Virus Filtration Market
Virus Filtration Market
Global Virus Filtration Market- Trends, Demand, Growth, Value & Analysis Report by Zion Market Research
The global virus filtration market reached USD 3.59 billion in 2021 and is projected to grow with a compound annual growth rate of approximately 11.9 percent to reach about USD 7.24 billion by 2028. ”
— Prakash Torase
SUITE N202, NEW YORK, UNITED STATES, January 16, 2023 /EINPresswire.com/ — The global virus filtration market reached USD 3.59 billion in 2021 and is projected to grow with a compound annual growth rate of approximately 11.9 percent to reach about USD 7.24 billion by 2028. The report analyzes the virus filtration market’s drivers, restraints, challenges, and the effect they have on the demands during the projection period. In addition, the report offers significant opportunities that could boost the global virus filtration market,s over the forecast period
Virus filtration is the process of retaining virus particles with the help of a filtering membrane. Specially designed membrane particles are used for retaining the virus particles either on the surface or in the pores. The membranes are designed based on the size of the particles which are to be filtered. The global virus filtration market has the highest revenue share registered by the biopharmaceutical industry. Since animals, plants, and synthetic products are the main raw materials used for the manufacturing of biopharmaceutical products, these products are prone to easy contamination and virus filtration technology is used for their purification. The global market has a presence in the air and water purification processes as well.
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The global virus filtration market is projected to register a high CAGR during the forecast period because of the increase in the manufacturing of biopharmaceutical products that are used as vaccines, antigens, enzymes, gene therapies, monoclonal antibodies, etc. & are of absolute importance for the healthcare industry. Growing R&D by key market players and governments for improvement in biopharmaceutical products along with rising investment in the global healthcare sector is anticipated to contribute to the global market growth.
The biological products dealing with the virus are susceptible to environmental hazards, health, and large business losses if not handled correctly. Hence stringent regulations are in place to monitor and inspect the production process of these products. This is anticipated to restrict the global market growth. The global market is expected to explore newer opportunities with the advent of nanofiber technology. However, issues with continuous filtration are anticipated to pose a major challenge in the global market growth.
Global Virus Filtration Market
The global virus filtration market is categorized into product, application, end end-user, and region. By product, the market is further bifurcated into kits & reagents, virus filtration systems, and services. The applications of virus filtration are categorized into water purification, medical devices, biologicals, and air purification. The end-user segment of the market is divided into research institutes, contract research organizations, medical devices companies, and pharmaceutical & biotechnology firms.
North America is anticipated to generate the highest revenue in the global virus filtration market share during the forecast period owing to the presence of large-scale biopharmaceutical manufacturers in the region. The government initiatives to invest heavily in research facilities working on the development of biologic medical products are anticipated to assist the region in registering a high CAGR.
Asia Pacific is expected to boost the regional market growth with significant revenue owing to robust R&D initiatives by private drug manufacturers as well as increased government funding for the advancement of the healthcare sector.
Europe & the Middle are anticipated to register steady market growth followed by Latin America & Africa.
Key players functioning in the global virus filtration market include General Electric Company, Sartorius AG, Thermo Fischer Scientific Inc., Danaher Corporation, Clean Cell Inc., Charles River Laboratories International Inc., Wuxi Biologics, Lonza Group Ltd., and Asahi Kasei Medical Co. Ltd. among others.
August 2021, Honeywell unveiled its coronavirus “drop-in” filter. The following would be in the form of a coating capable of eradicating 97 percent of the Sars-Cov-19 virus. Furthermore, the product introduction is targeted at schools and government offices that already have heating and cooling systems in place and don’t want to spend a lot of money on denser filtration.
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Global virus filtration market is segmented as follows:
Virus Filtration Systems
Kits & Reagents
Pharmaceuticals & Biotechnology Companies
Medical Devices Companies
Contract Research Organizations
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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