The Viral Inactivation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Viral Inactivation Global Market Report 2024, The viral inactivation market size has grown strongly in recent years. It will grow from $4.54 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to global air traffic growth, enhanced navigation capabilities, commercial aviation expansion, airline cost savings, improved flight safety, reduction in pilot workload.
The viral inactivation market size is expected to see rapid growth in the next few years. It will grow to $7.32 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to autonomous flight development, next-generation aircraft designs, efforts for sustainable aviation, urban air mobility (uam), increasing demand for aircraft. Major trends in the forecast period include integration of advanced avionics, implementation of artificial intelligence, human-machine interface (hmi) innovations, retrofitting existing aircraft, global navigation satellite system (gnss) integration.
Growing instances of various infectious diseases are expected to propel the growth of the viral inactivation market, going forward. Infectious diseases refer to the conditions that transmit from one individual to another, via polluted foods and beverages, and through pathogens such as viruses, bacteria, fungi, and parasites. Viral inactivation is widely applicable in human disease-control programs to inactivate viruses using physical and chemical disinfectants to prevent the spread of contagious viral infections, resulting in the growth of the viral inactivation market. For instance, in December 2022, according to the ‘Annual Epidemiological Report for 2021’, published by European Centre for Disease Prevention and Control, a Sweden-based, European Government Health Agency, 2021, the distribution of hepatitis C cases and rates per 100,000 population, in Germany, reached 4,718 cases and 5.7 rates respectively from 4,536 cases 5.5 rates in 2020. Therefore, the growing instances of various infectious diseases are driving the growth of the viral inactivation market.
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The viral inactivation market covered in this report is segmented –
1) By Product: Kits And Reagents, Systems, Services
2) By Method: Solvent Detergent Method, pH Adjustment Method, Pasteurization, Other Methods
3) By Application: Vaccines And Therapeutics, Tissues And Tissue Products, Blood And Blood Products, Other Applications
4) By End User: Pharmaceutical And Biotechnology Companies, Contract Research Organizations, Blood Banks, Hospital, Academic Research Institutes, Other End Users
The increasing use of technologically advanced processes is a key trend gaining popularity in the viral inactivation market. Companies operating in the viral inactivation market are adopting technologically advanced processes to sustain their position in the market. For instance, in March 2022, WuXi Advanced Therapies, a wholly owned subsidiary of WuXi AppTec, a China-based, biopharmaceutical company, launched Tetracycline-Enabled Self-Silencing Adenovirus (TESSA) Technology. This cutting-edge technology has enabled, the approval of new therapies by conducting all assay formulation, biosafety, viral clearance, product release, and testing, done simultaneously, in-house. This technique is a novel innovative method for producing adeno-associated virus (AAV) at Good Manufacturing Practices (GMP) grade without the need for transfection.
The viral inactivation market report table of contents includes:
1. Executive Summary
2. Viral Inactivation Market Characteristics
3. Viral Inactivation Market Trends And Strategies
4. Viral Inactivation Market – Macro Economic Scenario
5. Global Viral Inactivation Market Size and Growth
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31. Global Viral Inactivation Market Competitive Benchmarking
32. Global Viral Inactivation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Viral Inactivation Market
34. Viral Inactivation Market Future Outlook and Potential Analysis
35. Appendix
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