New York, May 27, 2022 (GLOBE NEWSWIRE) -- According to a report by the World Health Organization, 41 million people die each year due to chronic non-communicable diseases, which is equivalent to 71% of all deaths globally. Amongst all chronic diseases, cardiovascular diseases account for 17.9 million deaths annually, followed by cancers - 9.3 million, respiratory diseases - 4.1 million, and diabetes which causes 1.5 million deaths. Moreover, as sourced from the U.S. Center for Disease Control and Prevention, 6 in every 10 adults in the US have a chronic disease.
Research Nester has published a detailed market report on ‘Global Viral Clearance Service Market’ for the forecast period, i.e., 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions, namely, North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
The global viral clearance service market is estimated to garner a significant revenue by growing at a CAGR of ~21% over the forecast period, i.e., 2022 – 2031. The market is estimated to grow on the back of increasing prevalence of chronic diseases, along with the growing demand for specialty drugs around the world. The growing cases of non-communicable diseases (NCD) are bound to raise the demand for viral clearance services. Moreover, the growing overall health expenditure across the globe is projected to boost the market growth. As per the World Bank data, in 2019, 9.84% of the GDP was spent for healthcare services across the globe. In addition to this, growing penetration of specialty drugs in the market globally, is estimated to encourage the market growth. In 2019, specialty drugs penetrated approximately 38% of the overall demand for generic drugs in the United States, whereas in the United Kingdom and Germany, penetration of specialty drugs was about 45% and 49% in the same year.
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The global viral clearance service market is segmented on the basis of end user into pharmaceutical & biotechnology companies, and CROs, out of which, the CROs segment is anticipated to witness notable growth in the market throughout the forecast period. This can be attributed to the higher investment capacity of contract research organizations (CROs) for extensive drug discovery infrastructure. Furthermore, integration of advanced techniques in healthcare sector, backed by rising investment in R&D activities, is projected to offer ample growth opportunities to the segment. According to the data by the World Bank, 2.2% of the GDP was spent for R&D activities in 2018.
Furthermore, on the basis of method, the market is segmented into viral removal, and viral inactivation, out of which, the viral removal segment is predicted to garner the largest share during the forecast period, owing to its higher speed, accuracy and flexibility. Moreover, growing incidences of viral diseases are further projected to boost the segment growth. For instance, the COVID-19 pandemic is one of the most recent pandemics caused by a virus (SARS-CoV-2), which caused 6,270,232 deaths, as of May 2022, as sourced from the World Health Organization.
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Regionally, the global viral clearance service market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the North America region is projected to garner the largest share during the forecast period owing to the high prevalence of chronic diseases, increasing number of drug approvals, and presence of major market players in the region. According to the data by the CDC, as of 2022, in the United States alone, 6 in 10 adults were suffering from a chronic disease, while 4 in every 10 Americans were suffering from two or more chronic diseases. Moreover, these diseases amount for about USD 3.8 trillion in annual healthcare costs in the US.
The market in the Asia Pacific region is also estimated to witness noteworthy growth in the market over the forecast period, on the back of the growing medical research activities, along with high prevalence of chronic diseases in the developing nations. According to the statistics by the WHO, more than 15 million people, between the ages of 30 and 69 years, die from chronic diseases, and 85% of these premature deaths occur in low- and middle-income countries. In addition, presence of a large number clinical research services, especially in China, is also expected to drive market growth in the coming years.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global viral clearance service market is also segmented on the basis of application.
Global Viral Clearance Service Market; Segmentation by Application
- Recombinant Proteins
- Blood
- Vaccines
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Some of the prominent players and their company profiling mentioned in the report include Merck KGaA, Sartorius AG, Syngene International Limited, Mérieux NutriSciences Corporation, Kedrion S.p.A, Lonza AG, SGS SA, Charles River Laboratories International Inc., Texcell Inc, and Labor Dr. Merk & Kollegen GmbH.
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