Emerging Opportunities and Current Trends for Virus Filtration Market
Posted by Ryan Shaw on August 2nd, 2019
The global Virus Filtration Market size is expected to reach USD 7.0 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 12.7% during the forecast period. Increasing demand for biological products such as vaccines, therapeutic proteins, blood and blood products, cellular and gene therapy, tissue, and stem cell products is a major factor driving the growth. Biopharmaceuticals are mainly derived from human, animal, and plants and therefore require a scrutinized virus filtration procedure to avoid virus contamination in the production. Therefore, the necessity of this procedure during the production of biologics is expected to boost the market growth.
Many leading biopharmaceuticals and biotechnology manufacturers are involved in R&D to develop innovative biological products. For instance, in 2016, Pfizer Inc. invested USD 7,872.0 million in R&D, which was around 8% more than the R&D investment in 2015. This investment was mainly made to boost innovation and productivity in R&D to accomplish a sustainable pipeline of vaccines and differentiated therapies with lucrative commercial opportunities. Virus filtration is an important step in biologics development, thus, increasing R&D on biologics is expected to drive the product demand.
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Further key findings from the report suggest:
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About the AuthorRyan Shaw
Joined: August 11th, 2017
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