Global Viral Inactivation Market Outlook, Trends, & Competitive Strategies Report 2022-2023 & 2030: Rise in the Number of Drug Launches and Approvals Bodes well for the Burgeoning Sector - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Viral Inactivation Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.

The global viral inactivation market reached USD 550 Million in 2021 and is expected to register a CAGR of 12.5% during the forecast period of 2022 to 2030.

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

Regulatory authorities require viral inactivation testing for investigational new drug (IND) submission, and it is crucial for the process development of biologicals, such as tissue and tissue products, stem cell products, cellular and gene therapy products, blood and blood products, vaccines, and therapeutics.

Rapid growth in the pharmaceutical and biotechnology sectors and a strong trend of R&D spending in the life sciences industry are the primary market drivers. Increasing government support for the pharmaceutical and biotechnology industries, as well as an increase in the prevalence of chronic diseases, will also contribute to the expansion of this industry.

The rise in the number of pharmaceutical and biopharmaceutical companies worldwide, the rise in investment in the life sciences sector, the rise in the number of drug launches and approvals, and the rise in government funding for the development of the pharmaceutical and biopharmaceutical industries are among the major factors driving the market growth.

The global growth in chronic diseases such as cancer, diabetes, autoimmune disorders, and other illnesses has contributed to an increase in healthcare costs. An increase in healthcare expenditures is required primarily to conceive and develop new and improved medications to combat the escalation of these diseases. Increasing R&D innovation, medication discoveries, and FDA approvals that culminate in the marketing of new drugs are driving market expansion.

Kits and Reagents Dominate the Product Market

The market is segmented by product into kits & reagents, systems, and services. Due to the continued use of kits and reagents by pharmaceutical and biopharmaceutical businesses, kits and reagents held the greatest market share in 2021.

Due to the simplicity of management and specialized services provided by service-providing organizations, the services industry is expected to grow at the highest rate. With a surge in the number of pharmaceutical and biopharmaceutical businesses and spending on research and development for new medication development, the demand for kits and reagents has skyrocketed.

Due to the rising use of consumables, kits, and reagents in a variety of end-use settings, this was the largest market sector for the product.

Vaccines and Therapeutics Segment to Dominate the Application Market

The viral inactivation market is categorized by application into vaccines and treatments, stem cell products, blood and blood tissue products, tissue and tissue products, and cellular and gene therapy products. The vaccine and therapeutics sector held the largest revenue share in 2021.

The highest market revenue is attributable to higher incidences and the enormous economic burden of chronic diseases such as Cancer, which demanded inactivated vaccines and increased government support for pharmaceutical and biotechnology industries to invest in the research and development of novel therapeutics

Pharma and Bio-Pharma Segment Dominate the End User Segment

Based on end-use, the viral inactivation market is segmented into pharmaceutical and biopharmaceutical firms, contract research organizations (CROs), academic and research institutions, and others.

In addition, laboratories and blood banks are also considered to be medical suppliers. Due to the rising use of these items in medication development and drug manufacturing, the pharmaceutical and biopharmaceutical industries held the highest market share in 2021. In the past few decades, the pharmaceutical and biopharmaceutical industries have experienced tremendous expansion.

The number of new pharmaceuticals has increased as a result of a rise in funding for the discovery of alternative therapies. With the emergence of biologics and other cellular and gene therapy products, pharmaceutical and biopharmaceutical companies have increased their use of viral inactivation products.

North America Remains as the Global Leader

Throughout the forecast period, North America held the dominant position in 2021. The U.S. remained the largest revenue share in North America.

In addition, the advanced healthcare infrastructure, the presence of large pharmaceutical and biopharmaceutical businesses, and the significant healthcare R&D expenditures by the government and companies in the United States are expected to drive the North American market.

According to ClinicalTrial.gov, Canadian pharmaceutical companies and research institutions had robust R&D pipelines in 2021, with 5,659 new studies in various stages of evaluation, 1,397 (24%) of which were in Phase III clinical trials approved by the food and drug administration (FDA) or EMA (European Medicines Agency), representing a broad range of therapeutic areas; this condition will stimulate market growth in the country.

Market Moving towards Consolidation during the Forecast Period

The market for viral inactivation is moderately concentrated and competitive, with many significant competitors. In terms of market share, a small number of market leaders are now utilizing a variety of development methods to dominate the industry.

Some important firms are consolidating their global market positions through strategic acquisitions and mergers. In addition, it is anticipated that new players will enter the market with unique product pipelines and ongoing technological advancements that will raise market revenue throughout the projection period. The bulk of participants is focusing on new product development.

The market is characterized by numerous mergers and acquisitions, resulting in a high degree of market consolidation.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Viral Inactivation market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Viral Inactivation market?
• Which is the largest regional market for Viral Inactivation market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Viral Inactivation market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Viral Inactivation market worldwide?

The major players in this market include

• Merck & Co. Inc.
• PARKER HANNIFIN CORP
• Sartorius AG
• Texcell
• Cytiva
• Danaher.
• SGS SA
• Charles River Laboratories.
• Cleancells
• Rad Source Technologies
• WuXiAppTec
• GENERAL ELECTRIC COMPANY
• Sigma-Aldrich Co.
• Thermo Fisher Scientific Inc.
• Macopharma
• Cerus Corporation

Market Segmentation

Method

• Solvent Detergent Method
• Pasteurization
• Other Viral Inactivation Method

Product

• Kits and Reagents
• Services
• Viral Inactivation Systems and Accessories

Application

• Blood & Blood Products
• Cellular & Gene Therapy Products
• Stem Cell Products
• Tissue & Tissue Products
• Vaccines and Therapeutics

End User

• Pharmaceutical and Biotechnology Companies
• Contract Research Organizations
• Academic Research Institutes
• Other End Users

For more information about this report visit https://www.researchandmarkets.com/r/uhyiat

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