Accelerating growth of pharmaceutical and biotechnology industry is expected to enhance the growth of virus filtration market from 2018 to 2025.
The global virus filtration market is expected to reach US$ 5,555.4 Mn in 2025 from US$ 2,139.4 Mn in 2017.
In the recent years, pharmaceutical industry has been developing at an unusually rapid pace. Manufacturers along with their alliance with the CROs are confronting to the enormous healthcare challenges through new medicines, therapy forms, progressing digitalization and constantly changing the regulations. According to the World Health Organization, the global population is increasing by 1.24% per annum leading to rise in number of people in the geriatric class. The WHO also suggests that the proportion of people aged 65 to 80 will rise to 28% in 2030, compared to 22% in 2000. Virus clearance tests are among the most commonly performed tests to confirm elimination of any traces of known or unknown viruses from the drug formulations. This is expected to increase the demand of the pharmaceutical and biotechnology companies to increase the demand of the virus filtration process to eliminate the virus in order to achieve the product with high quality and efficacy. However, availability of alternative techniques that helps to conduct virus clearance tests are expected to hamper the growth of global virus filtration market.
A number of developments have taken place within recent years in the virus filtration market. These developments comprise of both the organic and inorganic developments contributed by the company to increase the business and revenue generation in the market. For instance, in June 2016 Sartorius Stedim Biotech (SSB), subsidiary of Sartorius AG, launched Virosart Media for virus retention in cell culture media. The latest filter is a fast and cost-effective solution for manufacturers which reduces the risk of virus contamination from raw materials, such as chemical media. On the other hand, the new comers and major market players are witnessing high growth opportunities among the emerging economies of the globe. The existing pharmaceutical and biotechnology companies are observed to show interest and are eager to acquire the upcoming businesses that promises striking outsourcing deals across the untapped markets in the emerging economies. The emerging markets in the developing economies are expected to be the crucial factor offering better and lucrative growth opportunities for the major players to expand their business and geographic reach. Countries in Asia Pacific, Latin America and few in the Mediterranean region are seen to be major targets for the companies to set up their financial operations and increase revenue generation through strategic planning such as merger and acquisition. Majority of the market players focus on emerging market such as Asia Pacific due to an increase in the prevalence of various diseases in the region as well as low per capita income leading to cost saving benefits.
The major players operating in the virus filtration market include Merck KGaA, Danaher (Pall Corporation) and Sartorius AG, Thermo Fisher Scientific Inc., General Electric, Lonza, Charles River, WuXi AppTec, Asahi Kasei Medical Co., Ltd. and Clean Cells among others.
