Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Virus Filtration Market (By Product Type: Virus Filters & Filtration Systems, Kits & Reagents, Services; By Application: Biological [Blood & Blood Products, Tissue & Tissue Products, Vaccines & Therapeutics, Cellular & Gene Therapy Products, Stem Cell Products], Medical Devices, Water Purification, Air Purification; By End-user: Pharmaceutical and Biotechnology Companies, Contract Research Organization, Medical Devices Companies) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, April 16, 2019 (GLOBE NEWSWIRE) -- The virus filtration market to grow at a noteworthy CAGR of around 12.2% during the period from 2018 to 2026. Some of the major factors behind these projections include the increased number of chronic diseases such as cancer, malaria, and diabetes.
Virus filtration process is mainly carried out in labs and biotechnology & pharmaceutical industries in order to keep the environment pathogen free. Presence of pathogen such as bacteria, virus, and microbe’s leads to the contamination of water, air, and biotheraputics, and thereby making the workplace unfit for employees to work in. Virus filtration process ensures that the products manufactures are of high safety standard.
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Virus filtration market is majorly driven by the rise in the chronic diseases such as cancer, malaria, and diabetes globally. In addition, the increase in virus caused therapeutics infection also boosts the market for virus filtration. Moreover, the rise in government initiative towards the safety of work place and manufactured products coupled with rise in R&D expenditure by laboratories supports the growth of virus filtration market globally. However, the market growth for virus filtration is likely to be hampered due severe regulations regarding product filtration. Nevertheless, the manufacturers of virus filtration have huge growth opportunities during the forecast period owing to the rise in awareness regarding the chronic diseases especially in emerging economies such as Asia Pacific and Latin America.
Virus filtration market has been segmented based on product type, application, and end-user. Virus filters & filtration systems, kits and reagents, and services are segmentation for global virus flirtation market based on product type. Based on application the market has been divided as biological, medical devices, water purification and air purification. Blood & blood products, tissue & tissue products, vaccines & therapeutics, cellular & gene therapy products, and stem cell products are the sub-segments of biological segment. Pharmaceutical & biotechnology companies, medical devices companies, research institutes and contract research organizations are the various end-users of global virus filtration market.
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Asia Pacific to be the most attractive market for virus filtration during the forecast period
The report focuses on the regional markets including North America, Europe, Asia-Pacific, and Rest of the World. Among these markets, North America was the largest market for virus filtration in 2013 mainly due to the presence of key manufacturers in the region. Advancement in filtration technology, increasing acceptance of biopharmaceuticals, coupled with rise in R&D expenses by key players supports the growth of virus filtration market in Europe.
Asia Pacific is anticipated to be the most attractive market for virus filtration market during the forecast period owing to the rising awareness regarding the spread of chronic diseases such as diabetes, cancer, and malaria caused by virus infection. In addition, the region is anticipated to be a lucrative revenue pocket owing to the favorable government initiatives and cheap labor cost.
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Pharmaceutical & Biotechnology Companies led the virus filtration market
Based on end-user, the global virus filtration market has been segmented into pharmaceutical & biotechnology companies, medical devices companies, research institutes and contract research organizations. The pharmaceutical & biotechnology companies accounted for the maximum share of virus filtration market in 2013 owing to the large number of pharmaceutical & biotechnology globally.
Some of the key players profiled in the report include Lonza, Danaher, WuXi PharmaTech (Cayman) Inc., Merck KGaA, General Electric, Charles River Laboratories International, Inc., Sartorius AG, Thermo Fisher Scientific Inc., Sigma-Aldrich Corporation, and Asahi Kasei Medical Co., Ltd. Most of the key players have adopted the strategy such as merger & acquisition, new product launch, and expansion in order to have a strong foothold in the market.
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