The competitive landscape of the market for viral inactivation market is a fragmented one characterized with the presence of quite a few large players, according to a report published by Transparency market research. It is revealed in the report that these leading players which are operating in the market account for most of the market share. Some prominent companies in the world market of viral inactivation are Thermo Fisher Scientific Inc., V.I.P.S. SA. Merck & Co., Inc., Shandong Weigao Group Medical Polymer Company Limited, Cerus Corporation, Macopharma SA, Terumo BCT, Inc., and Merck & Co, Sartorius AG. The major players are now shifting their emphasis on research and development of viral inactivation to obtain upper hand and stay ahead in this competitive market. These leading companies are also emphasizing on the expansion of their geographical reach through associations with local players.
The market for world viral inactivation was worth around US$ 3.05 bn in the year 2016, and is estimated to reach a value of around US$ 5.736 bn over the forecast period that stretches from 2017 to 2025. The market for viral inactivation is likely to expand at a fairly good CAGR of 7.4%.
A Cost Effective Alternative to Expensive Biologics Brand
Regulatory guidelines by many such authorities that are meant to safeguard the viral safety pertaining to the biologics products, immense and fast growth of the industry of biosimilars and biologics, and approval of several new drugs are all set to fuel the growth of the market for viral inactivation. Much of the impetus that is needed for the growth of the market for viral inactivation is obtained from these aforementioned factors.
At the backdrop of the increasing requirement for cost effective yet a generic treatment that would serve as an alternative to high-cost biologics brand, the demand for biosimilars products are soaring in both developing and developed countries. As a matter of fact, in near future biopharmaceutical products that are valued at several billions of US dollars are expected to go off patents thereby providing a major push for the said market.
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In addition to that, the increasing incidences of contagious diseases coupled with more and more usage of biosimilars therapeutic treatment in a wide variety of diseases are also expected to play the role of positive influencer for the market.
There are, however, restraining factors that mar the progress of the market as well. There is a high cost that is associated with the manufacturing and development of biosimilars and biologics products. The equipment that are involved with viral inactivation also come very expensive and thus restrain the market growth.
Nevertheless, with the development of new vaccines that come at the backdrop of appearance and prevalence of many new viruses is forecasted to offer new opportunities for the market for viral inactivation.
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North America to Continue to Play Dominant Role in the Market for Viral inactivation
In terms of geography, the market of world viral inactivation market is categorized into Middle East and Africa, Latin America, Europe, Asia Pacific and North America.
North America is leading the market for viral inactivation so far as the market in terms of geographical dominance is concerned. The dominance of the region is owing to the growing demand for vaccine and blood products and blood in the region. Furthermore, the presence of sound biopharmaceutical industry together with quick adoption of latest methodologies of viral inactivation, stringent measures to safeguarding the viral safety of prevailing biologics products will fuel the market growth of the region. The report also indicates that there will be immense opportunities in the emerging economies of Asia Pacific and South America.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.