According to the latest report published by Credence Research, Inc. “Virus Filtration Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Virus Filtration market was valued at USD 2,151.1 Mn in 2017, and is expected to reach USD 5,015.3 Mn by 2026, expanding at a CAGR of 9.5% from 2018 to 2026.
Browse the full report Virus Filtration Market - Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/virus-filtration-market
Market Insights
In virus filtration process a membrane barrier is used to separate virus particles. This is a specifically designed polymeric membrane used to keep virus particles over the surface and within the membrane pores. The most important parameters that specifically focuses on the log reduction value (LRV) and throughput further affecting parameters due to key factors such as presence of foulants, concentration of protein, viral load, pressure, operating flux, and ionic strength, among others. The most vital part of virus filtration is selection and validation of suitable viral filter for the probable range of conditions.
In year 2017, virus filters and filtration systems accounted for the largest market share due to key market drivers such as high quality standards set by regulatory bodies, and developing medical device & pharmaceutical technologies assisting the market entry of new companies. Thus, overall industrial growth in healthcare industry is considered as the key factor responsible for growth of virus filtration market.
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During the forecast period from 2018 to 2026, biological applications segment expected to grow significantly and dominate the overall virus filtration market. Biological application comprises vaccines & therapeutics, blood & blood products, cellular & gene therapy products, tissue & tissue products, and stem cell products. The majority products are found under biological applications due to which this segment dominates the market and expected to maintain that position throughout the forecast period. The stringent regulatory guidelines for biological products have increased the demand for virus filtration systems in biotechnology, pharmaceutical & medical device companies.
In 2017, North America dominated the global virus filtration and expected to maintain its position throughout the forecast period due to key factors responsible for its growth such as rising awareness related to risks associated with virus traces in biological products, and stringent policies designed by regulatory bodies in healthcare industry. During the forecast period from 2018 to 2026, Asia Pacific was identified as the fastest growing virus filtration market due to key factors such as developing healthcare industry in countries such as China, & India, increasing awareness related to hospitals acquired diseases, and stringent regulatory policies against virus filtration is expected to assist the growth of virus filtration market.
Market Competition Assessment:
The growth of virus filtration is at a substantial pace and major companies operating in this market are concentrating on the development of efficient virus filtration devices. The key market players in this market are Merck KGaA, Thermo Fisher Scientific, Inc., Medical Respiratory Devices PendoTECH, Lonza, Sartorius AG, Charles River Laboratories, General Electric, Asahi Kasei Corporation, Danaher, PendoTECH, and Lonza among others.
Key Market Movements:
• Stringent policies designed by regulatory authorities to maintain high quality of healthcare products by carrying out virus filtration
• Increasing prevalence of hospital acquired infections & diseases occurred due to presence of virus in healthcare products
• Technologically virus filtration devices are upgrading and focusing specifically on high performance
• Asia Pacific was observed as the fastest growing virus filtration market due to growing healthcare industry in countries such as China & Japan