The Virus Filtration Market is estimated to be valued at US$ 5.08 Bn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Virus filtration is a critical safety step in the manufacturing process of biologics and other pharmaceutical products. Virus filters work by physically separating viruses from samples based on size. They successfully remove viruses without denaturing or destroying the product being purified. Common virus filters include membrane filters and other filters that strain out contaminating viruses to prevent their transmission.
Market key trends:
The growing demand for biopharmaceuticals, vaccines and other injectable drugs to treat various chronic diseases like diabetes, cancer and cardiovascular diseases is expected to propel the virus filtration market growth over the forecast period. Biologics are derived from living organisms and difficult to manufacture as they are prone to contamination by viruses. To ensure the safety of these biologic products, virus filtration is essential to remove any viruses and provide sterile and pure products for end-use. Stringent regulatory guidelines by FDA and other regulatory bodies further necessitate the integration of virus filtration in biopharmaceutical manufacturing. This has strong positive impact on the adoption of advanced virus filtration technologies.
Porter’s Analysis
Threat of new entrants: The Global Virus Filtration Market Size requires significant financial investments on research and development of technologies. This raises the entry barriers for new players.
Bargaining power of buyers: The availability of alternative virus filtration technologies gives buyers bargaining power. They can negotiate lower prices by sourcing from multiple suppliers.
Bargaining power of suppliers: Major suppliers in this market have established their technological leadership, allowing them to influence prices. however, the presence of many regional suppliers balances this power.
Threat of new substitutes: No close substitutes exist for virus filtration as it is a crucial step in production processes. However, continuous research can lead to new technologies that pose a threat.
Competitive rivalry: Being an emerging technology, competitive rivalry is high among established global players to gain market share through capacity expansion and new product launches.
SWOT Analysis
Strength: The virus filtration market is driven by growing biologics manufacturing and stringent regulations for ensuring safe and high-purity products.
Weakness: High capital investment requirements pose challenges for small players to establish themselves in this technology-intensive market. Membrane fouling can reduce filter performance over multiple uses.
Opportunity: Asia Pacific presents lucrative opportunities due to increasing biologics production and presence of CMOs catering to global drug makers. Continuous advancements in filtration media widen the scope for novel products.
Threats: Changes in regulatory guidelines for biosimilars can delay approval timelines. Economic slowdowns impact the production volumes of end-use industries.
Key Takeaways
The global virus filtration market is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing demand for biologics. Biologics manufacturing has grown significantly to treat chronic diseases, and virus filtration is crucial to ensure product safety. The global biologics market was valued at over US$ 300 Bn in 2023.
Regionally, North America dominated the virus filtration market in 2023 with over 30% share owing to well-established pharmaceutical industries and presence of major market players in the US. However, Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period, driven by increasing investments by international drug makers in China, India, and South Korea. These countries offer cost benefits and skilled workforce.
Key players operating in the virus filtration market are Wuxi Biologics, Clean Cell Inc., Sartorius AG, Pall Corporation, Merck KgaA, Lonza Group Ltd., General Electric Company, Thermo Fischer Scientific Inc., Asahi Kasei Medical Co. Ltd., and Charles River Laboratories International Inc., among others. Major players are focusing on product launches and partnerships to strengthen their distribution networks across lucrative regions.
