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11 Jul, 2022, 14:15 BST
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The Virus Filtration Market has witnessed strong growth owing to the increasing number of chronic diseases, Moreover, the rapid growth in the R&D sector and discoveries, and government support are also propelling the growth of the market.
JERSEY CITY, N.J., July 11, 2022 /PRNewswire/ — Verified Market Research recently published a report, "Virus Filtration Market" By Type (Kits and Reagents, Services, Filtration Systems), By Application (Medical Devices, Water Purification, Air Purification), By End-user (Pharmaceutical & Biotechnology Companies, Contract Research Organizations), and By Geography. According to Verified Market Research, the Virus Filtration Market size was valued at USD 3.21 Billion in 2020 and is projected to reach USD 8.35 Billion by 2028, growing at a CAGR of 12.60 % from 2021 to 2028.
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Browse in-depth TOC on "Virus Filtration Market"
202 – Pages
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Global Virus Filtration Market Overview
The global Virus Filtration Market is principally driven by the increased incidence of chronic diseases, including cancer, diabetes, and autoimmune disorders. According to the report of the World Health Organization, cancer is the second principal cause of death globally. Globally, approximately 1 out of 6 deaths is due to cancer. This supports the research and development expenditures by biopharmaceutical companies to bring more variation where virus filtration techniques are extremely useful. Hence, the upsurge in research & development expenses coupled with government initiatives also boosts the market globally.
In addition, rapid growth in the demand for biopharmaceutical products is another crucial factor driving the growth of the global Virus Filtration Market. The ability of biotherapeutics to treat diseases and ailments and not merely its symptoms with high efficacy and minimal side effects has been crucial in the continual adoption of these products. Moreover, the increasing adoption of single-use technologies, coupled with rapid technological advancement is anticipated to propel the market growth during the forecast period. Despite having numerous advantages of virus filtration, some factors restrain and challenge market growth. The rigorous rules & regulations regarding the filtration of products is the major factor expected to restrict the growth of virus filtration during the forecast period.
The major players in the market are Merck KGaA, GE Healthcare, Thermo Fisher Scientific Inc., Lonza Group Ltd., Pall Corporation, Charles River Laboratories International, Inc., Sigma-Aldrich Corporation, Sartorius AG, Asahi Kasei Medical Co., Ltd., and WuXi PharmaTech (Cayman) Inc.
Verified Market Research has segmented the Global Virus Filtration Market On the basis of Type, Application, End-User, and Geography.
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