Sarasota, FL -- (SBWire) -- 02/01/2019 --Zion Market Research has published a new report titled "Virus Filtration Market by Product (Kits and Reagents, Filtration Systems, Services, and Others), by Application (Biologicals, Vaccines and Therapeutics, Blood and Blood Products, Stem Cell Products, Medical Device, Air Purification and Water Purification, Tissue and Tissue Products, Cellular and Gene Therapy Products), and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Medical Device Companies) : Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, global virus filtration market was valued at approximately USD 2.31 billion in 2017 and is expected to reach around USD 4.93 billion by 2024, growing at a CAGR of 12.4% between 2018 and 2024.
Viral clearance is one of the important parts of the downstream process in the production of biopharmaceuticals. Viral contamination can occur through engineered cell lines, contaminated raw materials or media, and the manufacturing environment. The industry provides an array of filter systems and filter capsules to provide robust and fiscal solutions for virus removal according to the process requirements. Primary factors responsible for the growth of virus filtration market are the expanding pharmaceutical industry and launch of new recombinant therapeutics. However, high costs and stringent regulatory policies are restraining the growth of the global virus filtration systems market. On the other hand, untapped markets in developing countries and rapid technological advancements in virus filtration solutions are expected to offer lucrative opportunities during the forecast period.
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By product, the global virus filtration market is divided into filtration systems, services, kits & reagents, and others. Among these filtration systems segment was the highest revenue grosser in 2017. Virus filtration is a common unit operation in the manufacture of biological drugs. Many contract research organizations are actively collaborating with the leading biotechnology & biopharmaceutical companies for the clinical trials and development of novel drugs and therapies, which is also expected to offer lucrative opportunities in future that may augment the growth of the viral filtration market.
On the basis of application, the market is segmented into biologicals, vaccines and therapeutics, blood and blood products, stem cell products, medical device, air purification and water purification, tissue and tissue products, and cellular and gene therapy products. The growing trend of the pharmaceutical industry in the manufacturing of recombinant antibodies, biologics for immunotherapy, oncological drugs, and different biosimilars therapeutics is driving the growth of biologicals segment. The biologicals segment accounted for the maximum revenue share in 2017. Stem cell products and gene therapy products were the fastest growing application segment in the virus filtration market.
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The end users in the virus filtration market are pharmaceutical & biotechnology companies, contract research organizations, academic research institutes, and medical device companies. The pharmaceutical and biotechnological companies dominated the market and accounted the largest share in 2017. The bulky share of this segment is primarily credited to the prime factors such as growing need of virus retention in the product feed and the growing stringent regulatory policies for drug approvals. The contract research organization segment is expected to grow at the highest CAGR during the forecast period.
Based on the geography, the global virus filtration market is divided into five regions, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to remain the dominant region over the forecast period. Europe was the second largest market in terms of revenue generation followed by the Asia Pacific. The Asia Pacific was the fastest growing market with the highest year on year annual growth rate. Developing economies such as India and China are accelerating the growth of this region owing to rapidly developing biopharmaceutical infrastructure and heightened corporate investments in biosimilars market. The Middle East and Africa and Latin America are expected to experience moderate growth in the virus filtration market in the years to come.
Some of the key players in virus filtration market include Merck KGaA, Thermo Fisher Scientific Inc., Lonza Group Ltd., Pall Corporation, Charles River Laboratories International, Inc., Sartorius AG, Sigma-Aldrich Corporation, Asahi Kasei Medical Co., Ltd., WuXi PharmaTech Inc., and General Electric Company, among others.
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This report segments the global virus filtration market as follows:
Global Virus Filtration Market: Product Segment Analysis
Kits and Reagents
Filtration Systems
Other Products
Services
Global Virus Filtration Market: Application Segment Analysis
Biologicals
Vaccines and Therapeutics
Blood and Blood Products
Cellular and Gene Therapy Products
Tissue and Tissue Products
Stem Cell Products
Medical Device
Air Purification
Water Purification
Global Virus Filtration Market: End-user Segment Analysis
Pharmaceutical & Biotechnology Companies
Contract Research Organizations
Academic Research Institutes
Medical Device Companies
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Global Virus Filtration Market: Regional Segment Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Global Virus Filtration Market High Survival Rate: USD 4.93 Billion by 2024
Virus Filtration Market by Product (Kits and Reagents, Filtration Systems, Services, and Others), by Application (Biologicals, Vaccines and Therapeutics, Blood and Blood Products, Stem Cell Products, Medical Device, Air Purification and Water Purification, Tissue and Tissue Products, Cellular and Gene Therapy Products), and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Medical Device Companies) : Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024