Kenneth Research recently added a report on ‘Viral Inactivation Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Viral Inactivation Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Viral Inactivation Market products.
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The global virus inactivation market is estimated to be valued at ~USD 500 million in 2021 and is expected to grow at a compound annual growth rate of 13% during the forecast period 2022-2030. The increase in the number of global pharmaceutical and biopharmaceutical companies, the increase in investment in the life sciences, the increase in the number of drug listings and approvals, and the increase in government funding for industrial development are the main factors driving market growth.
The global increase in the number of chronic diseases (such as cancer, diabetes, autoimmune diseases and other diseases) has led to an increase in health expenditures. The main need to increase health expenditures is to design and develop new and improved therapies to cope with the increase in these diseases. The increase in R&D innovation, drug discovery, and FDA approvals that have led to the commercialization of new drugs are driving market growth.
In recent years, a large number of companies and other government agencies have invested heavily in the development of life sciences. This has led to a general increase in the number of new therapies and alternative therapies to treat diseases, such as stem cell therapies and cell and gene therapies. Virus inactivation is an essential and critical process in the production of these products to prevent contamination and prevent any deaths after human consumption.
Virus inactivation is an important part of the virus elimination process and is essential for any drug development process. Regulatory agencies such as the FDA have increased the need for virus inactivation in a variety of applications, including cell and gene therapy, vaccines, treatments, tissue and tissue products, stem cell products, and blood and blood products. This provides conditions for the further growth of the market.
According to different products, the market is divided into kits and reagents, systems and services. Due to the continuous use of pharmaceutical and biopharmaceutical companies, kits and reagents occupy the largest market share in the market. Due to the management convenience and professional services provided by the service provider company, the service is expected to grow at the highest rate.
With the increase in the number of pharmaceutical and biopharmaceutical companies and the increase in investment in research and development of new drugs, the use of kits and reagents has increased significantly. Therefore, due to the increasing use of consumables, kits and reagents in various end-use environments, it is the largest market segment relative to products on the market.
A wide range of instruments helps the virus inactivation process. For example, FlexAct VI developed by Sartorius AG is a single-use technology that can inactivate viruses at low pH. The equipment is designed to solve the problem of production capacity and is suitable for adjusting characteristics such as pH, pressure, temperature, pump speed and liquid level.
For pharmaceutical companies that need to sterilize the medium before the product is completed, virus inactivation is a crucial process. Therefore, many contract research organizations (CROs) offer a wide range of methods as services. All safety and quality standards are maintained in such facilities as they provide effective virus inactivation and planning for additional steps in the drug development process.
According to application, the virus inactivation market is segmented into vaccines and therapies, stem cell products, blood and blood tissue products, tissues and tissue products, and gene and cell therapy products. Due to the growth of biologics production and the government’s increased funding to promote the use of biologics to treat diseases, vaccines and therapies are expected to grow at the fastest rate. Increasing R&D innovation in stem cell research and various other applications such as cell and gene therapy has also made a significant contribution to the growth of the market.
Stem cell products are obtained from donors, and the risk of contamination is high due to the need for close monitoring of virus inactivation. Stem cell research is developing rapidly in developed countries such as the United States and other European countries. This growth has greatly contributed to the growth of the sector. The main purpose of stem cell research is to gain a deeper understanding of human health and discover new ways to treat diseases.
As the number of transplant operations worldwide increases, so do tissues and tissue products. Because the risk of virus contamination from donors is very high, it is very necessary to inactivate these products. In most cases, in these cases, solvent detergents are the preferred virus inactivation option. Low pH is another method used to inactivate viruses in blood tissues and tissue products.
In most cases, the sources of vaccines and therapies are mammalian cell cultures, bacteria, insect cell cultures, plant cell cultures, mouse, human, avian cell cultures, and yeast (in some cases). In these cases, virus inactivation is an integral part of the safety and assessment process to make the intended product safe for human use. Therefore, due to the continuous use of virus inactivation products in cell and gene therapy, stem cell products, and tissue and tissue products, the market for virus inactivation has grown significantly.
END USE INFORMATION:
According to the end-use, the virus inactivation industry is divided into pharmaceutical and biopharmaceutical companies, CROs, academic and research institutions, etc. Others include medical device companies, laboratories and blood banks.
Due to the increasing use of these products for drug development and manufacturing, pharmaceutical and biopharmaceutical companies account for the largest share. CRO provides personalized services and efficient management for the entire virus inactivation process.
Therefore, they are expected to gain a considerable share during the forecast period. In the past few decades, the growth of pharmaceutical and biopharmaceutical companies has been tremendous. The increase in investment in finding alternative therapies has increased the number of new drugs. With the introduction of biologics and other gene and cell therapy products, the use of virus inactivation products in pharmaceutical and biopharmaceutical companies has increased.
Strict regulatory requirements for therapeutic agents ensure the safety of the product for human use. Biopharmaceutical companies often use solvent detergents, low pH, pasteurization, and other methods to ensure product safety. The company uses disposable systems or bioreactors to perform these procedures and inactivate viruses. ORO provides outsourcing services to assist pharmaceutical and biopharmaceutical companies in the virus inactivation process. Because they provide specific services based on customer needs, they are more popular than internal process management systems. Simplified processes, easy management, and personalized services are some of the main reasons for the growth of CRO.
INFORMATION ON THE MARKET SHARE OF VIRUS INACTIVATION:
Some of the major players in the market are Sartorius AG, Merck KGaA, Parker Hannifin, Rad Source Technologies, Clean Cells, WuXi PharmaTech (Cayman) Inc. and Danaher. The market is highly fragmented, with many large, small and medium players. These leading companies face competition from local companies. Most players focus on the development of new products. There are frequent mergers and acquisitions in the market and a high degree of market integration. For example, in August 2015, Danaher Corporation completed the acquisition of Pall Corporation, a leading supplier of virus removal products.
MARKET SEGMENT COVERED BY THE REPORT :
The report forecasts revenue growth at the global, regional, and country levels, and provides an analysis of industry trends for each sub-segment from 2022-2030. In this study, KenenthResearch has segmented the inactivation market in terms of products, applications, end-uses, and regions: product outlook (revenue, millions of dollars, 2022-2030), reagent kit and reagent system service application outlook (revenue , USD million, 2022-2030) Vaccines and therapy stem cell products blood and blood products tissue/tissue products Cell and gene therapy end-use prospects (revenue, USD million, 2022-2030) Pharmaceutical and biotechnology company CRC Institute Academic and Research other
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