Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.59 Billion | USD 7.24 Billion | 11.9% | 2021 |
FrequentlyAsked Questions
The rise in chronic sickness instances throughout the world has prompted medication developers to create advanced class pharmaceuticals, allowing virus filtering to be used as the foundation technology. It is undeniable that the global disease burden, in respect of chronic illness, has risen. According to the World Health Organization, cancer is responsible for one out of every six deaths globally. Furthermore, diabetes prevalence has tripled in the previous four decades, with an estimated 550 million people worldwide. Chronic diseases can carry with them a slew of other problems, such as renal failure, vision problems, and, finally, heart attacks. The world's major pharmaceutical companies are actively investigating medications and vaccinations that might help to prevent or lessen the severity of the disease.
According to the Zion Market Research report, the global virus filtration market was worth about 3.59 (USD billion) in 2021 and is predicted to grow to around 7.24 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 11.9 percent.
In comparison to the other regions, North America's viral filtration market maintained a significant market share of 36 percent. It is due to the region's leading position, particularly in the United States, to follow automation in healthcare procedures. Furthermore, the automation of filtration systems has enabled different ancillaries to assist its expansion, as the following region contains several well-known firms. Secondly, the region's focus over the last year has been on developing resilient infrastructure that will prevent further breakouts which might lead to a new pandemic is also supporting the growth of the market.
Key players functioning in the global virus filtration market include General Electric Company, Sartorius AG, Asahi Kasei Medical Co. Ltd., Thermo Fischer Scientific Inc., Danaher Corporation, Clean Cell Inc., Charles River Laboratories International Inc., Wuxi Biologics, and Lonza Group Ltd among others.
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