The most recent study conducted by Report Ocean, titled “Global Virus Filtration Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Virus Filtration. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Virus Filtration Market Size study, By Product (Kits & Reagents, Systems, Services, Others), By Application (Biologicals, Medical Devices, Water Purification, Air Purification), By End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, Medical Device Companies), and Regional Forecasts 2022-2028Global Virus Filtration Market is valued approximately USD 3.65 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.3% over the forecast period 2022-2028.
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Virus filtration is a method that is used to maintain a pathogen-free environment. The presence of various contagious agents such as microorganisms, viruses, bacteria, and others contaminate the water, air, and samples. Virus filtration is playing a vital role in the pharmaceutical industry make sure the purity and consumption of important items. This procedure proficiently maintains the hygiene of the laboratory. The increasing investment in the R&D activities by the leading companies, rising government support for the pharmaceutical & biotechnology sector, and flourishing growth of the biopharmaceutical industry are the major factors that are accelerating the market growth across the globe.
For instance, as per Statista, in 2018, the biopharmaceutical industry was recorded with total revenue of USD 5.28 trillion. Also, the industry witnesses an upsurge and reached USD 7.15 trillion in January 2021. Thereby, the growth of the biopharmaceutical sector is augmenting the demand for virus filtration in the near future. However, stringent regulations for the validation of filtration products and a highly consolidated market impede the growth of the market over the forecast period of 2022-2028. In addition, increasing pharmaceutical outsourcing and the rising adoption of single-use technologies are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Virus Filtration market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growth of the biopharmaceutical industry and the presence of the leading market players in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing incidences of infectious diseases, as well as the development of emerging economies such as India and China, would create lucrative growth prospects for the Virus Filtration market across the Asia-Pacific region.
Major market players included in this report are:
Merck & Co., Inc.
General Electric Company
Thermo Fisher Scientific Inc.
Lonza Group Ltd.
Pall Corporation
Charles River Laboratories International, Inc.
Sigma-Aldrich Corporation
Sartorius AG
Asahi Kasei Medical Co., Ltd.
WuXi PharmaTech (Cayman) Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product
Kits & Reagents
Systems
Services
Others
By Application
Biologicals
Medical Devices
Water Purification
Air Purification
By End User
Pharmaceutical & Biotechnology Companies
Contract Research Organizations
Academic Research Institutes
Medical Device Companies
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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