Press Release Description
Emerging Biopharmaceutical Products Promote Viral Clearance Testing Market Worldwide
The Global Viral Clearance Testing market is projected to grow at a CAGR of around 20.10% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. In the past few years, the market has surged dramatically & this trend is projected to continue in the future period, owing to higher demand for biopharmaceutical goods, stricter regulatory control, and a boost in viral infection around the world. The prevalence of numerous viral illnesses, such as Coronavirus, H1N1, and others, is rising globally. As a result, companies are manufacturing & developing drugs, along with a consequence of the government's stringent regulations, this testing is an essential step to ensure the safety & efficacy of biopharmaceutical products that may be contaminated with viruses, hence driving demand & propelling its market growth.
Furthermore, the advancement of cutting-edge technologies such as PCR, next-generation sequencing (NGS), and others has increased the efficiency & accuracy of this testing. This has resulted in greater adoption of these technologies by biopharmaceutical companies, which enhances testing efficiency & encourages the market ahead. This testing has evolved as a significant condition for biopharmaceutical items seeking regulatory approval for human consumption.
Additionally, the complexity of testing, virus detection, inactivation, and removal necessitate a skilled workforce & high-tech instruments. Therefore, several biopharmaceutical companies, including Takeda Pharmaceutical, Pfizer, Novartis, and others, are looking for alternatives, such as outsourcing these testing services to FDA-accredited laboratories as the preferred approach to address the discrepancy in test findings. According to the research report, "Global Viral Clearance Testing Market Analysis, 2023," this has resulted in expanded growth prospects for testing service providers in the market.
Escalated Use of Viral Clearance Testing Services in Clinical Phase
Based on the scale of operation, the market is further classified as, Discovery Phase, Preclinical Phase, and Clinical Phase. Large-scale investigations incorporating a large number of patient samples examined to establish the safety and efficacy of the biopharmaceutical product increased the Clinical Phase significantly. Biopharmaceutical businesses are prepared to submit their product for regulatory approval & they must demonstrate that the product is safe & devoid of viral contamination.
Furthermore, clinical trials often entail large-scale biopharmaceutical product manufacture, which raises the danger of virus infection. As a result, this testing is crucial at this stage to guarantee the product's safety & efficacy before it is approved for use by patients, hence affecting the market growth during the forecast period.
North America Followed by Asia-Pacific to Hold the Major Market Share
Regionally, North America witnessed significant growth in the Viral Clearance Services market. This is primarily owing to the rising demand for biopharmaceuticals and the advancement of sophisticated purification technologies for recombinant proteins produced by animal cell cultures. As a result, high-value modern biotechnology goods are generated, necessitating in-country viral clearance testing.
Aside from that, Asia-Pacific is also predicted to grow drastically over the projection period due to a shift in biopharmaceutical R&D activities, rising industry investment, and greater government assistance. A growing skilled workforce and a burgeoning biopharmaceutical industry are also contributing to the region's market progress.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Merck KgaA, Charles River Laboratories, 3P Biopharmaceutical, Eurofins Scientific, Wuxi Biologics, Kedrion S.p.A, Virusure Gmbh, Texcell SA, Samsung Biologics, Syngene International Limited, Creative Biolab, Creative Biogene, Sartorius AG, Nelson Laboratories LLC, are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends that have shaped the industry to its current form?
- What key factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & service adoption?
- How has the competition shaped across various regions, followed by their comparative factorial indexing?
- How have buying behavior, customer inclination, and expectations from product manufacturers evolved during 2018-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
Place an order
100% Safe & Secure
Strongest encryption on the website to make your purchase safe and secure