The global viral clearance market size was USD 492.9 million in 2021. The market in 2022 was valued at USD 535.6 million and is expected to reach USD 1,519.7 million by 2029, exhibiting a CAGR of 16.1% during the forecast period. Robust investments in biotechnology, pharmaceutical products, rising research and development activities, and increasing healthcare expenditures may fuel industry progress. Fortune Business Insights™ presents this information in its report titled “Viral Clearance Market, 2022-2029.”
Viral clearance is crucial in manufacturing biosimilar, stem cell products, biopharmaceuticals, antibodies, and others. Robust investments in biotechnology are expected to boost the clearance’s adoption. Furthermore, increasing investments in pharmaceutical products may foster industry development. Moreover, the rising research and development activities are expected to bolster the process’ sales. In addition, the rising healthcare expenditures may fuel the industry's growth.
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Declining Diagnosis Procedures to Impede Market Development
This market is expected to be negatively affected during the COVID-19 pandemic due to declining diagnosis procedures. The alarming spike in COVID patients led to restrictions on surgical procedures. Furthermore, lack of medical equipment and beds is expected to impede the industry’s growth. However, post-COVID relaxations may enable healthcare providers to balance costs. This factor may promote market growth during the pandemic.
By method, the market is segmented into viral removal method, viral inactivation method, and viral detection method. Based on application, it is classified into blood and blood products, recombinant proteins, cellular gene therapy products, vaccines, and others. As per end-user, it is categorized into pharmaceutical and biotech industry, academic research institutes, CROs, and others. Geographically, it is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East Africa.
For More Information : https://www.fortunebusinessinsights.com/viral-clearance-market-105611
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