Virus Purification Kits Market Is Expected to Advance at a Striking CAGR of ~11% During 2020 – 2030
Virus Purification Kits Market: Introduction
Transparency Market Research has published a new report titled “Virus Purification Kits Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030”. According to the report, the global virus purification kits market was valued at US$ 1.1 Bn in 2019. It is expected to expand at a CAGR of ~11% during the forecast period from 2020 to 2030. Recombinant viral vectors are highly promising tools for both in vitro and in vivo gene transfer, and oncolytic virus show encouraging results for cancer & other related treatment.
Virus purification kits provide fast and simple procedures to concentrate and purify viral vectors from cell lysate and cell culture media. A large number of vaccines are produced from cell-culture derived virus particles. Downstream purification strategies can be expensive and account for 70% of the overall manufacturing costs, which has been fueling the demand for innovative technologies for virus purification in the last few years. North America dominated the global virus purification kits market, in terms of revenue, in 2019. It is expected to continue its market dominance by the end of 2030.
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Rise in Research Funding by Public and Private Players to Drive Market
R&D is a vital source of innovation, as it contributes to critical knowledge-based assets as well as strengthens absorptive capacities. Furthermore, an increase in competition in the market is prompting companies to focus on R&D by allocating more resources, both in the form of investments and trained workforce. For instance, Danaher Corporation’s investment in research & development increased from ~US$ 956 Mn in 2017 to US$ 1.1 Bn in 2019. The higher yield of virus particles received with the help of virus purification kits is also fuelling the global virus purification kits market.
Increase in support from governmental bodies for biotechnology and pharmaceutical industries and consistent expansion of biopharmaceutical & biotechnology industries are major factors driving the global virus purification kits market.
Chromatography to be Lucrative Technology
Based on technology, the global virus purification kits market has been divided into ultracentrifugation, chromatography, nanofiltration, and others. The ultracentrifugation segment dominated the global virus purification kits market due to cost-effective methods and the availability of a large number of products by major companies. Chromatography is likely to be a highly lucrative segment during the forecast period, owing to faster processing time, higher recovery rate of virus, simple methods, and highly purified virus offered by this technology.
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Adenovirus Dominated Global Market
In terms of virus type, the global virus purification kits market has been segmented into adenovirus, lentivirus, retrovirus, and others. The adenovirus segment accounted for a major share of the market in 2019. It is expected to dominate the global virus purification kits market by 2030. Higher yield of adenovirus particles by latest virus purification kits, major application in viral vector based drugs, and rising incidence of adenoviruses-associated respiratory diseases are key drivers of the segment.
Contract Research Organizations (CROs) to be Promising End User
Based on end user, the global virus purification kits market has been divided into academic & research institutes, biopharmaceutical & biotechnology companies, contract research organizations (CROs), and others. The biopharmaceutical & biotechnology companies segment dominated the global virus purification kits market in 2019 due to the rise in adoption of biotherapeutics across the globe and research activities for drug discovery. Contract research organizations (CROs) is a highly lucrative segment, which is expected to expand at a high CAGR during the forecast period, owing to investments in R&D and initiation of research projects across the globe.
North America to Lead Global Market
In terms of region, the global virus purification kits market has been divided into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global virus purification kits market in 2019, owing to favorable policies & regulatory scenario established by governments for biopharmaceutical industries in the region, highly developed healthcare sector, increase in preference for biopharmaceuticals over conventional counterparts, and continuous evolution of technology. A survey report conducted by Pharmaceutical Researchers and Manufacturers of America (PhRMA) indicated that the total pharmaceutical R&D expenditure in the U.S. was US$ 48.6 Bn in 2011, which increased to US$ 71.4 Bn in 2017. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period due to the expansion of the healthcare sector, growing clinical trials for new drug development, and low cost of products and labor in the region.
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Competition Landscape
The global virus purification kits market is fragmented in terms of number of players with entry of several new players in recent years. Key players in the global market include Merck KGaA, Danaher Corporation, Thermo Fisher Scientific, Inc., Sartorius AG, Lonza Group Ltd., Asahi Kasei Corporation, BioVision Inc., PendoTECH, QIAGEN, and Takara Bio Inc. Mergers, acquisitions & strategic collaborations, and new product & technology launches in recent years have been major strategies adopted by major companies in the virus purification kits market.
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