The global viral
inactivation market is anticipated to reach USD 5.1 billion by 2025,
growing at a CAGR of 12.5%, according to a new report by Grand View Research,
Inc. Rise in the number of pharmaceutical and biopharmaceutical companies,
increase in FDA drug approvals, growth of the life sciences industry, increase
in government funding for novel therapies, and drug development are some of the
major factors contributing to the growth.
Immense growth has been witnessed in the
pharmaceutical and biopharmaceutical industry with a steady rise in the number
of companies, drug launches, and new drug discoveries. With an increase in the
number of diseases worldwide, the need for new & improved drugs and
therapies has been witnessed on a global front. Increase in investment by top
players in research and development coupled with the need to find new therapies
for the treatment of diseases has contributed to immense growth of
pharmaceutical and biopharmaceutical companies, thereby accelerating growth.
Newer drugs are being developed by companies to offer
incremental health benefits. Changing lifestyle of people across the globe and
adoption of sedentary living habits are primary reasons responsible for the
increase in the number of chronic diseases that require drugs and therapies for
treatment. According to the FDA, in the year 2014, 41 novel drugs were approved
and 45 in the consequent year. This has also been contributing to growth.
Immense funding has been witnessed in the
pharmaceutical and biotechnology industries in the recent years. It has been
observed that private players are the major contributors for the development of
new drugs and therapies, however, there has been increasing government spending
on the research and development of new therapies. Increase in funding has also
resulted in growth in number of FDA approvals over the recent years. All these
factors have been contributing to the immense growth of the market.
Browse full research report on Viral Inactivation Market: https://www.grandviewresearch.com/industry-analysis/viral-inactivation-market
Further
Key Findings From the Study Suggest:
- Kits and reagents held the largest share owing to increasing usage
of consumables
- Vaccines and therapeutics held the largest share, on the basis of
application, and is expected to be the fastest growing segment due to the
increased demand for biologics
- The services segment is anticipated to grow at the fastest rate due
to increase in the number of pharmaceutical CROs globally
- North America accounted for the largest share owing to presence of
dominant players and availability of sophisticated infrastructure along
with healthcare reforms to curb the incidence of chronic diseases
- The Asia Pacific region is expected to flourish during the forecast
period owing to healthcare reforms and untapped market opportunities in
the pharmaceutical industry
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/biotechnology
Grand
View Research has segmented the global viral inactivation market on the basis
of product, application, end use, and region:
Viral
Inactivation Product Outlook (Revenue, USD Million; 2014 - 2025)
- Kits and
Reagents
- Systems
- Services
Viral
Inactivation Application Outlook (Revenue, USD Million; 2014 - 2025)
- Vaccines and
Therapeutics
- Stem Cell
Products
- Blood
Tissue/Tissue Products
- Blood and
Blood Products
- Cellular and
Gene Therapy
Viral
Inactivation End-use Outlook (Revenue, USD Million; 2014 - 2025)
- Pharmaceutical
and Biopharmaceutical Companies
- CROs
- Academic and
Research Institutes
- Others
Viral
Inactivation Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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