Global Virus Filtration Market to Exhibit at a 12.3% CAGR during the forecast period 2020-2027
September 15, 2021
The global virus filtration market is expected to grow USD 7.32 billion by 2027, at a CAGR of 12.3% during the forecast period 2020-2027.NEWARK, UNITED STATES, NEW JERSEY, September 15, 2021 /EINPresswire.com/ -- Fior Markets has recently released a research report titled Virus Filtration Market by Product (Services, Filtration Systems, Reagents, Consumables, Kits), Application (Air Purification, Water Purification, Medical Devices, Stem Cell Products, Tissue and Tissue Products, Cellular and Gene Therapy Products, Blood and Blood Products, Vaccines and Therapeutics, Biological), End-User (Medical Device Companies, Academic Research Organizations, Contract Research Organizations, Biotechnology Companies, Pharmaceutical), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global virus filtration market is expected to grow from USD 2.89 billion in 2019 to USD 7.32 billion by 2027, at a CAGR of 12.3% during the forecast period 2020-2027. North-America has the largest share of virus filtration market. Increased demand for biologic due to increased scrutiny of incidences result in generating higher investments in research and development. Hence, the need for biologics is expected to drive the market in North-America.
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Key players in the global virus filtration market are General Electric Company, Lonza Group Ltd, Sartorius AG, Sigma-Aldrich Corporation, WuXi PharmaTech, Charles River Laboratories International, Inc., Thermo Fisher Scientific Inc., Asahi Kasei Medical Co., Pall Corporation and Merck & Co., Inc. Key players are highly investing in research and development of protein therapeutics, vaccines, cellular therapy products, blood products, gene therapy products, stem cell products and tissue products. General Electric Company has a robust portfolio for products and geographical presence.
The product segment includes services, filtration systems, reagents, consumables and kits. Along with consumables segment, service segment is expected to grow over the forecast period as the need for drug development services is increased. The application segment includes air purification, water purification, medical devices, stem cell products, tissue and tissue products, cellular and gene therapy products, blood and blood products, vaccines and therapeutics and biological. Biological has the largest market share in the virus filtration market and is expected to show the highest growth over the forecast period. Increased technological advancement and innovations are resulting in generating higher demand for biological segment. The end-users segment includes medical device companies, academic research organizations, contract research organizations, biotechnology companies and pharmaceutical. Biopharmaceutical drugs are highly expensive, unique and complex. The demand for research and development is increasing, generating higher growth for Bio-pharmaceutical companies.
The global Virus Filtration Market is driven by increased investments in research and development, demand for biopharmaceutical industries and increased demand for single-use technology. Increased prevalence of diseases is expected to boost the virus filtration market. Manufacturers ensures virus safety through quality control such as implementation and validation of virus clearance technology, quality check and monitoring of raw materials and validation for the absence of virus. Hence, demand is high virus filtration market.
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About the report:
The global virus filtration market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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