Application – Segment Analysis
Based on the Application, Viral Inactivation Market is segmented into Vaccines & Therapeutics, Blood & Blood Products, Cellular & Gene Therapy Products, Tissues & Tissue Products, Stem Cell Products, and Others. Vaccines & Therapeutics segment is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 9.3% during the forecast period 2020-2025. This is mainly owing to growth in biologics production and increase in government funding for the promotion of usage of biologics to treat disease. Moreover, Therapeutic vaccines represent a viable option for active immunotherapy of cancers that aim to treat late stage disease by using a patient’s own immune system that are contributing the growth of this segment.
End-Use – Segment Analysis
Based on the End-Use, Viral Inactivation Market is segmented into Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Others. In 2019, pharmaceutical & biotechnology companies held the largest share in the viral inactivation market. This is mainly owing to increased usage of these products for the purpose of drug development and drug manufacturing that are contributing to the growth of this segment.
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Geography – Segment Analysis
North America dominated the viral inactivation market share accounting for 42% of the market in 2019. This is mainly owing to advanced healthcare infrastructure, advanced instruments and technologies and increasing healthcare expenditure. According to U.S. Food and Drug Association, vital inactivation has been made mandatory step for investigation of new drugs in the view of safety concerns that are contributing the growth of this market.
However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to the growth in healthcare infrastructure and rising awareness among people about disease.
Drivers – Viral Inactivation Market
- Increasing number of chronic diseases
Increasing number of chronic diseases such as cancer, diabetes, autoimmune disorders, and other diseases awareness among patients are some factors driving the growth of viral inactivation market. Moreover, increase investment in the life science sector and increase in R&D innovation are also set to increase the market growth.
- Technological Advancements
Technological Advancements, increasing drug launches & approval and increasing healthcare expenditure are some factors driving the growth of the market. Moreover, technological evolution in the medical industry increasing the demand for viral inactivation process and developing new & enhanced therapies to tackle the rise in many diseases and increasing drug discoveries further contributing the growth of viral inactivation market.
Challenges – Viral Inactivation Market
Highly expensive manufacturing process of biosimilars are challenging the growth of the market. Moreover, some problems associated with the virus inactivation process such as virus aggregate formulation, protein crosslinking and protein denaturation and degradation are further restraining its market growth during the forecast period 2020-2025.
Viral Inactivation Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Viral Inactivation Market. Viral Inactivation top 10 companies are Merck KGaA, Danaher corporation, Sartorius AG, Charles River, SGS SA, PARKER HANNIFIN CORP, Clean Cells, Rad Source Technologies, Texcell and WuXi AppTec.
- On 27 September 2019, Merck KGaA has acquisition with Pfizer Inc. and launches new drug BAVENCIO for the removal of virus and also helps to treat many diseases such as cancers including, renal cell carcinoma, metastatic and many more.
- On 1 March 2019, Clean Cells has acquisition with NAOBiOS for the development of viral vaccines and used for the treatment of many diseases.
- In 2019, North America dominates the viral inactivation market owing to advanced healthcare infrastructure, advanced instruments and technologies and increasing healthcare expenditure.
- Increasing number of chronic diseases and technological advancement is driving the market growth of viral inactivation.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the viral inactivation market report.
- Highly expensive manufacturing process of biosimilars are challenging the growth of the market.
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