Kenneth Research recently added a report on ‘Virus Filtration 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 Virus Filtration 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 Analsysis 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) avergae 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 Virus Filtration Market products.
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The global virus filtration market in 2021 is estimated to be ~USD 3 billion and is anticipated to mark a CAGR of ~10% over the period 2022-2030. The increase in the prevalence of chronic diseases is one of the main factors contributing to growth. The increasing prevalence of chronic diseases such as cancer, diabetes and autoimmune diseases is expected to drive the demand for biologics. According to data from the International Agency for Research on Cancer, there were approximately 14.1 million newly diagnosed cancer cases worldwide in 2012, and this number is expected to reach 21.7 million by 2030. As a result, the demand for therapeutic biologics continues to grow, thereby driving demand. Virus filtering products for R&D and manufacturing applications.
Compliance with regulatory frameworks for drug development and production, such as current Good Manufacturing Practice (cGMP) regulations, is another major factor that is expected to drive market development. Materials, verification and implementation of effective virus elimination technology, and verification that the final product is free of virus contamination. Therefore, the demand for R&D and manufacturing practices of these products is very high.
CRO is working with biotechnology and biopharmaceutical companies to develop new drugs and therapies, which is also expected to support market growth. Service providers, including Charles River Laboratories International, Inc.; WuXi AppTec; and Lonza Group Ltd. provide virus removal services for pharmaceutical and biopharmaceutical companies. Therefore, the growth of the outsourcing industry is a profitable opportunity that can promote the growth of the virus filtration market. Compared with chemical drugs, the development of biological agents (such as biopharmaceuticals) is very complicated, expensive, and time-consuming.
Each biological drug is unique, and it is difficult to produce the same drug as the original drug. Even small deviations in protein structure may cause changes in the efficacy, quality, and safety of drugs. Therefore, filtration products, such as chromatography reagents and kits, must be used very carefully to avoid changes in protein structure or protein denaturation, which will have a negative impact on the demand for these products.
The consumables sector accounted for the majority of the virus filtering market in 2018. Due to the increased use of these products for virus filtering, profitable growth is expected during the forecast period. Increasing attention to the development of vaccines, protein therapies, blood products, cell therapy products, gene therapy products, tissue products and stem cell products is expected to drive demand for consumables, including reagents, kits and membranes.
Several leading suppliers, including Merck KGaA; Danaher; and Sartorius AG, provide a wide range of virus filtration reagents, kits and other consumables. For example, Merck offers a wide range of resins and media, such as Eshmuno A resin, ProSep Ultra Plus resin, ProSep-vA Ultra resin, ProSep-vA Ultra chromatography media, Eshmuno IEX chromatography resin and Fractogel ion exchange chromatography.
Due to the growing demand for biological therapies for the treatment of chronic diseases, this market segment is expected to show a significant compound annual growth rate during the forecast period. Biotechnology and biopharmaceutical manufacturers, such as F. Hoffmann-La Roche Ltd.; Pfizer; and Amgen, install advanced filtration and chromatography systems for the development and production of biological products.
The service sector is expected to show the highest compound annual growth rate during the study period. This is because biotechnology companies are increasingly outsourcing drug development and R&D services from CROs. In addition, CRO is collaborating with biotechnology and biopharmaceutical companies to develop new drugs and therapies, which are expected to support the growth of this segment.
INFORMATION TECHNOLOGY :
In 2018, due to the increased use of these products in the manufacturing and research of biological products and medical devices, filtration is the market segment that generates the most revenue. In addition, it provides several advantages, such as it does not denature the protein in the product or sample, and provides high efficiency and purity in laboratory scale as well as large-scale operations.
The filtration part is expected to grow at a profitable rate. During the forecast period, due to the increase in R&D investment of suppliers and the improvement of products. The company invests heavily in research and development to meet the unmet needs of manufacturers of biopharmaceuticals, biotechnology, and medical devices. For example, Sartorius invested US$60.4 million in the research and development of innovative products in 2016.
Advances and new product releases help suppliers maintain market dominance, which is expected to drive the growth of this market segment. For example, in September 2016, Merck KGaA launched a new Viresolve Pro Shield H product for the removal of parvoviruses from therapeutic protein feed streams. This product is used with Viresolve Pro equipment to increase productivity and efficiency.
Due to the advancement of products and the increase in R&D and production of biological agents, the chromatographic market segment is expected to grow at the highest rate. For example, in October 2016, Pall, a subsidiary of Danaher, launched the Cadence BioSMB process system, a new type of chromatography system for the one-time continuous production of biopharmaceuticals.
END USE INFORMATION:
In 2018, biopharmaceutical and biotech companies gained the largest market share due to the growth of R&D activities, biologics production, and biopharmaceutical industry. For example, according to the Indian Brand Equity Foundation, India’s pharmaceutical industry is expected to reach 11.6 billion U.S. dollars in 2017 and exceed 100 billion U.S. dollars in 2025.
The use rate of virus filtering technology in the United States is very high. Germany, Britain, Japan, China and India. The existence of large biopharmaceutical and biotechnology companies, well-developed healthcare infrastructure, and access to advanced products in these countries are some of the main factors driving growth.
Due to the trend of outsourcing R&D and manufacturing to CROs, the CRO sector is expected to experience the highest growth during the forecast period. The increase in the number of therapeutic protein and vaccine manufacturing companies has led to a growing demand for outsourced services that meet the specific needs of these companies.
The medical device business unit is expected to experience a significant compound annual growth rate during the forecast period. Virus removal products are widely used in various medical equipment, including anesthesia systems and ventilators. For example, Humid-Vent HEPA is a mechanical filter for viruses and bacteria, suitable for bacteria/virus filtration and humidification in ventilators and anesthesia.
APPLICATION INSIGHTS :
In 2020, the biologics division accounted for the largest share of revenue and is expected to grow at the fastest compound annual growth rate during the forecast period. This can be attributed to the increasing prevalence of chronic diseases such as growth hormone deficiency, blood diseases, cancer, diabetes and autoimmune diseases, which have increased the demand for biologics.
According to the World Health Organization (WHO), the global prevalence of diabetes among patients over 18 years of age has risen from 8.5% in 2014 to 4.7% in 1980. In addition, the American Cancer Society estimates that approximately 1,762,450 new cancer cases will be diagnosed in 2019. Therefore, more and more advanced virus elimination products are used to develop and produce innovative therapies for the treatment of chronic diseases.
Leading biotechnology and biopharmaceutical companies such as F. Hoffmann-La Roche Ltd.; Eli Lilly and Company; Merck & Co.; Amgen; Pfizer; and Novo Nordisk A/S continue to work hard for the development of new drugs. For example, in May 2016, Eli Lilly launched Taltz (ixekizumab) injection for the treatment of plaque psoriasis (moderate to severe) in the United States. In addition, in October 2016, Merck KGaA was approved by the US FDA for your ZINPLAVA (bezlotoxumab) injection.
The medical device sector is the second largest sector and is expected to grow at a considerable compound annual growth rate during the study period. Some manufacturers are introducing advanced virus removal products. For example, Pall, a subsidiary of Danaher, provides breathing system filters that meet quality standards and ensure high performance for mechanical ventilation in anesthesia and intensive care.
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