The global Viral Inactivation Market generated revenue of USD 545 million in 2022 and is expected to reach USD 1,183.68 million in 2032, with a rapid revenue CAGR of 9% during the forecast period. The market's growth is driven by the increasing demand for biopharmaceuticals, advancements in technology, and the healthcare industry's growing awareness of the risks associated with viral infections.
Viral Inactivation is a crucial step in the manufacturing of various products, including monoclonal antibodies, recombinant proteins and glycoproteins, tissue and blood-derived products, and medical devices. The goal is to eliminate or neutralize any viruses present in order to ensure that the final product is microbiologically safe and stable.
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The prevalence of chronic diseases such as cancer and autoimmune diseases is also driving revenue growth in the market. Viral Inactivation processes have led to the development of novel treatments and biologics to ensure product safety and effectiveness. The need for biopharmaceuticals is increasing due to the rising elderly population and healthcare costs. Technological breakthroughs have led to the emergence of new and innovative viral clearing approaches, which include chromatography, nanofiltration, and Ultraviolet (UV) radiation.
The market is experiencing revenue growth due to the increasing awareness of viral safety in the healthcare industry. Regulatory agencies like the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have established stringent regulations and guidelines to ensure the safety of biopharmaceutical products in response to the growing incidence of viral diseases like HIV, hepatitis, and Zika virus.
The rising demand for gene treatments and personalized medicine is also expected to drive revenue growth in the market. Viral Inactivation services are in high demand due to the strict Viral Inactivation procedures required for these therapies to ensure the product's safety and effectiveness.
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The global Viral Inactivation market is dominated by several large and medium-sized companies that collectively generate a significant portion of the market revenue. To maintain their competitive advantage, these companies are implementing various strategies such as mergers and acquisitions, forming strategic agreements and contracts, and developing more effective products through testing and research. Key players in the market include General Electric Company, Wuxi Biologics, SGS SA, Sigma-Aldrich Co., LLC, Danaher Corporation, Lonza Group Ltd., Merck KGaA, Thermo Fisher Scientific Inc., KANEKA Corporation, and Charles River Laboratories International, Inc.
However, the market faces challenges due to the high cost of viral clearing treatments and a shortage of qualified doctors. Viral clearing methods are complicated and require the use of expensive equipment and qualified personnel, resulting in higher costs. This cost factor may impede revenue growth in the market. Various government agencies such as the World Health Organization (WHO), the U.S. Food and Drug Administration (FDA), the European Commission, and the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH) regulate the global Viral Inactivation market.
Based on the method, the global Viral Inactivation market is segmented into Viral Inactivation and Viral Inactivation. The Viral Inactivation segment accounted for the largest revenue share in the global Viral Inactivation market in 2022. The Viral Inactivation segment is expected to register moderately fast revenue growth during the forecast period.
Based on the application, the Viral Inactivation market is segmented into biologics, vaccines, gene therapy, blood and blood products. The biologics segment is expected to register the fastest revenue growth rate during the forecast period, while the vaccines segment is expected to account for a significantly large revenue share in the global Viral Inactivation market during the forecast period.
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