Market Trends of Global Viral Clearance Services Industry
This section covers the major market trends shaping the Viral Clearance Services Market according to our research experts:
Recombinant Proteins Segment is Expected to Dominate the Market During the Forecast Period
Large-scale recombinant protein production is becoming progressively critical for applications in the field of proteomics, structural biology and protein therapeutics. When large quantities of protein need to be produced cells must be cultured in large volume by the implementation of fermentation techniques. As the production of these proteins increases the demand for the viral clearance process also increases.
The major factors driving the growth of the segment are the increasing demand for biopharmaceuticals for treating chronic conditions like diabetes cancers, and these drugs are forging their ways in the field of inflammatory disease management, such as psoriasis, multiple sclerosis, rheumatic diseases, and inflammatory bowel diseases. The introduction of recombinant proteins has revolutionized the development and manufacturing processes of biotherapeutics. The number of recombinant drugs is expected to grow further as multiple biologics and vaccines consisting of recombinant proteins are currently in the pipeline and are expected to get FDA approval. Thus, considering all the above mentioned factors the market is expected to grow.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall viral clearance services market, throughout the forecast period. The largest share is mainly due to the presence of key players and their usage of advanced medical technologies to develop. The rise in the production of recombinant proteins, and vaccines and the necessity to keep them risk-free and virus-free, is the major factor for the growth of the market. Furthermore, growing awareness among the population to use biopharmaceuticals and thus increasing demand for viral clearance services.
Additionally, increasing funding for pharmaceuticals across the United States is contributing to the growth of the market studied. The American pharmaceutical industry creates a wide range of brand-new medications each year that have significant clinical advantages. Many of those medications are costly, which drives up the cost of healthcare for both the federal government and the private sector. Lawmakers have considered measures that would cut federal spending on drugs and lower drug prices. Such regulations will likely lessen the industry's incentive to produce innovative medicines. In the year 2020, the federal government in the United States invested USD 11 billion in late-stage vaccine development and expansion of manufacturing capacity through Operation Warp Speed and the Biomedical Advanced Research and Development Authority.
Hence, with the above-mentioned factors, the market for viral clearance is expected to witness strong growth in the North America region.
