USD 492.9 billion
Report ID: SQSG35I2005 | Region: Global | Published Date: July, 2023 | Pages: 260 | Tables: 120 | Figures: 77
Viral Clearance Market size was valued at USD 492.9 billion in 2021 and is poised to grow from USD 535.6 billion in 2022 to USD 1519.7 billion by 2030, growing at a CAGR of 16.1% in the forecast period (2023-2030).
Viral clearance is the process of removal of viral particles and TSE (Transmissible spongiform encephalopathy) agents from the manufacturing process of development for monoclonal antibodies, recombinant proteins and glycoproteins, tissue, blood-derived products, and medical devices as these products are at risk from bacteria, chemical impurities, fungi, and from viruses. Viral contamination can affect cell culture processes, raw materials, bioreactor contamination, and downstream processing which in turn creates demand for viral safety practices. Increasing investments in the field of pharmaceutical and biotechnology and the rising demand for vaccines and other biotherapeutic agents are driving the market in the upcoming years.
US Viral Clearance Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 492.9 billion
Pharmaceutical & Biotechnology Companies
Pharmaceutical & Biotechnology Companies
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Global Viral Clearance Market segmentation is based on method, application, end-user, and region. Based on the method, the Viral Clearance Market is segmented into the Viral Removal Method, Viral Inactivation Method, and Viral Detection Method. Based on Application, the Viral Clearance Market is segmented into Recombinant Proteins, Blood and Blood Products, Vaccines, and Others. Based on end-user, the Viral Clearance Market is segmented into Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Others. Based on Region the Viral Clearance Market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Viral Clearance Market Analysis by Method
Based on the method, the market is segmented into the viral removal method, viral inactivation method, and viral detection method. Viral removal method segment accounted for the largest share in 2022. This segment may experience strong growth due to its efficiency and flexibility of the process. While in the upcoming years, the viral inactivation method segment is expected to grow faster due to increasing demand for new products like plasma proteins and gene therapy products. Lastly, the viral detection Method segment is expected to grow at a steady rate as this is the first step in the process of viral clearance this step will boost the growth of the segments of the market.
Viral Clearance Market Analysis by Application
Based on application, the market is segmented into recombinant proteins, blood and blood products, vaccines, and others. Vaccines accounted for a major share at a global scale and due to Covid-19 pandemic, the population realizes the importance of good health and have become conscious about their health. Increasing demand for the production of vaccines and immunization against chronic diseases such as hepatitis, cervical cancer, and others is boosting the growth of the vaccine segment.
Viral Clearance Market Analysis by End User
Based on end-user, the market is segmented into pharmaceutical & biotechnology companies, contract research organizations, academic research institutes, and others. The pharmaceutical & biotechnology companies segment accounted for a larger market share in 2022. The growth is the result of the mandate requirement of viral detection and viral inactivation during the development phase of biopharmaceuticals. This is projected to contribute to the segmental growth of the market in the upcoming years.
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In 2022, North America dominated the market by accounting for over 35% of the market share owing to the rapidly growing innovation in biotechnology and Life sciences. Growth of pharmaceuticals, increase in number of drug approvals, investments in research and development, and accuracy and flexibility of method in life sciences research has shaped the market growth in these areas.
The growing prevalence of illnesses and an increased production of monoclonal antibodies, and government assistance for medication development are some of the primary reasons driving the viral clearance industry in the US with increasing pharmaceutical production supporting the growth of the region. Europe is expected to follow North America due to the strong foundation of research and development and pharmaceuticals and is expected to capture the second-largest share of the market.
Asia Pacific may exhibit a larger growth in upcoming years owing to an increase in the processes of development and manufacturing of generics and the rise in government investments for medical research and the presence of CROs in the countries like China, Japan, and Malaysia. While Latin America and the Middle East regions are likely to observe modest growth due to the rising health expenditures and increasing demand for biopharmaceuticals.
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Viral Clearance Market Driver
Increase in Demand for Biologics and Vaccines to Boost the Market Growth
Viral Clearance Market Restraint
Significant Costs and Lack of Skilled Specialists to Impede the Market Growth
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The key players in the viral clearance market are working on continuous innovation in the field of research and development and product portfolio enhancement for better therapeutic outcomes for consumers. For example, In November 2021, Wuxi biologics announced the official opening of its advanced therapies testing facility, including 140,000 sq. ft laboratories to enhance the company’s Contract Testing, Developing, and manufacturing Organization businesses to meet the increasing needs of customers in cell and gene therapy industry. Companies are also focusing on mergers and acquisitions to expand their businesses.
Viral Clearance Market Top Players Company Profiles
Viral Clearance Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global viral clearance market report analysis, based on the method, the viral removal method dominated the global viral clearance market in 2022 and is anticipated to maintain its dominance throughout the forecast period. Whereas, North America dominated the global market by accounting for a greater market share owing to the National institutes supporting biotechnology and life sciences, growth of pharmaceuticals, and an increasing number of drug approvals.
|Market size value in 2021||USD 492.9 billion|
|Market size value in 2030||USD 535.6 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Viral Clearance Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Viral Clearance Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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