Viral Clearance Market | Increasing Number of Drug Launches | Growing at a CAGR of 21.7%

Pune, India, 2020-Apr-27 — /EPR Network/ —

The Growth of  Viral Clearance Market is primarily driven by factors such as the growth in the pharmaceutical and biotechnology industries, increasing number of new drug launches, R&D investments in life science, advancements in nano-filtration technology, and high incidence and large economic burden of chronic diseases.

The Global Viral Clearance Market is expected to reach $724.5 million by 2023 from an estimated $271.2 million in 2018, at a CAGR of 21.7% during the forecast period.

Objectives of the Study

• To define, measure, and describe the global viral clearance market by application, method, end user, and region
• To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities)
• To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the size of market segments in North America, Europe, Asia Pacific, and RoW

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The rising prevalence of diseases, growing production of monoclonal antibodies, and government support for the development of drugs are some of the key factors driving the viral clearance market in the US. In Canada, increasing pharmaceutical production is expected to boost the growth of the viral clearance market.

Based on application, the market is segmented into recombinant proteins, blood and blood products, vaccines, and other applications. The other applications segment is expected to grow at the highest CAGR during the forecast owing to the increasing use of cellular therapies in the treatment of various disorders, increasing public and private funding for stem cell research, rising awareness about stem cell therapies, and the use of tissue-based therapies to treat various diseases.

On the basis of end user, the viral clearance market is segmented into pharmaceutical & biotechnology companies, CROs, academic research institutes, and other end users. The contract research organizations segment is expected to register the highest CAGR during the forecast period. The high growth in this segment can be attributed to the ability of CROs to invest in extensive drug discovery infrastructure and the rising outsourcing of Drug Discovery Servicesto CROs by pharmaceutical companies, academic institutes, small biotechnology companies, and start-ups.

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The North American region is expected to account for the largest share of the market in 2018. However, Asia Pacific is expected to witness the highest growth during the forecast period, owing to increase in generics development and manufacturing, surge in funding for medical research and the presence of a large number of CROs to provide preclinical and clinical research services in China, government initiatives to boost the use of generic drugs, increasing aging population in Japan, rise in pharmaceutical R&D expenditures in India, and the growing pharmaceutical manufacturing in Singapore and Malaysia.

The key players in the global viral clearance market are Wuxi Biologics (Cayman) (China), Merck KGaA (Germany), Charles River Laboratories International Inc. (US), and Texcell Inc. (France). These companies together accounted for 70.0% of the global viral clearance market in 2017. Other players together accounted for 30.0% of the market. These include Kedrion (Italy), Vironova Biosafety (Sweden), Clean Cells (France), BSL BIOSERVICE Scientific Laboratories Munich GmbH (Germany), and ViruSure GmbH (Austria).