Viral Inactivation Market

SKU: DMHCIT3085 | Last Updated On: Oct 19 2022 | Available Formats

> Viral Inactivation Market Expected to reach a high CAGR of 11.0% By 2029: DataM Intelligence

Viral Inactivation Market is segmented By Method (Solvent Detergent Method, Pasteurization, Others), By Product (Kits and Reagents, Services, Viral Inactivation Systems and Accessories), By Application (Vaccines and Therapeutics, Blood and Blood Products, Cellular and Gene Therapy Products, Tissues and Tissue Products, Stem Cell Products), By End-Users (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

[170 Pages Report] Viral Inactivation Market is expected to grow at a high CAGR of 11.0% during the forecasting period (2022-2029).

Viral Inactivation Market - Strategic Insights

Metrics

Details

CAGR

11.0%

Segments Covered

By Method, By Product, By Application, By End-Users, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Regions Analyzed

North America, Latin America, Europe, Middle East, Africa, Asia Pacific, and the Rest of the world.

Major Companies Covered

Abbott Laboratories, EKF Diagnostics Holdings plc, BioMérieux SA, Atlas Medical, Quidel Corporation, BIOSYNEX SA, Prestige Brands Holdings, Swiss Precision Diagnostics (SPD) GmbH, Piramal Enterprises, NG BIOTECH SAS, and among the major companies listed in the final report.

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Viral inactivation is the first of the committed steps intended to improve the safety of biotherapeutic products. Viral inactivation testing is essential by regulatory authorities for investigational new drug (IND) submission. It is critical in process development for biologicals, including stem cell products, tissue and tissue products, blood and blood products, cellular and gene therapy products, and vaccine and therapeutics. The key drivers for the market are rapid growth in the pharmaceutical and biotechnology industries and the robust trend of R&D investments in the life sciences industry. Increasing chronic disease burden, rising number of new drug launches, and increasing government support for the pharmaceutical and biotechnology industries will propel the growth of this market.

Market Dynamics:

Rising R&D investments in the life sciences industry drives viral inactivation market.

Investors have a keen interest in the life sciences industry and, therefore, raise their investments in the life science industry. This interest has increased with the rising development of a vaccine and R&D in enhancing effective treatment solutions for COVID-19, including other medical breakthroughs. It is expected to create increased demand for solutions used in the life science industry, including viral inactivation products and services.

Moreover, the large economic burden of chronic diseases drives the market growth in the forecast period. Chronic diseases have substantial health and economic costs in the United States. The economic burden of chronic diseases is continuously increasing globally, especially in low and middle-income economies, which lack developed healthcare infrastructure. With the rising economic burden of chronic diseases, the demand for viral inactivation will increase during the forecast period.

Market Segmentation:

Vaccines and therapeutics segment will project the fastest growth in the market throughout the forecast period

Based on the application, the viral inactivation market has been classified into blood & blood products, cellular & gene therapy products, stem cell products, tissue & tissue products, and vaccines and therapeutics.

Vaccines and therapeutics are expected to project the fastest rate in the global market due to the rise in biologics production and an increase in government funding, majorly for the promotion of biologics in the treatment of various chronic diseases. Moreover, the increasing R&D innovation in several applications, such as stem cell research and cellular & gene therapy, has contributed substantially to the market's growth.

Based on the product, the viral inactivation market has been classified into kits, reagents, services, and viral inactivation systems and accessories.

The kits and reagents segment held significant market share in the global viral inactivation market in 2022. This dominance is attributed to the continuous usage of viral activation by pharmaceutical and biopharmaceutical companies. A wide range of kits and reagents are used in the process of viral activation. Therefore, owing to the increasing utilization of kits, consumables, and reagents in various end-use industries, the kits and reagents are the majorly used products in the viral activation market.

Geographical Penetration:

North America is the dominating region during the forecast period.

Based on geography, the study analyzes the viral inactivation market in the global market, including North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.

North America dominates the global viral inactivation market with the largest share in terms of value and volume globally, followed by Europe. The US dominated the North America viral inactivation market in 2019. The adoption of advanced technologies by the pharmaceutical industry, well-developed healthcare infrastructure, and the rising number of drug approvals are certain factors that are driving the growth of the market during the forecast period.

Asia Pacific is expected to project a considerable CAGR in the market during the forecast period. The expansion of healthcare giants in rapidly emerging markets, such as China, India, and others. These multinational companies are significantly investing in the healthcare sector in the Asia Pacific region.

Competitive Landscape:

The viral inactivation market is highly competitive, owing to the large presence of viral inactivation brands. The key viral inactivation players include Charles River Laboratories International, Inc., Clean Cells Inc., Danaher Corporation, Cerus Corporation, Parker Hannifin Corporation, Merck KGaA, Rad Source Technologies, Inc., Sartorius AG, SGS SA, and Wuxi Pharmatech (Cayman) Inc. The crucial players are adopting new product launches and expansion strategies for global growth in the viral inactivation market. In March 2021, Charles River laboratories completed the acquisition of cognate BioServices, a premier cell and gene therapy contract development and manufacturing organization (CDMO) that offers comprehensive manufacturing solutions for cell therapies for approximately $875 million. This acquisition helps increase the company's revenue and accelerate its cell and gene therapy programs from non-clinical development through commercialization. In June 2021, Danaher Corporation announced that they have the agreement to acquire Aldevron for the purchase price of $9.6 billion. Privately held company Aldevron joined Danaher's Life Sciences segment. This acquisition helps to expand capabilities into the important field of genomic medicine. In May 2022, Cerus Corporation announced 10 years of new manufacturing and supply agreements with Fresenius Kabi for Intercept Blood System Sets. This agreement will support the growing global demand for the intercept blood system and help expand patient access to pathogen-reduced blood components.

COVID-19 Impact:

Positive impact on the global viral inactivation market.

COVID-19 has significantly impacted the market value of the viral inactivation market globally. Pharmaceutical companies are working on better drugs and vaccines. Most pharmaceutical companies are undergoing several trials with these drugs; Food and Drug Association has imposed strict regulations on these companies to undergo this process of viral inactivation, which is one of the reasons to boost the market during the pandemic. The demand for viral inactivation has increased with the rising inactivation of the virus of COVID-19, severe acute respiratory syndrome. Therefore, considerable growth was estimated in the viral inactivation market in 2020.

The global viral inactivation market report would provide an access to approximately 83 market data tables, 68 figures and 170 pages.

FAQ

What is the Viral Inactivation Market growth?

The market is growing at a CAGR of 11%.

What is Viral Inactivation Market size in 2021

The Viral Inactivation Market size was valued at USD YY million in 2021.

Who are the key players in Viral Inactivation Market?

Clean Cells Inc., Danaher Corporation, Cerus Corporation, Parker Hannifin Corporation, Merck KGaA, Rad Source Technologies, Inc., Sartorius AG, SGS SA.

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