Viral Clearance Market was valued at USD 285.5 Million in 2015. This market is expected to grow at a CAGR of 12.3% to reach USD 510.3 Million in 2020.
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Viral Clearance Market Worth 510.3 Million USD by 2020
According to a new market research report "Viral Clearance Market by Application (Stem Cell, Blood, Tissue, Cell & Gene Therapy), Method (Inactivation, Removal (Precipitation), Detection (PCR, ELISA)) & End User (Pharmaceutical & Biotechnology, CROs, Research Institute) - Global Forecast to 2020", published by MarketsandMarkets, the global market was valued at USD 285.5 Million in 2015. This market is expected to grow at a CAGR of 12.3% to reach USD 510.3 Million in 2020.
Browse 76 market data Tables and 89 Figures spread through 165 Pages and in-depth TOC on"Viral Clearance Market“
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The global Viral Clearance Market is segmented on the basis of method, end user, application, and geography. By method, the market is divided into viral detection method, viral removal method, and viral inactivation method. Of these, the viral detection method segment accounted for the largest share of the global Viral Clearance Market in 2015.
The application segments included in this report are blood & blood products, cellular & gene therapy products, stem cell products, tissue & tissue products, and vaccines and therapeutics. Of these the vaccines and therapeutics application hold the highest share. By end user, the market is segmented into pharmaceutical and biotechnology companies, contract research organizations, academic research institutes, and other end users. Other end user segment primarily includes medical device companies, cell banks, small cell culture laboratories and consultants, microbiology laboratories, immunology laboratories, molecular laboratories, animal facilities, toxicology laboratories, and media/sera manufacturers.
The geographic segments included in this report are Asia, Europe, North America, and the Rest of the World (RoW). The North America segment is further divided into Canada and the U.S.
Rapidly increasing pharmaceutical and biotechnology industries and increasing number of new biologics products launched will be the two most important growth drivers for this market in the forecasted period (2015-2020). For instance, the number of new biologics products launched annually witnessed a strong upward trend between 2003 and 2013. The number of new products launched in 2013 was 56 as compared to 29 in 2003. The biologics pipeline has increased by 155%, from 355 treatments in 2001 to 907 in 2012.
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A strong pharmaceutical product pipeline will aid the growth of the pharmaceutical and biotechnology industry, which is an important end user of viral clearance products. Moreover, increasing government support for the pharmaceutical and biotechnology industries will further boost the demand for viral clearance products. For instance, in 2013, the European Research Council awarded a fund of USD 830 million for life sciences research projects across Europe. A similar trend can be observed in Asia. For instance, beginning in 2014, the Indian government plans to invest up to USD 5 billion a year for the next five years, to boost the biotechnology sector in the country and make it a USD 100 billion industry by 2025. These funding activities help in increasing the purchasing power of major research institutes, which in turn is driving the market for viral clearance products.
Major players in the Viral Clearance Market include Avance Biosciences Inc. (U.S.), BSL BIOSERVICE (Germany), Clean Cells (France), Charles River Laboratories International, Inc. (U.S.), Lonza Group (Switzerland), Merck & Co., Inc. (U.S.), Sigma-Aldrich Corporation (U.S.), SGS S.A. (Switzerland), Texcell, Inc. (France), and WuXiPharmaTech (Cayman) Inc. (China).
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