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Trends in Pharmaceutical Filtration Market 2023 by Product, Technique, Application, Geography and Future Scope
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Geographically, North America has been the largest pharmaceutical filtration market in 2016, with the U.S. being the larger contributor to the regional market. Increasing prevalence of lifestyle associated and chronic diseases, rising geriatric population and increasing production of biopharmaceuticals are the factors that have been driving the growth of the North American market for pharmaceutical filtration. The U.K. has been the largest contributor to the European market for pharmaceutical filtration, followed by Germany and France. The market is expected to witness the fastest growth in Asia-Pacific during 2017 - 2023, owing to increasing cases of chronic diseases, increasing healthcare expenditure leading to increasing research and development spending and increasing geriatric population.
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The increasing demand and penetration of pharmaceutical filtration products in emerging economies offers enormous growth opportunities for the pharmaceutical filtration market. With high economic growth and increasing government initiatives in Asia-Pacific, the major manufacturers of the pharmaceutical filtration products are penetrating into the untapped market in the region. Countries such as China and India have a huge growth potential for the market during the forecast years.
The healthcare industry is witnessing significant growth in these countries. The large population base and improving healthcare infrastructure are attracting pharmaceutical filtration product manufacturers to develop their manufacturing sites in these countries. Moreover, manufacturing of such products in the developing regions tends to decrease the overall cost of manufacturing, thus reducing the cost of the product without altering its quality. Pharmaceutical filtration products such as membrane filter, prefilter and depth media filter, cartridge and capsule filter, filter holder, filtration accessories and other products play a vital role in filtration process and preventing contamination. Therefore, ease of healthcare access in these countries creates ample growth opportunities for the pharmaceutical filtration market.
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Some of the key players in the pharmaceutical filtration market include Merck KGaA, Pall Corporation, GE Healthcare, 3M Company, Parker Hannifin Corporation, Sartorius Stedim Biotech S.A., Eaton Corporation PLC, Graver Technologies, LLC, Amazon Filters Ltd. and Meissner Filtration Products, Inc.
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