Global Viral Inactivation Market: Snapshot
A popular strategy with savvy players in
the global market for viral inactivation trying to bolster their
positions is the thrust on acquisitions. Besides, they are also
investing heavily in research and development to come up with new
products in response to various requirements for treating diseases. A
dominant players in the market, namely Merck & Co., Inc., is seen to
have a stronghold across nations worldwide.
At the forefront of driving growth in the
global market for viral inactivation is the rising approvals of new
drugs, rules pertaining to viral safety of biologics, and the
proliferation of the biologics and biosimilars industry. Besides, the
growing instances of various infectious diseases and growing application
of biosimilars therapeutic treatment for a range of diseases are also
positively impacting the market.
Proving counterproductive to the market,
on the downside, is the high costs involved in developing and
manufacturing biologics and biosimilars products and also the high price
of equipment for viral inactivation. However, new types of viruses
needing vaccinations to be developed against them spells new
opportunities for the market.
A report by Transparency Market Research
predicts the global viral inactivation market to expand at a healthy
7.4% CAGR from 2017 to 2025 to become worth US$5.736 bn by 2025 from
US$3.05 bn in 2016.
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Effectiveness of Chemical Method Drives it to Fore Vis-à-vis Market Share
Depending upon the type of method, the
global viral inactivation market can be divided segmented into chemical,
radiation, and others such as pasteurization and dry and moist heat
treatment. Of them, the chemical method leads the market with maximum
share as it is a robust and effective method of inactivation of
different types of viruses. It is also cost-effective, safe, and brings
about a high degree of purity of sample. The chemical method is further
sub-segmented into solvent detergent method, use of alkylating agent
method, and pH concentration method. The solvent detergent method, among
them, is projected to account for largest market share by the end of
2025.
In terms of growth rate, however, the
radiation method for viral inactivation is expected to outpace all
others on account of the rising adoption of the method in blood centers
in developed nations. The UV radiation method has been tested and
developed for viral inactivation of blood and blood components at blood
centers and at commercial manufacturing facilities.
Robust Biopharmaceutical Industry Makes North America Dominant Region
From a geographical standpoint, North
America currently holds a sway over the global market on account of a
robust biopharmaceutical industry, swift uptake of newer viral
inactivation methodologies, rising demand for blood and blood components
for transfusion therapy, and strict regulatory guidelines for the viral
safety of biologics products. By growing at a CAGR of 7.2% in the
forecast period, the market will likely become worth US$2.31 bn by 2025.
However, North America is slated to lose
some of its market share to Asia Pacific, which is predicted to expand
at maximum pace. The report by TMR projects the viral inactivation
market in the region to clock a CAGR of 7.9% from 2017 to 2025. The
region’s growth will be primarily powered by countries of South Korea,
Japan, and Australia which have strict rules in place for purity of
biologics and biosimilars products and also by China, India, and
Malaysia having a booming biopharmaceutical industry.
Some of the dominant players in the
global market for viral inactivation are Shandong Weigao Group Medical
Polymer Company Limited, Sartorius AG, Cerus Corporation, Macopharma SA,
and Terumo BCT, Inc.
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