Pune, India, May 23, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Viral Clearance Market size was valued at USD 539.6 million in 2022 and is projected to grow from USD 621.1 million in 2023 to USD 1,867.5 million by 2030, exhibiting a CAGR of 17.0% during the forecast period. Viral clearance is crucial in manufacturing biosimilar, stem cell products, biopharmaceuticals, antibodies, and others. Robust investments in biotechnology are expected to boost the clearance’s adoption. Furthermore, increasing investments in pharmaceutical products may foster industry development. Moreover, the rising research and development activities are expected to bolster the process’ sales. In addition, the rising healthcare expenditures may fuel the industry's growth. Fortune Business Insights™ shares this information in its report titled “Viral Clearance Market, 2023-2030.”
Key Industry Development:
January 2022: Texcell have announced its plans to expand its plans for the expansion of U.S. facility for increasing the capabilities for all their service lines, which includes ustomized R&D cell culture, GLP viral clearance studies, and select GMP assay capabilities for viral safety testing.
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Key Takeaways:
- Viral Clearance Market size in North America was USD 201.9 million in 2022
- Rising R&D investment in pharmaceutical and biotechnology sectors drives market growth.
- The industry development is set to surge due to increasing regulations on viral safety.
- The viral inactivation method segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report:
- Merck KGaA (Germany)
- Charles River Laboratories (U.S.)
- WuXi Biologics (China)
- Texcell (France)
- Vironova (Sweden)
- Kedrion (Italy)
- Clean Cells (France)
- ViruSure GmbH (Austria)
- Sartorius AG (Germany)
- Syngene International Limited (India)
- Microbiologics (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 17.0% |
| 2030 Value Projection | USD 1,867.5 Million |
| Base Year | 2022 |
| Viral Clearance Market Size in 2022 | USD 539.6 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 128 |
| Segments covered | By Method, By Application and Geography |
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Drivers & Restraints:
Manufacturing of Novel Biopharmaceuticals to Bolster Market Development
The rising research and development expenditures in pharmaceutical industries are expected to bolster market development. For example, according to the Indian Brand Equity Foundation (IBEF) analysis in 2019, pharmaceutical companies in India spent 8-13% of their turnover on R&D. The rising demand for innovative and high-quality products may increase viral clearance adoption. Furthermore, the manufacturing of novel biopharmaceuticals is expected to boost the product adoption. These factors may drive the viral clearance market growth.
However, the high costs associated with the service hindered the market’s progress during the pandemic.
Segmentation:
By Method
- Viral Removal Method
- Viral Inactivation Method
- Viral Detection Method
By Application
- Blood and Blood Products
- Recombinant Proteins
- Cellular & Gene Therapy Products
- Vaccines
- Others
By End-user
- Pharmaceutical and Biotech Industry
- Academic Research Institutes
- CROs
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
Presence of National Institutes Supporting Life Research to Fuel Market Growth in North America
North America is expected to dominate the viral clearance market share due to the presence of national institutes supporting life research. The market in North America stood at USD 201.9 million in 2022 and is expected to grow positively in the coming years. Furthermore, increasing drug approvals may foster market development.
In Europe, the strong foundation of biotechnology is expected to fuel the viral clearance adoption. Furthermore, development in manufacturing and surge in medical research funding are expected to bolster market growth.
In Asia Pacific, the increasing manufacturing and generics development may foster the development of the industry globally.
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Competitive Landscape:
Prominent Players Emphasis on Acquisition Strategies to Bolster Brand Image
Prominent companies operating in the market devise acquisition strategies to improve activities and boost their brand image. For example, Virushare GmbH acquired Bionique Testing Laboratories LLC. in December 2021. Bionique is a leading mycoplasma testing service and life-sciences service provider. This acquisition may enable the company to enhance its activities and boost its brand image. Furthermore, companies devise mergers, partnerships, acquisitions, product launches, collaborations, and other strategies with an aim to boost their market position worldwide.
FAQs
What is the viral clearance market growth?
Viral Clearance Market size was 539.6 million in 2022. It is expected to reach USD 1,867.5 million by 2030.
How fast is the viral clearance market growing?
The Viral Clearance Market will exhibit a CAGR of 17.0% during the forecast period, 2023-2030.
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