New York, United States , Sept. 05, 2024 (GLOBE NEWSWIRE) -- The Global Viral Inactivation Market Size is to Grow from USD 653.8 Million in 2023 to USD 1915.2 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 11.35% during the projected period.
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The process of removing a virus's genetic makeup or structure renders it non-contagious and stops it from multiplying and infecting new hosts is known as viral inactivation. This procedure is primarily done to increase security and stop viruses in the sample from infecting the desired product. Though it cannot be active, the infection may still be present in the final result. The food and blood plasma industry uses a range of inactivation techniques to protect them against virus activity. A rise in investments in the life sciences industry, an increase in government funding for the pharmaceutical and biopharmaceutical industries, and an increase in drug approvals and releases are all factors driving the global viral inactivation market. To prevent the rising prevalence of deadly long-term diseases including cancer, HIV, and hepatitis, better biopharmaceutical treatments are needed. However, impeding the market development of virus inactivation is several issues related to the process, including protein denaturation and degradation, virus aggregate formation, and cross-linking.
Browse key industry insights spread across 230 pages with 125 Market data tables and figures & charts from the report on the "Global Viral Inactivation Market Size, Share, and COVID-19 Impact Analysis By Products (Kits & Reagents, Systems & Accessories, and Services), By Application (Vaccines and Therapeutics, Stem Cell Products, Blood and Blood Products, Tissue/ Tissue Products, Cellular and Gene Therapy), By End-user (Pharmaceutical and Biotechnology Companies, CROs, Academic and Research Institutes, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The kits & reagents segment is anticipated to hold the greatest share of the global viral inactivation market during the projected timeframe.
Based on product, the global viral inactivation market is divided into kits & reagents, systems & accessories, and services. Among these, the kits & reagents segment is anticipated to hold the greatest share of the global viral inactivation market during the projected timeframe. The increased development efforts and new products appearing by businesses have helped the kits and reagents in the sector.
The vaccines and therapeutics segment is anticipated to hold the largest share of the global viral inactivation market during the projected timeframe.
Based on application, the global viral inactivation market is divided into vaccines and therapeutics, stem cell products, blood and blood products, tissue/ tissue products, and cellular and gene therapy. Among these, the vaccines and therapeutics segment is anticipated to hold the largest share of the global viral inactivation market during the projected timeframe. The increasing incidence of cancer and other chronic diseases has increased the need for inactivated vaccines, which will drive market growth.
The pharmaceutical and biotechnology companies segment is predicted to hold the greatest share of the global viral inactivation market during the estimated period.
Based on end users, the global viral inactivation market is divided into pharmaceutical and biotechnology companies, CROs, academic and research institutes, and others. Among these, the pharmaceutical and biotechnology companies segment is predicted to hold the greatest share of the global viral inactivation market during the estimated period. The development of the pharmaceutical and biopharmaceutical industries helped fund searching for alternative therapies, which increased the production of novel drugs.
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North America is expected to hold the largest share of the global viral inactivation market over the forecast period.
North America is expected to hold the largest share of the global viral inactivation market over the forecast period. This growth is explained by the sophisticated infrastructure, the existence of large biotech and pharmaceutical companies, large R&D expenditures, and healthcare spending by both the government and businesses.
Asia Pacific is predicted to grow at the fastest pace in the global viral inactivation market during the projected timeframe. To improve public health services and increase access to cutting-edge therapies, governments and the corporate sector in Asia Pacific are significantly increasing their spending on healthcare.
Europe is expected to hold a significant share of the global viral inactivation market over the forecast period. To make viruses inactive by causing damage to their genome and causing disruptions to their viral proteins, the University of Technology Sydney conducted research in conjunction with participants in Germany.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global viral inactivation market include Charles River Laboratories, Inc., Clean Cells, Merck KGaA, Mettler Toledo, Parker Hannifin Corp, Rad Source Technologies Inc., Sartorius AG, Texcell SA, Vironova AB, Danaher Corporation, Thermo Fisher Scientific, Bio-Rad Laboratories, GE Healthcare, and Others.
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Recent Developments
- In June 2023, the opening of a testing facility in North America was announced by Texcell SA. This move should assist the business in improving the viral safety and biotherapeutic and medical device clearance processes.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global viral inactivation market based on the below-mentioned segments:
Global Viral Inactivation Market, By Product
- Kits and Reagents
- Systems & Accessories
- Services
Global Viral Inactivation Market, By Application
- Vaccines and Therapeutics
- Stem Cell Products
- Blood and Blood Products
- Tissue/ Tissue Products
- Cellular and Gene Therapy
Global Viral Inactivation Market, By End User
- Pharmaceutical and Biotechnology Companies
- CROs
- Academic and Research Institutes
- Others
Global Viral Inactivation Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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