Press release
Global pharmaceutical filtration market is expected to grow at a CAGR of 11.8% over the forecast period i.e. 2017-2024
Pharmaceutical filtration is defined as a process to separate suspended particles from a medium by passing them through a membrane. Filtration is the most important process of pharmaceutical industry. Pharmaceutical Filtration is widely used for various applications such as cell separation, water purification, air filtration and others. Further, nanofiltration technology is heavily adopted by pharmaceutical industries for the filtration process.
Market Size and Forecast
The global pharmaceutical filtration market is expected to grow at a CAGR of 11.8% over the forecast period i.e. 2017-2024. Further, growing expansion of the biopharmaceutical industry and rise in healthcare expenditure are envisioned to foster the growth of pharmaceutical filtration market across the globe.
The global pharmaceutical filtration market is segmented into product type, application, technology, and region. On the basis of technology, the segment is further sub divided into ultrafiltration, nanofiltration, microfiltration, ion exchange, and others. Further, microfiltration segment is expected to be the largest segment by the end of 2024 owing to wide use application of microfiltration technology.
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In terms of geography, North America and Europe are the most prominent regional markets of pharmaceutical filtration in 2016. North America is the largest market in terms of market revenue share in overall pharmaceutical filtration market. Further, this region is expected to continue its dominance by the end of 2024. The market of pharmaceutical filtration is majorly driven on the back of increasing strict cleanliness requirements in manufacturing facilities and rise in manufacturing of vaccines. Likely, U.S. holds the largest market share of pharmaceutical filtration owing to the increasing research activities in this region.
Europe region captured the second largest market of pharmaceutical filtration in terms of revenue in 2016. Further, Western Europe countries such as U.K., Germany and others are augmenting the demand for pharmaceutical filtration due to increasing government initiatives and funding. Asia-Pacific region is projected to be the fastest growing pharmaceutical filtration market by the end of 2024. Additionally, the growth in this region is attributed to various factors such as growing population and rising demand for vaccines due to growing prevalence of numerous diseases. Likely, the major countries witnessing the augmented demand for pharmaceutical filtration are China, Japan and India.
Market Segmentation
Our in-depth analysis segmented the global pharmaceutical filtration market in the following segments:
By Product Type
• Membrane Filters
• Depth Filters
• Cartridge Filters
• High efficiency particulate air (HEPA)
• Bag Filters
• Gas Filters
By Application
• Cell Separation
• Water Purification
• Air Filtration
• Raw Material Filtration
• Finished Product Filtration
• Others
By Technology
• Ultrafiltration
• Nanofiltration
• Microfiltration
• Ion Exchange
• Others
Growth Drivers and Challenges
Growing demand for vaccines for the treatment of various diseases such as chikungunya, dengue and malaria coupled with growing healthcare expenditure are believed to be the dynamic factor behind the rapid growth of pharmaceutical filtration market across the globe. Further, technological advancement in filtration techniques across the globe is envisioned to foster the growth of pharmaceutical filtration market by the end of 2024.
Moreover, rising research and development activities by major key players to provide better filtration along with favorable government initiative to improve healthcare infrastructure is projected to bolster the growth of pharmaceutical filtration market. In addition to this, growing manufacturing of generic drugs and expansion of pharmaceutical industry are predicted to elevate the growth of pharmaceutical filtration market.
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However, high initial investment related with pharmaceutical filtration is expected to hinder the growth of pharmaceutical filtration market over the forecast period. Moreover, strict validation and qualification procedures in different countries are believed to dampen the growth of pharmaceutical filtration market globally.
This report also provides the existing competitive scenario of some of the key players of the global pharmaceutical filtration market which includes company profiling of 3M Company, Amazon Filters Ltd., Eaton Corporation PLC, GE Healthcare, Graver Technologies, Llc, Meissner Filtration Products, Inc., Merck KGAA, Pall Corporation, Parker Hannifin Corporation and Sartorius Stedim Biotech S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pharmaceutical filtration market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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Ajay Daniel
Email: ajay.daniel@researchnester.com
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