Global Pharmaceutical Filtration Market Is Expected To Reach US$ 33.2 Bn By 2025
According to the latest market report published by Brisk Insights “Pharmaceutical Filtration Market - Growth, Future Prospects and Competitive Analysis, 2017 - 2025” the global pharmaceutical filtration market was valued at US$ 13.4 Bn in 2016, and is expected to reach US$ 33.2 Bn by 2025, expanding at a CAGR of 10.57% from 2017 to 2025.
Browse the full report Pharmaceutical Filtration Market - Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at https://www.briskinsights.com/report/pharmaceutical-filtration-market
Market Insights
The global pharmaceutical filtration market is projected to show significant market growth during forecast period because filters plays critical role in various pharmaceutical process from raw material processing to final product delivery. Filters are used to meet stringent regulatory requirements, decrease costs, and to improve quality during drug development and manufacturing processes. For the purpose of the study pharmaceutical filtration market is segmented on the basis of technology type such as microfiltration, ultrafiltration, nanofiltration and other techniques. Microfiltration technique was the highest revenue generating segment in the year 2016 due to its higher speed, low operating pressure, low energy consumption availability at lower cost and wide applicability in effluent treatment, separation of water oil-water emulsion, water bacteria reduction and pretreatment for nano-filtration.
Pharmaceutical filtration market is categorized on the basis of product type such as membrane filters, prefilters and depth media, single use systems, cartridges & capsules, filter holders, filtration accessories and others (syringe filters, filter bags, and cartridge housing equipment). Membrane filters held largest revenue contributor due to higher use in manufacturing, R&D and environmental cleaning applications in the pharmaceutical industry. Based on application pharmaceutical filtration market is segmented as final product processing, raw material filtration, cell separation, water purification and air purification. Currently final product processing is major revenue generating segment due to stringent regulatory guidelines, growing adoption of biologics, protein and technological advances in filtration process which led to increase use of filtration process in final product processing.
It is studied that, in the base year 2016, North America was highest revenue generating segment due to factors such as highest investment in research and development activities, presence of key manufactures, developed economies, highest number of pharmaceutical and biotechnology industries and technological advances. It is estimated that Asia Pacific will growth significantly during forecast period due to increasing partnership of key manufacturers with local players and growing number of pharmaceutical and biopharmaceuticals industries in Asia Pacific would assist the pharmaceutical filtration market growth.
Market Competition Assessment:
The Pharmaceutical filtration market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as 3M Company, Amazon Filters Ltd., Eaton Corporation Plc., GE Healthcare, Graver Technologies LLC., Koch Membrane Systems Inc., Meissner Filtration Products Inc., Merck KGaA, Microdyn-Nadir US, Inc., Pall Corporation, Parker Hannifin Corporation, Sartorius Stedim Biotech S.A., and others.
Key Market Movements:
- Factors such as growing number of pharmaceutical industries, stringent regulatory guidelines to deliver quality product, increase in research and development activities and wide availability of technologically advance filter are key factors that assisting the growth of pharmaceutical filtration market globally.
- Moreover, production of novel biologics, vaccines and protein requires sterility and zero risk of contamination which further necessitates the use of advanced pharmaceutical filter.