As per Market Industry Reports (MIR) research findings, rising investments in RandD, growing incidence rate of chronic disorders and increasing number of biotechnology and biopharmaceutical industries are set to open new avenues for stakeholders in virus filtration market.
The global virus filtration market is a structured market and is largely governed by prominent players such as Cutera, Inc, Cynosure (Hologic Inc.), Alma Lasers, Ltd. (Fosun Pharmaceutical Co., Ltd.), SharpLight Technologies Inc, Aerolase Corp., Syneron Medical Ltd., Sciton, Inc., Solta Medical, Inc., Lumenis Ltd and El.En. S.P.Aamong others.
The global virus filtration market is anticipated to grow at a significant rate during the forecast period. Several factors can be attributed to the growth of the market, such as, increasing funding and investments both by private and government establishments in RandD, increasing focus on laboratory safety standards, and rising adoption of biotherapeutics among others. However, existence of stringent guidelines by several regulatory bodies globally are likely to restrain the market to a certain extent.
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Continually increasing number of biotechnology and biopharmaceutical industries is considered to be one of the crucial factors responsible for the growth of the global virus filtration market. Rising incidence rate of communicable diseases has raised the global demand for virus filtration products across these industries to manufacture contamination free products. Moreover, encouraging government regulations, increasing funding in RandD, and availability of cheap labor have been vital for the growth of these industries in emerging economies such as Asia Pacific.
“Virus filtration, is considered to be an effective and robust technology for clearance of virus. Virus filtration products find significant application in common unit operation for manufacturing of biologicals.” said Nisha, Analyst, Healthcare at MIR.
From a regional perspective, Asia-Pacific is expected to witness the highest CAGR in the coming years due to rapid growth in the industrial sector, availability of cheap labor, and favorable trade labors among others. North America commands the largest share of the global virus filtration market. The large share of this market segment can be attributed to the presence of key players in this region, better awareness regarding biotherapeutics, and high investments in RandD projects by private and government bodies.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Virus Filtration Market 2030 by Product Type, Application & End User | Syneron Medical Ltd., Sciton, Inc., Solta Medical, Inc., Lumenis Ltd and El.En. S.P.