Newark, New Castle, USA, May 02, 2023 (GLOBE NEWSWIRE) -- The global virus filtration market, estimated at US$ 10.32 billion in 2022, is projected to surpass US$ 23.94 billion by 2031, at a revenue CAGR of 9.80%, as per the latest study by Growth Plus Reports. The study analyzes impactful strategies, macroeconomic conditions, trends, opportunities, competition, market dynamics, market size, data and projections, and key investment areas.
Key Takeaways:
- The increasing prevalence of cancer, diabetes, and other chronic diseases will drive the demand for virus filtration during the forecast period.
- Increasing the use of single-use technology will encourage market revenue growth.
- North America will dominate the global market.
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Virus Filtration Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 10.32 Billion |
| Market Size Value in 2031 | US$ 23.94 Billion |
| Growth Rate | CAGR of 9.8% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Product, Technology Application, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Market Drivers
The increasing use of single-use technology, viral contamination of therapies, increasing R&D investment, and government support are the primary factors driving the revenue growth of the global virus filtration market. Additionally, the increasing prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders contribute to market revenue growth. Furthermore, growing use of plasma processing in clinical research, technological advances in the virus-filtering sector, and increased usage of mammalian cell lines in the production of mAbs support the market's revenue growth.
Market Segmentation
Growth Plus Reports has analyzed the global virus filtration market from five perspectives: Product, Technology Application, End User, and Region.
Product Segmentation: Based on the product, the virus filtration market is segmented into consumables, instruments, and services. The consumables segment dominates the market because these products are most commonly used for viral filtration.
Technology Segmentation: Based on the technology, the virus filtration market is segmented into filtration and chromatography. The filtration segment dominates the market with the largest revenue share because increasing the use of these products in research, medical device manufacturing, and biologics production.
Application Segmentation: Based on the application, the virus filtration market is segmented into biologicals, stem cell products, medical devices, water purification, and air purification. The biological segment dominates the market because the increasing prevalence of chronic diseases that need the use of biologics for treatment.
End User Segmentation: Based on the end user, the global virus filtration market is segmented into biopharmaceuticals and biotechnology, contract research organization, medical devices company, and academic institutes and research laboratories. The biopharmaceuticals and biotechnology segment dominates the market because of the increasing R&D activities, biologics output, and biopharmaceutical industry expansion.
Regional Growth Dynamics
Based on the region, the global virus filtration market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates the virus filtration market with the largest revenue share. The considerable revenue share of North America in the virus filtration market can be attributed to the rising need for enhanced viral clearance products for research & development and biologics production.
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Competitive Landscape
The top companies in the global virus filtration market:
- Merck KGaA
- Asahi Kasei Corporation
- BioProcess International
- Sartorius AG
- General Electric
- Thermo Fisher Scientific, Inc.
- General Electric Company
- PendoTECH
- Lonza
- Charles River Laboratories
- Sotera Health
- WuXi AppTec.
The market for virus filtration is highly competitive. Market leaders develop and launch new products and form strategic alliances and partnerships to fulfill the growing demand and maintain a strong market position.
Recent developments:
- SenzaGen extended and expanded its global partnership agreement with Charles River Laboratories, one of the world's leading providers of laboratory services, in January 2021. The agreement was expanded to include all tests available in the GARD portfolio in order to meet the growing demand for chemical risk assessment using SenzaGen's non-animal test platform GARD.
- Lonza announced a partnership with Moderna, a biotechnology company that generated the first messenger RNA vaccines and therapeutics, in June 2021. The expanded partnership will enable to produce additional COVID-19 Vaccine Moderna pharmaceutical substances. A new production line for synthesizing drug compounds will be made accessible at Lonza's Geleen plant.
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- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
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