Market Trends of Virus Filtration Industry
This section covers the major market trends shaping the Virus Filtration Market according to our research experts:
The Vaccines and Therapeutics Segment is Expected to Hold a Majority Share of the Market Over the Forecast Period
Vaccines and/or therapeutics are made from the disease's active ingredient, its byproducts, or a synthetic equivalent. They are employed to increase antibody production and offer immunity from one or more diseases. Due to factors including industry participants' increased R&D efforts to develop ground-breaking vaccines or medicinal pharmaceuticals, the market is expected to grow over the projected period. The R&D and production of such drugs and vaccines require some sort of virus filtration to be in a sterilized condition. For instance, in July 2022, Genome Valley, a Hyderabad-based vaccine manufacturer, and Biological E. invested USD 22.7 million (INR 1,800 crore) on expansion projects at three of its sites. Its main purpose was to increase vaccine production, generic injectables, and research and development (R&D) of various vaccinations, including tetanus.
Further, in March 2022, the International Vaccine Institute (IVI), in collaboration with LG Electronics, the Ethiopian government led by Armauer Hansen Research Institute (AHRI), and the Ethiopian Public Health Institute (EPHI), reported vaccination of 40,000 people against cholera to support the prevention of the disease in Ethiopia. Additionally, in August 2022, GSK was given a contract by UNICEF for the supply of a malaria vaccine with a potential value of USD 170 million. 18 million doses of RTS, S/AS01 (RTS, S) will be made available over the following three years as a result of the historic grant, potentially saving countless lives every year. Such initiatives as investments and grant approvals are likely to increase segmental growth and are expected to increase the adoption of virus filtration over the forecast period.
North America Dominates the Market and is Expected to Continue Over the Forecast Period
North America is expected to hold the largest share of the overall market throughout the forecast period. This is due to the increasing investments and the presence of more pharmaceutical companies in the region. The United States holds the largest market share in the North American region. Initiatives such as partnerships by key regional players are one of the factors in market growth during the forecast period. For instance, in July 2022, the new large-scale plant-based protein facility for EverGrain in St. Louis, Missouri, received its filtering solution from Pall Corporation. With the Pall Membralox Microfiltration System, EverGrain's new factory concentrates on upcycling the brewer's saved grains. Previously utilized as animal feed, the refined high-functional protein can now be transformed into wholesome, plant-friendly components for other food products. Such a partnership is expected to provide advanced products in the region, increasing market growth.
Grant support for investing in facilities is another factor in market growth. For instance, in July 2021, Gilead Sciences Canada, Inc. stated that the 2021 CONNECT-C Grant Program was received by Omega Specialty Nurses (OSN) House of Sophrosyne and the Viral Hepatitis Care Network in Ontario to increase hepatitis screening facilities in the country.
Further, Ford released an air filter system in March 2021 that can be put together at home or in a classroom to protect against COVID-19. A 20-inch Lasko box fan, a 20x20x4-inch air filter, and an easy-to-assemble die-cut cardboard base make up the air filtration kit known as Scrappy Filtration, which Ford's Project Apollo team developed to combat COVID-19. This is one of the most affordable ways to protect against COVID which can be used by communities across the globe. Innovative product launches such as these are expected to boost market growth during the forecast period.
