U.S. Viral Clearance Market Overview
According to fortune business insights, the U.S. viral clearance market size was worth USD 215.6 million in 2023 and is projected to grow at a CAGR of 18.7% during the forecast period. Viral clearance studies are essential for assessing and removing viruses from biological products derived from human or animal sources, ensuring drug safety. The market growth is fueled by increasing emphasis from pharma and biotech companies on developing biological drugs and vaccines, alongside rising government initiatives for viral safety. For instance, in November 2022, GSK plc received U.S. FDA approval and Priority Review for its RSV older adult vaccine candidate.
The market experienced slower growth in 2020 due to the COVID-19 pandemic, which slowed manufacturing capacity and paused many non-COVID-19 research studies.
Major Players Profiled in the Market Report:
Latest Trends
Adoption of Advanced Technology, such as Next Generation Sequencing (NGS) in Validation of Viral Clearance, has been Increasing Significantly
Traditional in-vitro assays have limitations as they can only detect viruses that cause specific observable effects, potentially missing other viral species. Next-Generation Sequencing (NGS) overcomes this by sequencing millions of DNA fragments simultaneously, allowing for the detection of a broad range of both known and unknown viral sequences without prior knowledge of potential agents. The ability of NGS to generate vast amounts of sequence data in a short time is increasing its adoption for viral detection and clearance studies.
Drivers & Restraints
Increasing R&D investment by Pharmaceutical and Biotechnological Companies in the U.S is Fueling the Market Growth
Viral detection and removal studies are mandatory for any drug derived from human or animal sources to validate its safety. Consequently, the rising investment by life science companies in R&D for new drug development is a primary market driver. For example, R&D expenditures for Bristol-Myers Squibb Company and Abbvie reached USD 11,354.0 million and USD 7,984 million, respectively, in 2022, fueling demand for viral clearance services.