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Virus Filtration Market Analysis, Trends, Growth, Research And Forecast 2033
Virus Filtration Market Analysis
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According to The Business Research Company's, The virus filtration market size has grown rapidly in recent years. It will grow from $4.88 billion in 2023 to $5.45 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to rise in biopharmaceutical production, growing incidence of viral contaminations, global expansion of biopharmaceutical companies, awareness of viral safety, focus on monoclonal antibody production, demand for single-use systems, increased biomanufacturing capacities, integration of continuous manufacturing.
The virus filtration market size is expected to see rapid growth in the next few years. It will grow to $8.71 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to growth in vaccine production, preparedness for emerging viral threats, expansion of cell and gene therapy, increasing demand for biosimilars, development of high-throughput systems, focus on point-of-use filtration, continuous improvement in product design, flexibility in bioprocessing workflows. Major trends in the forecast period include technological convergence with nanotechnology, integration of artificial intelligence (ai), sustainable filtration technologies, customized filtration solutions, disposable filtration technologies, integration of automation, increased r&d investments, technological partnerships and collaborations.
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Market Drivers and Trends:
The increasing demand in pharmaceutical industry is expected to propel the growth of the virus filtration market going forward. Pharmaceutical industry is a sector of the healthcare industry that is involved in the research, development, production, and marketing of drugs and medications used for medical treatment. Virus filtration is used in the production of biopharmaceuticals, vaccines, and other advanced therapies to deliver safe, effective, and high-quality pharmaceutical products to patients. For instance, in May 2021, according to reports published by IQVIA Inc., a US-based pharmaceutical company, the projected total expenditure on pharmaceuticals in the US is anticipated to range between $380 to $400 billion by the year 2025, reflecting a compound annual growth rate of 0-3%. Therefore, increasing demand in pharmaceutical industry is driving the growth of the virus filtration market.
Technological advancement is a key trend in the virus filtration market. Major companies operating in the virus filtration market are focused on developing new technological solutions to strengthen their position in the market. For example, in January 2022, Integrated Viral Protection (IVP), a US-based technology startup launched an advanced airborne virus filtration unit at CES 2022, a tech event in Las Vegas, the USA. The advanced unit kills airborne viruses in a single pass covering sub-micron variants causing COVID-19, anthrax spores, and allergens. It incorporates IVP's patented 'catch and kill virus' technology to kill airborne viruses.
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Major Key Players of the Market:
Merck & Company Inc., GE Healthcare, Thermo Fisher Scientific Inc., Lonza Group Ltd., Pall Corporation, Charles River Laboratories International Inc., Sartorius AG, Asahi Kasei Medical Co. Ltd., WuXi AppTec, Danaher Corporation, Sigma-Aldrich Corporation, Clean Cell Inc., Pendotech, Purafil Inc., Qiagen NV, Parker Hannifin Corporation, Eaton Corporation, Freudenberg Group, Entegris Inc., Meissner Filtration Products Inc., Koch Membrane Systems Inc., Graver Technologies LLC, Amazon Filters Ltd., Cobetter Filtration Equipment Co. Ltd., Sterlitech Corporation, Membrane Solutions LLC, Advantec MFS Inc., GVS Group, Porvair Filtration Group, Eaton Filtration LLC
Virus Filtration Market 2024 Key Insights:
• The virus filtration market size is expected to see rapid growth in the next few years. It will grow to $8.71 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%.
• Rising Incidence Of Chronic Diseases Fuels Growth In The Virus Filtration Market
• Integrated Viral Protection Unveils Advanced Airborne Virus Filtration Unit, Spearheading Market Innovation
• North America was the largest region in the virus filtration market in 2023
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