A popular strategy with savvy players in the global Viral Inactivation Market trying to bolster their positions is the thrust on acquisitions. Besides, they are also investing heavily in research and development to come up with new products in response to various requirements for treating diseases. A dominant players in the market, namely Merck & Co., Inc., is seen to have a stronghold across nations worldwide.
At the forefront of driving growth in the global market for viral inactivation is the rising approvals of new drugs, rules pertaining to viral safety of biologics, and the proliferation of the biologics and biosimilars industry. Besides, the growing instances of various infectious diseases and growing application of biosimilars therapeutic treatment for a range of diseases are also positively impacting the market.
Proving counterproductive to the market, on the downside, is the high costs involved in developing and manufacturing biologics and biosimilars products and also the high price of equipment for viral inactivation. However, new types of viruses needing vaccinations to be developed against them spells new opportunities for the market. A report by Transparency Market Research predicts the global viral inactivation market to expand at a healthy 7.4% CAGR from 2017 to 2025 to become worth US$5.736 bn by 2025 from US$3.05 bn in 2016.
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Depending upon the type of method, the global viral inactivation market can be divided segmented into chemical, radiation, and others such as pasteurization and dry and moist heat treatment. Of them, the chemical method leads the market with maximum share as it is a robust and effective method of inactivation of different types of viruses. It is also cost-effective, safe, and brings about a high degree of purity of sample. The chemical method is further sub-segmented into solvent detergent method, use of alkylating agent method, and pH concentration method. The solvent detergent method, among them, is projected to account for largest market share by the end of 2025.
In terms of growth rate, however, the radiation method for viral inactivation is expected to outpace all others on account of the rising adoption of the method in blood centers in developed nations. The UV radiation method has been tested and developed for viral inactivation of blood and blood components at blood centers and at commercial manufacturing facilities.
From a geographical standpoint, North America currently holds a sway over the global market on account of a robust biopharmaceutical industry, swift uptake of newer viral inactivation methodologies, rising demand for blood and blood components for transfusion therapy, and strict regulatory guidelines for the viral safety of biologics products. By growing at a CAGR of 7.2% in the forecast period, the market will likely become worth US$2.31 bn by 2025.
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