administration (FDA) and European Medicines Agency (EMA) have set stringent guidelines for the production of vaccines and biologics. These guidelines require that the final products are free from all infectious agents, including viruses. As a result, there is a growing demand for viral inactivation technologies that meet such regulatory requirements.
The large investments by the pharmaceutical industry in research and development to manufacture new therapies and vaccines are expected to create favorable circumstances for market growth in coming years. Such investment is expected to drive the growth of the viral inactivation market, as these new therapies and vaccines will require effective viral inactivation technologies.
Viral Inactivation Market Growth Drivers:
- Rising incidences of viral diseases such as HIV, hepatitis, and influenza boost the demand for viral inactivation technologies to help prevent the large-scale spread of such diseases.
- Increased usage of biologics due to growing awareness about the importance of ensuring drug safety fuels the demand for viral inactivation to eliminate any potential viral contamination that could lead to serious adverse effects in patients.
- Growing expenditures on technological advancements to develop effective and efficient viral inactivation techniques such as ultraviolet (UV) light and solvent/detergent (S/D) treatments accelerate the market growth in terms of effectiveness in viral inactivation.
Restraints
- High costs of viral inactivation processes due to the requirement for specialized equipment limit the wide adoption due to budget constraints among various businesses in terms of capital expenditures.
- Strict rules and guidelines by authoritative bodies in terms of safety concerns related to the manufacturing of vaccines and biologics also hinder the market growth.
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| Report Attributes | Report Details |
| Market Size By 2030 | US$ 1,208.22 Million |
| Forecast Period | 2023-2030 |
| Market Size By 2022 | US$ 536.4 million |
| CAGR (2023-2030) | 12.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Thermo Fisher Scientific Inc., Sigma-Aldrich (Merck KGaA), VWR International, LLC, Pall Corporation (Danaher Corporation), Rad Source Technologies, Sartorius AG, Texcell, WuXi Biologics, Macopharma |
| By Method |
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| By Product |
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| By Application |
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| By End Use |
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| By Geography |
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Key Market Takeaways
- In the context of Asia Pacific, rising numbers of chronic and autoimmune diseases and increased government funding for development of technologically advanced healthcare infrastructure are anticipated to support the market growth.
- The global viral inactivation market size is projected to reach over USD 1,208.22 Million by 2030 with a staggering CAGR of 12.3% during the forecast period (2023-2030).
- Based on method, the solvent/detergent inactivation segment contributed the highest shares to the viral inactivation market statistics in 2022.
- By product, the kits segment is projected to account for a significant shares contribution to the market growth during the forecast period
- In the context of application, the vaccines and therapeutics segment contributed the largest shares to the market growth in 2022.
- Based on the end use, the contract research organizations (CROs) segment accounted for the highest share contribution to the market statistics in 2022.
- North America dominates the market of viral inactivation with the highest market share contribution. The factors attributing to such favorable growth in the North American region are prevalence of advanced technologies for biopharmaceutical production combined with high expenditures by public and private ventures on healthcare.
Recent Developments
In May 2022, Pall Corporation collaborated with RD-Biotech, a Contract Research Organization (CRO) that specializes in producing plasmid DNA (pDNA) for early-phase clinical trials. The partnership will provide single-use solutions and purification technology to support the production of large quantities of Good Manufacturing Practice (GMP)-grade pDNA that meets industrial standards. Also, this collaboration aims to meet the increasing demand for gene and mRNA-based therapies, which has accelerated due to the development of COVID-19 vaccines and the numerous therapeutic opportunities in the drug development pipeline.
In May 2022, Yposkesi, a subsidiary of SK pharmteco, is a Contract Development and Manufacturing Organization (CDMO) that specializes in producing cell and gene therapies. The demand for viral vector production is constantly increasing, and Yposkesi intends to capitalize on its expertise in suspension cell culture by investing 5 million Euros in a new 1,000-liter manufacturing platform. This platform is expected to allow for the production of large quantities of high-quality vectors that are essential for gene therapy treatments.
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Competitive Landscape
As per the research, the market comprises leading companies such as Thermo Fisher Scientific Inc., Sigma-Aldrich (Merck KGaA), VWR International, LLC, and Pall Corporation (Danaher Corporation). The viral inactivation market is a rapidly growing segment of the biopharmaceutical industry which includes a wide range of products and services such as viral inactivation systems, viral filtration systems, and viral inactivation reagents. Further, the market is characterized by intense competition among market players in terms of product and service differentiation to gain a competitive edge.
List of Major Viral Inactivation Market Players
- Thermo Fisher Scientific Inc.
- Sigma-Aldrich (Merck KGaA)
- VWR International, LLC
- Pall Corporation (Danaher Corporation)
- Rad Source Technologies
- Sartorius AG
- Texcell
- WuXi Biologics
- Macopharma
Global Viral Inactivation Market Segmentation:
- By Method
- Solvent/Detergent Inactivation
- Pasteurization (Heating)
- Acidic pH Inactivation
- By Product
- Kits
- Reagents
- Systems
- Services
- By Application
- Blood & Blood Products
- Stem Cell Products
- Tissue & Tissue Products
- Vaccines and Therapeutics
- Cellular & Gene Therapy Products
- By End Use
- Contract Research Organizations
- Pharmaceutical and Biotechnology Companies
- Academic Research Institutes
- Others
Key Questions Covered in the Viral Inactivation Market Report
What are some of the key market players with a strong presence in market circumstances for the viral inactivation market?
Among multiple segments of the viral inactivation market, which segment is expected to contribute the largest share from 2023 to 2030?
What is the predicted market valuation for viral inactivation in 2030?
What micro and macro environmental factors will impact the growth trajectory of the viral inactivation market?
What are the key trends that drive the growth of the viral inactivation market from 2023 to 2030?
Which region is expected to offer creative opportunities for the increased market presence of viral inactivation during the forecast period?
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