Newark, June 08, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global pharmaceutical filtration market is expected to grow from USD 9.8 billion in 2021 to USD 39.6 billion by 2030, at a CAGR of 16.8% during the forecast period 2022-2030.
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The rise in the number of chronic diseases worldwide is one of the main reasons for the growth of the pharmaceutical industry. The increase in demand for advanced therapeutic drugs to treat chronic diseases such as asthma, diabetes, cancer, COPD, and arthritis propels the growth of the pharmaceutical filtration market. Moreover, the novel biologics production requires zero contamination risks and utmost sterility, which further necessitates the application of advanced filtration products to manufacture drugs and biologics. However, the high capital requirement for setting up the pharmaceutical filtration plant is a challenge to the growth of the market. Several small hospitals, clinics, and countries with low economies lack the high capital requirement, which hampers the growth of the market.
Competitive Strategy
To enhance their market position in the global pharmaceutical filtration market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● March 2021, Pall-Austar Lifesciences Limited was acquired by Danaher to expand its capacity of manufacturing to meet the demand for a single-use technology supply chain in China.
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Market Growth & Trends
Increase in the production of large molecules, biologics, generics, and APIs; rise in the prevalence of chronic diseases; technological advancements in the pharmaceutical filters; increase in spending on R&D due to an increase in expenditure in the healthcare sector by the government, and an increase in the number of biopharmaceutical and pharmaceutical companies worldwide are the essential factors that fuel the growth of the pharmaceutical filtration market. Moreover, an increase in the use of innovative therapies for the treatment of several diseases, such as therapeutic proteins, monoclonal antibodies, and vaccines in the pharmaceutical industry; strong products from the biological pipeline; and a rise in demand for filters in the pharmaceutical and biopharmaceutical industry are other factors that contribute toward the growth of the market. However, low income, lack of proper medical attention, and significant capital requirements in different countries are expected to hinder the market's growth.
Key Findings
● In 2021, the membrane filters segment dominated the market with the largest market share of 22% and market revenue of 2.1 billion.
The product type segment is divided into Membrane Filters, Single-Use Systems, Prefilter & Depth Filter Media, Cartridges & Capsules, Filtration Accessories, Filter Holders, and Others. In 2021, the membrane filters segment dominated the market with the largest market share of 22% and market revenue of 2.1 billion. Membrane filters can filter molecules of different sizes and characteristics, which drives the segment's growth.
● In 2021, the microfiltration technique segment accounted for the largest share of the market, with 36% and market revenue of 3.5 billion.
The technique segment is divided into microfiltration, nanofiltration, ultrafiltration, and other techniques. In 2021, the microfiltration technique segment accounted for the largest share of the market, with 36% and market revenue of 3.5 billion. The rising popularity of cold sterilization of pharmaceuticals is driving the segment's growth.
● In 2021, the final product processing segment accounted for the largest share of the market, with 23% and market revenue of 2.2 billion.
The application segment is divided into final product processing, water purification, cell separation, raw material filtration, and air purification. In 2021, the final product processing segment accounted for the largest share of the market, with 23% and market revenue of 2.2 billion. The final product processing stage primarily uses pharmaceutical filtration, which drives the market's growth in the segment.
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Regional Segment Analysis of the Pharmaceutical Filtration Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global pharmaceutical filtration market, with a market share of around 36.8% and 3.6 billion of the market revenue in 2021. The North American region has a well-developed healthcare infrastructure which drives the growth of the pharmaceutical filtration market. The prominent market players present in the region are focusing on research and development activities to generate medicines for the treatment of chronic diseases, which adds impetus to the market's growth during the forecast period in the region.
Key players operating in the global pharmaceutical filtration market are:
● Eaton Corporation Plc
● Amazon Filters Ltd.
● Merck KGaA
● Parker Hannifin Corporation
● GE Healthcare
● Graver Technologies, LLC
● 3M
● Sartorius Stedim Biotech S.A.
● Thermo Fisher Scientific Inc.
● Danaher Corporation, Inc.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global pharmaceutical filtration market based on the below-mentioned segments:
Global Pharmaceutical Filtration Market by Product Type:
● Membrane Filters
● Prefilter & Depth Filter Media
● Single-Use Systems
● Cartridges & Capsules
● Filter Holders
● Filtration Accessories
● Others
Global Pharmaceutical Filtration Market by Technique:
● Microfiltration
● Nanofiltration
● Ultrafiltration
● Others
Global Pharmaceutical Filtration Market by Application:
● Final Product Processing
● Cell Separation
● Raw Material Filtration
● Air Purification
● Water Purification
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About the report:
The global pharmaceutical filtration market is analyzed based on value (USD billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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