The global viral clearance services market is expected to grow by a whopping CAGR of around 21%; Rising Demand for Specialty Drugs to Propel Market Growth
The key companies covered in the Global Viral Clearance Services Market research report by Research Nester are Merck KGaA, Sartorius AG, Syngene International Limited, Mérieux NutriSciences Corporation, Kedrion SpA, Lonza AG, SGS SA, Charles River Laboratories International Inc. ., Texcell Inc and Work Dr. Merk & Kollegen GmbH. Profiling encompasses growth opportunities, challenges, market trends, competitive analysis and positioning, and the strategies used by them to stay ahead of their competitors.
New York, May 27, 2022 (GLOBE NEWSWIRE) — According to a report by the World Health Organization, 41 million people die each year from chronic non-communicable diseases, which is equivalent to 71% of all deaths worldwide. Among all chronic diseases, cardiovascular diseases are responsible for 17.9 million deaths per year, followed by cancers – 9.3 million, respiratory diseases – 4.1 million and diabetes which causes 1.5 million deaths. Additionally, according to the US Center for Disease Control and Prevention, 6 out of 10 adults in the United States suffer from a chronic disease.
Research Nester published a detailed market report on ‘Global Virus Clearance Services Market‘ for the forecast period, i.e., 2022-2031, which includes the ongoing industry innovations and recent trends adopted by major industry players to achieve their business goals. Apart from this, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for market players along with global analysis on five major regions, to namely North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
The global virus clearance services market is estimated to generate significant revenue by growing at a CAGR of roughly 21% over the forecast period, i.e., 2022-2031. The market is estimated to grow owing to the growing prevalence of chronic diseases, as well as with the growing demand for specialty drugs globally. Rising cases of non-communicable diseases (NCDs) are sure to increase the demand for viral elimination services. Additionally, the overall growth in healthcare spending across the globe is expected to drive the growth of the market. According to World Bank data, in 2019, 9.84% of GDP was spent on health services across the world. In addition to this, the increasing penetration of specialty drugs in the global market is expected to encourage the growth of the market. In 2019, specialty drugs penetrated approximately 38% of overall generic drug demand in the United States, while in the United Kingdom and Germany, specialty drug penetration was approximately 45% and 49% the same year.
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The global viral clearance services market is segmented on the basis of end-user into Pharmaceutical and Biotech companies and CROs, of which the CRO segment is expected to witness notable market growth throughout the forecast period. This can be attributed to the higher investment capacity of contract research organizations (CROs) for large drug discovery infrastructure. Furthermore, the integration of advanced techniques in the healthcare sector, supported by increasing investments in R&D activities, is expected to provide ample growth opportunities for the segment. According to World Bank data, 2.2% of GDP was spent on R&D activities in 2018.
Further, based on the method, the market is segmented into viral removal and viral inactivation, among which the viral removal segment is expected to garner the largest share during the forecast period, owing to its speed, its higher precision and flexibility. Additionally, rising incidence of viral diseases is expected to further drive the growth of the segment. For example, the COVID-19 pandemic is one of the most recent pandemics caused by a virus (SARS-CoV-2), which caused 6,270,232 deaths, in May 2022, according to the World Health Organization.
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Regionally, the global viral clearance services market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The North America region market is expected to acquire the largest share during the forecast period due to high prevalence of chronic diseases, growing number of drug approvals and presence of major market players in the region. According to CDC data, in 2022, 6 in 10 adults in the United States alone had a chronic condition, while 4 in 10 Americans had two or more chronic conditions. Additionally, these diseases account for approximately US$3.8 trillion in annual healthcare costs in the United States.
The Asia-Pacific market is also estimated to witness notable market growth over the forecast period, driven by growing medical research activities, as well as high prevalence of chronic diseases in developing countries. development. According to WHO statistics, more than 15 million people between the ages of 30 and 69 die from chronic diseases, and 85% of these premature deaths occur in low- and middle-income countries.. Additionally, the presence of a large number of clinical research departments, especially in China, is also expected to drive the market growth in the coming years.
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The study further incorporates YOY growth, demand and supply and forecasts future opportunities in North America (US, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman]North Africa, South Africa, Rest of the Middle East and Africa).
The global virus clearance services market is also segmented on the basis of application.
Global Virus Clearance Services Market; Segmentation by application
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Some of the key players and their company profile mentioned in the report include Merck KGaA, Sartorius AG, Syngene International Limited, Mérieux NutriSciences Corporation, Kedrion SpA, Lonza AG, SGS SA, Charles River Laboratories International Inc., Texcell Inc and Labor Dr. .Merk & Kollegen GmbH.
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