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Global Depth Filtration Market 2024 - By Share, Size, Growth Analysis And Forecast To 2033
Global Depth Filtration Market
According to The Business Research Company's, The depth filtration market size has grown strongly in recent years. It will grow from $2.13 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to the growing demand for biopharmaceuticals, expansion of the pharmaceutical industry, increasing focus on healthcare infrastructure, rise in stringent regulatory standards, and rise in chronic diseases.
The depth filtration market size is expected to see strong growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to increasing biopharmaceutical R&D, rising demand for biosimilars, shift towards continuous manufacturing, growing demand for personalized medicine and targeted therapies, increasing emphasis on sustainability and environmental conservation, and expansion of bioprocessing facilities. Major trends in the forecast period include the adoption of single-use systems, the adoption of automation and digitization, technological advancements, advancements in membrane technology, and the emergence of novel filtration materials.
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Market Drivers and Trends:
The increase in the manufacturing of pharmaceutical drugs is expected to propel the growth of the depth filtration market going forward. Pharmaceutical drugs refer to medications or substances used for the prevention, treatment, or diagnosis of medical conditions in humans or animals. The surge in pharmaceutical drug manufacturing can be attributed to the increased prevalence of chronic and infectious diseases and the growing aging population, which necessitates a higher demand for medications to manage age-related conditions and ailments. Depth filtration contributes to the safe and reliable production of pharmaceutical products for patient use by providing effective particulate removal, bioburden reduction, and purification of process fluids. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, the rise in the manufacturing of pharmaceutical drugs is driving the growth of the depth filtration market.
Major companies operating in the depth filtration market are focused on developing technologically advanced filtration instruments, such as activated carbon depth filter media, to enhance purification processes. Activated carbon depth filter media play a significant role in depth filtration by offering unique adsorption properties that complement the particulate removal capabilities of traditional depth filter media. For instance, in June 2023, Eaton Corporation PLC, an Ireland-based power management company, launched Beco Carbon ACF 03 grade, an activated carbon depth filter media specifically designed for pharmaceutical and biopharmaceutical production. It provides mesoporous to microporous adsorption, effectively removing organic impurities such as endotoxins and decolorizing medium stains. The technology ensures high safety and product quality by meeting USP Class VI testing (United States Pharmacopeia Class VI testing) requirements and biocompatibility standards. It simplifies processes by eliminating the need for powdered activated carbon dosing and offers various designs for different applications, optimizing process costs and enhancing convenience.
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Major Key Players of the Market:
3M Company, Merck KGaA, Eaton Corporation PLC, Parker Hannifin Corporation, Saint-Gobain Performance Plastics Corporation, MANN+HUMMEL GmbH, Alfa Laval AB, Cantel Medical Corp., Sartorius AG, Ahlstrom Holding 3 Oy, Donaldson Company Inc., Pall Corporation, Meissner Filtration Products Inc., ErtelAlsop, Graver Technologies LLC, Synder Filtration Inc., Carl Stuart Group (Pure Process), Amazon Filters Limited, Filtrox AG, Fileder Filter Systems, Trinity Filtration Technologies Private Limited, BioPharmaSpec Limited, ANOW Microfiltration Co. Ltd.
Depth Filtration Market 2024 Key Insights:
• The depth filtration market size is expected to see strong growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Pharmaceutical Drug Manufacturing Surge Fuels Growth In The Depth Filtration Market
• Advanced Activated Carbon Depth Filter Media Revolutionizing Pharmaceutical Purification Processes
• North America was the largest region in the depth filtration market in 2023
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