Pune, Maharashtra Jun 10, 2019 (Issuewire.com) - Based on product type, the global virus filtration market has been categorized into virus filters & filtration systems, kits & reagents, and services. The kits & reagents segment is projected to expand at the highest CAGR during the forecast period due to the recurring use of these products in various laboratory techniques, R&D projects, and biopharmaceutical industries. In terms of revenue, the kits & reagents segment is anticipated to dominate the global virus filtration market from 2018 to 2030.
In terms of application, the global Virus Filtration market has been classified into biological, medical devices, water purification, and air purification. The biological segment can be divided into vaccines & therapeutics, blood & blood products, stem cell products, and others. A rise in adoption of biotherapeutics owing to lower adverse effects is expected to propel the biological segment during the forecast period. The biological segment is likely to dominate the market in terms of revenue from 2018 to 2030.
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High Costs of Medical devices & instruments to restrain the Market
High costs associated with medical device and instruments are one of the major factors affecting the growth of the medical device contract manufacturing market. Unavailability of alternate affordable and cheaper raw materials for manufacturing of medical devices is anticipated to be one of the major hindrances in the growth of the global medical device contract manufacturing market. Insufficient penetration of latest technologies, limited awareness in underprivileged regions and population with low income groups face consequential outcome in affording such devices.
Virus Filtration Market by Applications
Similarly, the segment of applications is classified into biological, water purification, medical devices, and air purification. The biological applications segment can be further segmented into blood & blood products, vaccines & therapeutics, stem cell products and other biological applications. The segment of biological applications is estimated to account for the largest share of the virus filtration market, owing to the rising adoption of biotherapeutics or biopharmaceuticals and growing awareness regarding stem cell therapies, tissue-based therapies and other treatments for several diseases.
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Medical Device Contract Manufacturing Market by Device Type
The global medical device contract manufacturing market has been segmented based on device type, application, type of manufacturing, service, and region. In terms of device type, the global medical device contract manufacturing market has been segmented into in-vitro diagnostic medical devices, diagnostic imaging & medical equipment, drug delivery devices, patient monitoring devices, minimally access surgical instruments, therapeutic patient assistive devices, and others. The growth of this segment can be attributed to rising demand for home monitoring devices, body implants, and increasing demand in hospital for surgical & non-surgical instruments, are expected to drive the medical devices market, which, in turn, is likely to propel the medical device contract manufacturing market.
Medical Device Contract Manufacturing Market by Regions
The global medical device contract manufacturing can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of medical device contract manufacturing, followed by Europe and the Asia Pacific. The largest share of the region can be attributed to factors like highly developed health care sector, availability of advanced medical device products, the focus of market players to introduce new & advance products for hospitals, favourable government initiatives and laws drive the medical device contract manufacturing market in the region. Asia Pacific region is likely to register the fastest growth rate during the forecast period. Owing to the availability of cost-effective raw materials that largely reduces the cost of the overall medical device, expected to propel the medical device contract manufacturing market in the Asia Pacific.
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