Escalation In Chronic Diseases Leading To Increase In Healthcare Expenditure Is Expected To Drive Viral Inactivation Market Till 2025: Grand View Research, Inc.
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.
Viral inactivation market revenue by product, 2014 - 2025 (USD million) |
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: www.grandviewresearch.com/industry-analysis/viral-inactivation-market
Further key
findings from the report 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: 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
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-viral-inactivation-market
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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