New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Viral Inactivation Global Market Report 2023" - https://www.reportlinker.com/p06479863/?utm_source=GNW
, Thermo Fisher Scientific Inc., Macopharma, Cerus Corporation., TERUMO BCT INC., Weigao Group, SCI Automation., Pall Corporation And Eurofins Scientific and General Electric Company.
The global viral inactivation market is expected to grow from $4.15 billion in 2022 to $4.54 billion in 2023 at a compound annual growth rate (CAGR) of 9.35%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The viral inactivation market is expected to reach $6.59 billion in 2027 at a CAGR of 9.78%.
The viral inactivation market includes revenues earned by chemical viral inactivation and radiation viral inactivation.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Viral inactivation refers to the process of inactivation of viral contamination by exposing the bioprocess fluid to environments that denature the viral protein yet retain the active ingredient of the product. Viral inactivation is most commonly used in blood plasma processing and monoclonal antibody processing.
North America was the largest region in the viral inactivation market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of viral inactivation are kits and reagents, systems, and services.The solvent detergent method refers to the process that involves damage to the lipid membrane of encapsulated viruses and causes their inactivation.
The solvent detergent method is used in plasma to safely render all lipid-enveloped viruses.The viral inactivation typically has solvent detergent method, pH adjustment method, pasteurization, and other methods that are applied in vaccines and therapeutics, tissues and tissue products, blood and blood products, and other applications.
The end-users include pharmaceutical and biotechnology companies, contract research organizations, blood banks, hospitals, academic research institutes, and other end users.
Growing instances of various infectious diseases are expected to propel the growth of the viral inactivation market, going forward.Infectious diseases refer to the conditions that transmit from one individual to another, via polluted foods and beverages, and through pathogens such as viruses, bacteria, fungi, and parasites.
Viral inactivation is widely applicable in human disease-control programs to inactivate viruses using physical and chemical disinfectants to prevent the spread of contagious viral infections, resulting in the growth of the viral inactivation market. For instance, in December 2022, according to the ‘Annual Epidemiological Report for 2021’, published by European Centre for Disease Prevention and Control, a Sweden-based, European Government Health Agency, 2021, the distribution of hepatitis C cases and rates per 100,000 population, in Germany, reached 4,718 cases and 5.7 rates respectively from 4,536 cases 5.5 rates in 2020. Therefore, the growing instances of various infectious diseases are driving the growth of the viral inactivation market.
The increasing use of technologically advanced processes is a key trend gaining popularity in the viral inactivation market.Companies operating in the viral inactivation market are adopting technologically advanced processes to sustain their position in the market.
For instance, in March 2022, WuXi Advanced Therapies, a wholly owned subsidiary of WuXi AppTec, a China-based, biopharmaceutical company, launched Tetracycline-Enabled Self-Silencing Adenovirus (TESSA™) Technology.This cutting-edge technology has enabled, the approval of new therapies by conducting all assay formulation, biosafety, viral clearance, product release, and testing, done simultaneously, in-house.
This technique is a novel innovative method for producing adeno-associated virus (AAV) at Good Manufacturing Practices (GMP) grade without the need for transfection.
In June 2022, Asahi Kasei Medical, a Japan-based, healthcare company engaged in chemical manufacturing, acquired Bionova Scientific, for an undisclosed amount.Asahi Kasei gains access to Bionova’s 36,000-square-foot production facility, which has two 2,000-litre mammalian cell culture trains and the capacity to generate several monoclonal antibodies and other recombinant proteins.
Following the acquisition, Asahi Kasei plans to capitalize on its current businesses in the bioprocess supplies, tools, and biosafety testing services as well as the biologics CDMO division of Bionova Scientific. Bionova Scientific is a US-based, company engaged in the cGMP manufacturing of biologics and downstream purification processes for viral inactivation and viral filtration.
The countries covered in the viral inactivation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The viral inactivation market research report is one of a series of new reports that provides viral inactivation market statistics, including viral inactivation industry global market size, regional shares, competitors with a viral inactivation market share, detailed viral inactivation market segments, market trends and opportunities, and any further data you may need to thrive in the viral inactivation industry. This viral inactivation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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