The COVID-19 Pandemic Has Opened a Lot of Opportunities for Virus Filtration System Manufacturers; Product Innovation & Advancement Will Boost Market Growth Even More Going Ahead
Seoul, South Korea, Aug. 12, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global virus filtration market is set to enjoy a valuation of US$ 4 billion in 2022 and further expand at a noteworthy CAGR of 13% through 2026.
Due to the rising frequency of diseases such as cancer, diabetes, contagious infections (especially COVID-19), and autoimmune disorders, the market size for virus filtering is expected to expand tremendously between 2022 and 2026.
WHO estimates that cancer was responsible for roughly 10 million deaths worldwide in 2020. Furthermore, in low- and lower-middle-income nations, cancer-causing diseases such as hepatitis and human papillomavirus (HPV) contribute to roughly 30% of cancer incidence.
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A membrane barrier is used in virus filtration to keep virus particles in place as a primary line of defense against invasive viruses. Due to the crucial function that virus filtering will play in ensuring the safety of biopharmaceutical medicinal products, pharmaceutical corporations have increased their efforts in this area. As they continue to invest in new technologies, it is anticipated that North America and Europe will be two of the biggest markets.
Accelerating growth in demand for biopharmaceutical goods is a crucial factor driving the worldwide viral filtration market. Continued use of these products has depended on bio therapeutics having the high efficacy and minimal side effects required to treat diseases and ailments, rather than only their symptoms.
Furthermore, it is anticipated that, over the next 4 years, rapid technological innovation and increased single-use technology will fuel market expansion.
Which Virus Filtration Product Enjoys High Demand?
“Kits & Reagents Driving Virus Filtration Market Growth Due to Improved Virus Detection Aspect”
The kits & reagents segment is expected to expand at an impressive CAGR of 15% from 2022-2026. In the viral filtration industry, kits & reagents are a very significant segment.
The reagents aid in lowering the chance of iatrogenic viral transmission. The reagents aid in determining the virus that is most likely to infect the cell substrate or any other reagents or components employed in the procedure when evaluating the process.
Two of the well-known manufacturers of reagents and kits for virus filtration are Qiagen and Merck Millipore. Blood, plasma, serum, bodily fluids, any monoclonal antibody, and recombinant proteins are examples of samples utilized in the manufacturing of biopharmaceuticals.
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Key Segments Covered in the Virus Filtration Industry Survey
According to the competitive environment in the global viral filtration market, key industry players are likely to prioritize both, organic and inorganic tactics, such as product launches, mergers and acquisitions, R&D initiatives, and innovations.
BioProcess International, General Electric, WuXi AppTec, Synder Filtration, Inc., Asahi Kasei Medical Co., Ltd., Danaher, Sotera Health, BIA Separations, Sartorius AG, Lonza, and Merck KGaA are a few of the top businesses in the market.
To co-develop and co-commercialize the therapeutic candidate Bintrafusp alfa, Merck and a subsidiary of GSK agreed on a global partnership in the field of immuno-oncology in February 2019.
Merck and Artios Pharma Limited announced their collaborative agreement to find and develop multiple-precision oncology treatments, in 2020.
SenzaGen and Charles River Laboratories, one of the top providers of laboratory services globally, renewed and expanded their global partnership agreement in January 2021. The agreement was expanded to include all tests in the GARD portfolio to fulfil the rising demand for risk assessment of chemicals utilizing SenzaGen's non-animal test platform GARD.
Lonza and Moderna, a biotechnology business that invented messenger RNA treatments and vaccines, announced their partnership in June 2021. The extended agreement will allow for more COVID-19 Vaccine Moderna medicinal substance manufacturing. At Lonza's Geleen facility, a new manufacturing line for the synthesis of drug substances will be made available.
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Key players in the Virus Filtration Market
Asahi Kasei Medical Co., Ltd.
Key Takeaways from Virus Filtration Market Study
North America holds a leading position in the virus filtration market due to the presence of key players and advanced healthcare infrastructure.
The global market for virus filtration systems is currently valued at US$ 4 billion.
Demand for virus filtration devices is expected to expand at a CAGR of 13% from 2022 to 2026.
The kits & reagents segment is expected to expand at an impressive CAGR of 15% from 2022-2026
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