Viral Inactivation Kit Market: Introduction
Viral inactivation kit is used to avoid viruses in a given sample from contaminating the target substance, either by entirely killing viruses or by making them non-infectious. These methods are commonly utilized in the food and blood plasma sectors, since they can be weakened by the presence of viral particles.
Viral inactivation stops viruses from infecting. Several viruses contain lipid or protein coats that can be inactivated by chemical modification. In viral inactivation, the surface chemistry of the virus is changed, and in numerous cases, viral particles exist in the finished product.
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Key Drivers, Restrains, and Opportunities of Global Viral Inactivation Kit Market
Increase in the global prevalence of infectious diseases such as cancer, autoimmune disorders, and other diseases along with an increase in healthcare spending are key factors boosting the viral inactivation industry. For instance, in 2019, the American Cancer Society announced that there would be 1,762,450 new diagnosed cases of cancer and 606,880 cancer deaths in the U.S., which are predicted to further increase during the forecast period. Consequently, demand for the production of innovative therapies is projected to boost the market during the forecast period. For instance, in January 2021, The U.S. Food and Drug Administration approved Cabenuva, an injectable formulation as a full procedure for the treatment of human immunodeficiency virus type 1. Viral inactivation is a critical step that is necessary in the manufacture of these formulations in order to avoid infection and prevent any death after human administration.
Moreover, rising investment in the life science sector is further boosting the viral inactivation kit market. For instance, in April 2020, Sartorius extended its portfolio for the growth and manufacture of biotech medicines with the acquisition of Danaher Corporation.
Rise in COVID-19 cases is also driving the viral inactivation kit market, as viral inactivation is an important step prior to reducing the bio containment level in laboratory workers who are handling materials that contain SARS-CoV-2. Thus, inactivation of COVID-19 is currently recommended, which is likely to drive the viral inactivation kit market.
Stringent regulatory framework and time-consuming approval procedures for viral inactivation kits hinder the viral inactivation kit market. Governments in developing countries are making significant investments to modernize healthcare infrastructure, which is likely to increase access to health care. This is expected to increase the demand for viral Inactivation kits. Increase in prevalence of chronic diseases in developing countries offers significant opportunities to the global viral Inactivation kit market.
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North America to Capture Major Share of Global Viral Inactivation Kit Market
North America is estimated to dominate the global market during the forecast period. In North America, the U.S. held a prominent share in terms of revenue. Moreover, advanced healthcare facilities, the involvement of large pharmaceutical and biopharmaceutical firms, and substantial spending on health R&D by governments and companies in the U.S. are key factors that are expected to fuel the industry in North America.
Following North America, Europe accounted for the second-highest share of the global viral inactivation kit market due to extensive R&D spending in the life sciences industry and new product launches in the region
The market in Asia Pacific is anticipated to expand at a significant pace during the forecast period, due to improvement of healthcare infrastructure in emerging nations and growing awareness-raising initiatives. Additionally, ongoing studies in the region and an increase in the prevalence of chronic diseases in developing economies, such as India and China, are estimated to further drive the market in the region during the forecast period.
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Key Players Operating in Global Viral Inactivation Kit Market
The global viral inactivation kit market is highly consolidated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global viral inactivation kit market.
Major players operating in the global viral inactivation kit market are listed below:
Merck KGAA
Texcell Inc
Sartorius AG
Danaher Corporation
Charles River Laboratories International Inc
Viral Inactivated Plasma Systems SA
Parker Hannifin Corporation
Rad Source Technologies Inc
HiMedia Laboratories Pvt Ltd
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