Virus Filtration Market to Grow at a CAGR of 12.2% by 2026

Author: Acumen Research and Consulting

According to a new report published by Acumen Research and Consulting titled Virus Filtration Market (By Product Type: Virus Filters & Filtration Systems, Kits & Reagents, Services; By Application: Biological [Blood & Blood Products, Tissue & Tissue Products, Vaccines & Therapeutics, Cellular & Gene Therapy Products, Stem Cell Products], Medical Devices, Water Purification, Air Purification; By End-user: Pharmaceutical and Biotechnology Companies, Contract Research Organization, Medical Devices Companies) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”, the global market for virus filtration is estimated to grow at a rate of 12.2% during the forecast period. Among the major factors responsible for this astounding increase in the chronic diseases such as cancer, diabetes, and malaria globally. Moreover, the growing awareness regarding the rise in therapeutics infection caused by viruses such as bacteria, and microbes also boosts the growth of virus filtration market globally.In addition, the rise in government initiative coupled with increased R&D expenses from key players also resulted in the augmented growth of virus filtration market. However, the market for virus filtration is likely to get restricted owing to its stringent regulations regarding product filtration majorly in Europe region.In addition, the consolidated market for product filtration is another major challenges faced by the virus filtration market.

Virus filtration is the majorly employed in pharmaceutical & biological companies owing to the rise in standard of product processing. Virus filtration is also done in order to keep the work environment pathogen free. Pathogen such as virus, bacteria, and microbes leads to the contamination of water, and air, which in turns leads to the development of chronic diseases in employees and degradation in the quality of products.

Asia Pacific to be the most attractive market for virus filtration during the forecast period

The market for virus filtration has been segmented by region as North America, Europe, Asia Pacific and Rest of the World. North America was the largest market for virus filtration in 2013 due the presence of key players of virus filtration market in the region. Technological advancement and increased R&D spending by the manufacturers are major driving factors of virus filtration market in Europe. However, Asia-Pacific is anticipated to be the most lucrative market for virus filtration throughout the forecast period on account of rising awareness towards chronic diseases such as malaria, cancer, and diabetes. Government initiatives and cheap labor cost also supports the market growth of virus filtration in the region.

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Pharmaceutical & biotechnology segment accounted for maximum share in the virus filtration market

Pharmaceutical & biotechnology companies, contract research organizations, and medical device companies are the major end-user of virus filtration market. In 2013, the pharmaceutical & biotechnology segment were the major shareholders for virus filtration market due the presence of several pharmaceutical & biotechnology companies globally. These companies employ virus filtration in order to keep a pathogen free work environment and to maintain the high standard of product safety.

Biological application to be the most lucrative segment during the forecast period

Based on application, the virus filtration market has been segment as medical devices, water purification, air purification, and biological. The biological segment has been further sub-segmented as blood & blood products, tissue & tissue products, vaccines &therapeutics, cellular & gene therapy products, and stem cell products. The biological application accounted for the major share of virus filtration market in 2013 and is also anticipated to be the most attractive segment during the forecast period owing to the increasing acceptance of biotherapeutics in biological applications. Biotherapeutics offer reduced adverse effects in the biological applications and hence are employed at a great level for several biological applications.

Kits & reagents to register highest growth rate during the forecast period

Based on product type, virus filtration market has been segmented into filters &filtration systems, kits and reagents, and services. The kits & reagents segment is anticipated to register the highest CAGR during the forecast period as these used repeatedly in various R&D projects, laboratory techniques, and biopharmaceutical companies.

Some of the leading companies operating in virus filtration market include Lonza, Danaher, General Electric, Sartorius AG, Thermo Fisher Scientific Inc.,WuXi PharmaTech (Cayman) Inc., Merck KGaA, Charles River Laboratories International, Inc., Sigma-Aldrich Corporation, and Asahi Kasei Medical Co., Ltd.These key players are actively involved in technological development in order to enhance the features of the virus filtration. These players have also adopted the strategies such as merger and expansion in order to compete in the global virus filtration market.

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