New York, November 18, 2021 – Reports and Data has published its latest report titled “Virus Filtration Market Size, Share And Industry Analysis By Product Type (Consumables, Instruments, Services), By Application (Water Purification, Biologicals, Air Purification, Medical Devices), By End-user (Biopharmaceutical & biotechnology companies, Medical devices companies, CROs, Academic institutes & research laboratories) And Region, Segment Forecasts To 2027”
Increasing research activities in biotechnology industry, rising prevalence of chronic diseases, and development of biologics are some key factors driving market growth
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According to Reports and Data, the global virus filtration market size is expected to reach USD 4.11 Billion in 2027 from USD 1.57 Billion in 2019 and is expected to register a revenue CAGR of 12.7% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities
Virus filtration is an effective virus clearance technology that assure the viral safety of biopharmaceutical products, even under challenging process conditions. These filters are widely used in biotechnology industries to ensure virological safety of biological therapeutics. These filtration is a regarded as a reliable method for removing viruses that is essentially unaffected by process conditions. Therefore, increasing awareness regarding the benefits of virus filtration is expected to positively impact revenue growth of the market.
Growing demand for therapeutic biologics for the treatment of chronic diseases, increasing demand of efficient virus clearance technology in pharmaceutical and biotechnology industry and rising government initiatives to develop effective drugs are some factors contributing to the revenue growth of the market. Further, the current SARS outbreak, H1N1 influenza outbreak, and anthrax attacks in 2001 has led to increased government expenditure in research activities into these viruses, and in turn surge demand for virus filtration technology. However, high cost of research and development activities, and unfavorable government regulations are some factors expected to restrain market revenue growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Biologics Segment to Dominate Other End-Users Segment:
Biologics segment is expected to dominate other application segment over the forecast period due to increasing number of patients suffering from chronic diseases such as diabetes and cancer. This factor, in turn, has led to increase in government initiatives towards drug development in biopharmaceutical and biotechnology companies globally.
North America to Account for a Significantly Larger Revenue Share:
North America is expected to account for a significantly large revenue share over the forecast period owing to increasing demand for advanced viral clearance products and high incidence rate of chronic conditions. Further, improved healthcare facilities and continuous advancement in biotechnology are some factors driving market growth in the countries in the region.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributed to increasing number of CROs, government initiatives to develop healthcare care infrastructure, and favorable government policies on drug development. In addition, increase in research and biologics development and rapid growth of biopharmaceutical industry in emerging economies such as China and India, drive revenue growth of the APAC market.
Major Companies in the Market Include:
- Merck KGaA
- Thermo Fisher Scientific Inc.
- Sartorius AG
- Charles River Laboratories International, Inc.
- GE Healthcare
- Asahi Kasei Medical Co., Ltd.
- Lonza Group Ltd
- WuXi PharmaTech Inc
- Clean Cells Inc.
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For the purpose of this report, Reports and Data has segmented the global virus filtration market on the basis of product type, application, end-user and region:
Product Type Outlook (Revenue in Billion USD; 2017-2027)
Application Outlook (Revenue in Billion USD; 2017-2027)
- Water Purification
- Air Purification
- Medical Devices
End-User Outlook (Revenue in Billion USD; 2017-2027)
- Biopharmaceutical & biotechnology companies
- Medical devices companies
- Academic institutes & research laboratories
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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