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Global Viral Inactivation Market to Reach USD 1061.33 Million by 2027, Aided by the Rising Prevalence of Chronic Diseases

According to a new report by EMR titled, ‘Global Viral Inactivation Market Report and Forecast 2022-2027’, the global viral inactivation market reached a value of USD 552.33 million in 2021. The industry is expected to grow at a CAGR of 11.50% in the forecast period of 2022-2027 to reach a value of USD 1061.33 million by 2027.

The increasing number of new drug launches is a key factor driving the market growth. The increased risk of cell culture contamination, rising healthcare expenditures, advancements in nanofiltration technology, and the rising incidence of chronic diseases globally are the major factors driving the viral inactivation market. In the forecasted period, rising pharmaceutical outsourcing and growth in emerging markets would generate new prospects for the viral inactivation industry. The viral inactivation industry is also driven by stringent regulations controlling the pharmaceutical and related sectors in a number of developed economies, which govern the safety of drug development procedures and the efficiency of quality control and quality assurance criteria. In the coming years, incidents related to the recall of flawed vaccinations that may have a severe health impact on users in a number of countries are projected to raise demand for effective viral inactivation techniques in vaccines. One of the major factors encouraging the need for viral inactivation around the world is growing concerns about the transmission of blood-borne viruses through plasma-derived medical products.

The majority of the players are focusing on the development of new products. In September 2019, Merck KGaA announced the purchase of Pfizer Inc. and the introduction of BAVENCIO, a new medication that aims to cure a variety of illnesses, including cancers such as renal cell carcinoma and metastatic cancer, among others.

Market Analysis by Product, Application, End Use, and Regions:

  • Based on product, the market is categorised into kits and reagents, systems, and services.
  • The significant applications of the market are vaccines and therapeutics, stem cell products, blood and blood products, tissue and tissue products, and cellular and gene therapy.
  • The various end uses in the market are pharmaceutical and biotechnology companies, CROs, academic and research institutes, among others.
  • The regional markets for viral inactivation include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • As a result of technology advancements and the patent expiration of prominently branded pharmaceuticals, the market is likely to be in high demand.
  • Increased research and development innovation in many applications, such as stem cell research and cellular and gene therapy, has also contributed significantly to market expansion.
  • The rapidly ageing population and increased obesity rates in various regions is expected to augment the growth of the market.
  • The growing public and private initiatives to increase awareness related to health and safety of the medicinal treatment and an increasing number of private sector hospitals is driving the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global viral inactivation market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for product, application, end use, and major regions of viral inactivation.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global viral inactivation industry are Rad Source Technologies Inc, Merck KGaA, Parker Hannifin Corp, Sartorius AG, and Cerus Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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