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Albany, New York, Jan. 30, 2019 (GLOBE NEWSWIRE) -- The TMR report projects the global viral clearance service market to register an impressive CAGR of 14.9% from 2018 to 2026. By the end of 2026, the market will be worth US$902.1mn, predicts the report.
Out of the various applications of viral clearance service, the demand for recombinant protein is expected to remain high in the next few years as they play important role in clinical trials and regulatory framework. Region wise, Asia Pacific is expected to lead the global viral clearance service market in the coming years. This is attributed to increased healthcare infrastructure and life science research in the region.
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Growing Demand for Specialty Drugs to Fuel Global Viral Clearance Service Market
Viral clearance service ensures harmless development of a biological product. Several viral safety assays and viral clearance processes help in developing risk-free and viral-free medicinal products. Growing demand for virus inactivation/removal in products, increasing need for detection of virus at the early stages of development, rising research and development activities, and growing demand for outsourcing viral clearance service for contracting research organizations are factors driving the global viral clearance service market. Along with all these, increasing consumer awareness about health safety, growing demand for health care and vaccination, and rising concern blood-derived product’s viral effects are also fueling the global viral clearance service market.
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Furthermore, the incorporation of technology in the field of biology such as chromatography, and nanofilteration helps in determining the level of virus clearance. Thus, many pharmaceutical companies are focusing on heavy investments in research and development activities for restructuring the regulations for viral safety. All such factors boosting the global viral clearance service market. Apart from this, rising pharmaceutical companies, rapid improvement of healthcare infrastructure, and growing focus on specialty drugs are also propelling the global viral clearance service market.
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Rising Need for Viral Removal/Inactivation to Boost Viral Clearance Service Market
Viral removal and viral inactivation method helps in removing different types of virus. This process ensures safety along with high degree of purity of sample. Processes such as radiation, chemical, and moist and dry heat treatment helps further in viral inactivation process. Growing demand for viral removal and inactivation is fueling the global viral clearance service market.
Transparency Market Research (TMR) notes that the global viral clearance service market is categorized by the presence of several large and small players operating in it. The rivalry between the potential players is likely to increase as they aim at adopting various strategies to offer testing of several new target therapies.
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Among multiple strategies adopted by players in the global viral clearance service market to stay ahead of the competitors, rapid advancement in biologics and bio-similar products has paid off the most. The global viral clearance service market is expected to grow steadily due to the existence of potential large players who are heavily investing in research and development activities. Some of the leading players in the global viral clearance service market are Taxcell, WuXi AppTec, Vironova Biosafety, Clean Cells, and Merck KGaA.
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The information presented in this review is based on a TMR report, titled “Viral Clearance Service Market (Application - Recombinant Proteins, Tissue and Blood Derived Products, Vaccines; Method - Viral Removal, Viral Inactivation (Chemical, Radiation); End user - Biopharmaceuticals, Contract Research Organizations, Academic Research Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
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