Viral Inactivation Market Growing Demand of Kits and Reagents Viral Inactivation Product

According to Precision Business Insights (PBI), the latest report, the Viral Inactivation market is expected to be worth USD 2.1 billion in 2022, growing at a 12.8% CAGR from 2022 to 2028. The primary driver of the expansion of the global Viral Inactivation market are speedy growth in pharmaceutical and biotechnology industries and strong inclination of R&D investments in life sciences industry.

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Kits & Reagents Segment to Dominate the Viral Inactivation Market:
Kits and reagents are expected to account for a larger revenue share in the global viral inactivation market owing to their continuous usage by pharmaceutical and biopharmaceutical companies. One of the viral inactivation products with the highest rate of demand and easier to use are kits & reagents. With the number of pharmaceutical and biotech companies and a rise in R&D investments for novel drug development, the practice of kits and reagents has increased enormously. Thus, Kits & reagents allow healthcare sectors to display advanced innovation, which would expect to enhance the market demand for this viral inactivation product.

North America Viral Inactivation Market:
The North American market is expected to increase in the global Viral Inactivation market over the forecast period. North America dominates the viral inactivation market in standings of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the prevailing advanced healthcare technologies and rising research and development proficiencies. On the other hand, Asia Pacific is projected to exhibit the highest growth rate during the forecast period owing to the growing prevalence of chronic diseases and increased expenditure for developing healthcare infrastructure. Additionally, government funding in the advanced research for approval of new drugs is anticipated to fuel the market expansion in the area.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Viral Inactivation market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Feb 2021, RNAssist Labs Ltd launched virusPHIX™ virus inactivation medium. In Nov 2021, Valneva and IDT Biologika announced a collaboration for the production of inactivated COVID-19 vaccine VLA2001.

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The Viral Inactivation market is segmented based on product, method, application, and geography.
Based on the product, the market is segmented into the following:
• Kits and reagents
• Viral inactivation systems
• Services
• Accessories

Based on the method, the market is segmented into the following:
• Pasteurization
• Solvent Detergents
• Others

Based on the application, the market is segmented into the following:
• Blood & blood products
• Tissue & tissue products
• Vaccines and therapeutic
• Cellular & gene therapy products
• Stem cell products
• Others

Based on the end user, the market is segmented into the following:
• Pharmaceutical and biotechnology companies
• Contract research organizations
• Academic research institutes
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the Viral Inactivation market report are Parker Hannifin (U.S.), Clean Cells (France), Charles River Laboratories International, Inc. (U.S.), Sartorius AG (Germany), Danaher Corporation (U.S.), Merck KGaA (Germany), SGS S.A. (Switzerland), Texcell, Inc. (France), Viral Inactivated Plasma Systems SA (Switzerland), and WuXi PharmaTech (Cayman) Inc. (China), Rad Source Technologies (U.S.)

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This release was published on openPR.