DUBLIN–(BUSINESS WIRE)–The “Virus Filtration Products – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Virus Filtration Products Market to Reach US$6.6 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Virus Filtration Products, estimated at US$3.1 Billion in the year 2020, is projected to reach a revised size of US$6.6 Billion by 2026, growing at a CAGR of 13.1% over the analysis period.
Kits & Reagents, one of the segments analyzed in the report, is projected to grow at a 14.7% CAGR to reach US$4.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Filtration Systems segment is readjusted to a revised 11% CAGR for the next 7-year period. This segment currently accounts for a 23.9% share of the global Virus Filtration Products market.
Growth in the global market is set to be driven by extensive demand from biotechnology and biopharmaceutical industries. These industries make extensive usage of virus filtration products for protecting their products from any kind of contamination. Other growth boosting factors include favorable regulations, better funding, as well as support to various R&D projects by both private enterprises and government.
Increasing investment and focus on research has boosted development of innovative technologies that facilitate manufacturing of novel filtration products capable of filtering minute structures ranging from microorganisms like viruses and bacteria to particles. Growing usage of biotherapeutics has boosted R&D as well as formulation of novel drugs extracted from different natural sources for treatment of an array of chronic disorders.
The rising incidence of various diseases and chronic conditions around the world, combined with stringent regulations regarding virus-free therapeutics is likely to propel the virus-filtration industry over the medium-term. Focus on development of high-tech products, supportive government regulations, and launch of novel products is expected to benefit market growth.
The U.S. Market is Estimated at $1.1 Billion in 2021, While China is Forecast to Reach $899.5 Million by 2026
The Virus Filtration Products market in the U.S. is estimated at US$1.1 Billion in the year 2021. The country currently accounts for a 31.98% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$899.5 Million in the year 2026 trailing a CAGR of 16.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.7% and 11.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.8% CAGR while Rest of European market (as defined in the study) will reach US$322.9 Million by the end of the analysis period.
The virus filtration market is dominated by North America owing to growth in industrialization, patient awareness, presence of modern infrastructure, as well as high per capita expenditure on healthcare. The European market benefits from favorable policies by the government with respect to healthcare infrastructure.
Growth in Asia-Pacific region is due to increased demand for high-quality therapeutics in large countries such as China and India. In developing countries like China and India, robust economic growth is supporting biotechnology and pharmaceutical units.
Filtration Systems Segment to Reach $1.4 Billion by 2026
A considerable portion of the growth for virus filtration comes from the biopharmaceutical sector. Amidst the rise in single use filtration products and stringent quality standards, the biopharmaceutical sector is expected to expand the market for membrane technology in the near future.
In the global Filtration Systems segment, USA, Canada, Japan, China and Europe will drive the 10.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$570.8 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$150.6 Million by the year 2026, while Latin America will expand at a 11.9% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Virus Filtration Membranes
- A Prelude to Virus Filtration
- Virus Filtration in Biopharmaceuticals
- Enhanced mAb Concentration
- Impact of Covid-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
- COVID-19 Impact on Virus Filtration Market
- Global Market Prospects and Outlook
- Virus Filtration Market Set for a Rapid Growth
- Segment Analysis
- Developed Regions Dominate, Developing to Witness Fastest Growth
- Market Challenges
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 41 Featured)
- Asahi Kasei Medical Co., Ltd.
- Charles River Laboratories International, Inc.
- General Electric Company
- Lonza Group AG
- Merck KgaA
- MilliporeSigma
- Pall Corporation
- Sartorius AG
- Thermo Fisher Scientific, Inc.
3. MARKET TRENDS & DRIVERS
- An Expanding Biopharmaceuticals Sector Drives Growth Opportunities
- Pharmaceutical industry Opens Growth Avenues for Virus Filtration
- Advanced Virus Filters in the Pharmaceutical Industry
- Filtration Technological Advancements Drive Market Growth
- Filtration using Adsorption
- Filtration Advancements
- Mask Tracking and Tracing
- Demographic Trends & Growing Incidence of Chronic Diseases to Push the Market Ahead
- Expansion of Single-Use Technologies in Virus Filtration Products
- Virus Filtration for Biopharmaceutical Production
- The Advent of Continuous Process Methods Drives Market Growth
- Parvovirus Filtration Registers Steady Growth
- Virus Retentive Filters Witness Rapid Growth
- New Air Filters to Fight Against COVID-19
- Manufacturers Show Virus Filtration Safety Techniques
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 41
For more information about this report visit https://www.researchandmarkets.com/r/an6y89
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900