- Virus filtration is finding applications in broad range of industries in order to maintain the overall environment pathogen and virus free
- Rising number of biotechnology and biopharmaceutical industries across the world has been the key driving factor for the development of the global virus filtration market
ALBANY, New York, April 6, 2020 /PRNewswire/ -- Transparency Market Research has recently published a research report that talks about the global virus filtration market and the inner working dynamics of the same. The research report talks about the key segments, driving factors, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.
According to the research report, the global market for virus filtration was valued at US$1,238.3 Mn in the year 2017. For the given forecast period ranging from 2018 to 2026, the global market is expected to develop at a massive CAGR of 12.4%. With this rate of growth, the valuation of the global virus filtration market is expected to reach to a mark worth US$3,371.0 Mn by the fall of 2026.
Global Virus Filtration Market – Key Takeaways
- Based on the type of product, the global market for virus filtration is being dominated by the segment of kits & reagents because of their recurring use in several biopharmaceutical industries, research and development activities, and labs among others.
- Based on application, the global market is being dominated by the biological segment in the coming years of the forecast period due to increasing adoption of biotherapeutics.
- In terms of end users, the market is being led by the segment of pharmaceutical and biotechnology.
- The segment is expected to clock a mammoth CAGR of 14.2% during the given period of assessment.
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Global Virus Filtration Market – Key Driving Factors
- One of the key driving factors for the growth of the global virus filtration market has been the recent growth of the biotechnology and biopharmaceutical industries.
- Rise in the number of funding and investments to boost the activities of research and development of newer and innovative technologies is another key factor for driving the growth of the global market.
- In recent years, there has been an increasing adoption of biotherapeutics for developing newer drugs derived of natural sources for treating chronic disorders. This has prompted the labs and manufacturing industries to take extra precaution to avoid entry of different pathogens in the labs, and thus prompting the uptake virus filtration of market.
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Global Virus Filtration Market – Key Restraining Factors
- Issuance of strict regulatory guidelines for the validation of the virus filtration products is expected to emerge as a key impeding factor for the development of the global market.
Global Virus Filtration Market – Geographical Segmentation
- North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the key geographical segments of the global virus filtration market.
- Among these, the regional segment of Asia Pacific is expected to remain dominant over the course of the given period of forecast.
- The regional segment is projected to clock a massive 13.8% CAGR during the assessment period.
- Increasing awareness about the benefits of biotherapeutics is expected to spur the growth biopharmaceutical industries, and ultimately improve the adoption of virus filtration products.
Analyze Virus Filtration Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea.
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Global Virus Filtration Market – Key Players
Major players operating in the global virus filtration market include Merck KGaA, Asahi Kasei Corporation, Sartorius AG, General Electric, Thermo Fisher Scientific, Inc., Danaher, PendoTECH, Lonza, Charles River Laboratories, and Medical Respiratory Devices.
Market Segmentation is as follows:
- Product Type
- Virus Filters and Filtration Systems
- Kits and Reagents
- Medical Devices
- Water Purification
- Air Purification
- End user
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
- Medical Device Companies
- North America
- Latin America
- Middle East and Africa
- Asia Pacific
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Vaccines Market - According to the market research study that has been recently published by Transparency Market Research, in 2016, the global vaccines market was worth US$ 28.0 Bn and is projected to reach a value of US$ 48.0 Bn by the end of 2025. The market is predicted to register a promising 6.0% CAGR between 2017 and 2025.
Biopharmaceuticals Market - The demand for biopharmaceuticals products have grown considerably in the past few years, as biopharmaceuticals are structurally similar to human body components. This factor helps in treating cancer, diabetes, psoriaisis, rheumatoid arthritis, and other in a very effective manner. with the rising geriatric population and rising prevalence of these disease have boosted the demand in the global biopharmaceuticals market.
Respiratory Devices Market - The global respiratory devices market was valued at US$ 17 Bn in 2017 and is projected to expand at a CAGR of 6.5% from 2018 to 2026 to reach US$ 31.0 Bn by 2026. Increase in incidence of COPD and sleep apnea, strategic alliances among key players, and rise in government expenditure are the major factors anticipated to propel the global respiratory devices market during the forecast period.
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