Pharmaceutical Filtration Market: Trends And Developments
Summary
- The global Pharmaceutical Filtration Market is poised to reach USD 22.71 Billion by 2021 from USD 13.73 Billion in 2016, at a CAGR of 10.6% from 2016 to 2021.
Market growth is primarily driven by factors such as growing production of large molecules and biologics, technological advancements in nanofibers, growth in the generics market, and regulatory mandates for cleanrooms in pharmaceutical production. Other factors supporting market growth include an increase in R&D spending by biopharmaceutical companies to offer a strong biologics pipeline.
The global Pharmaceutical Filtration Marketis poised to reach USD 22.71 Billion by 2021 from USD 13.73 Billion in 2016, at a CAGR of 10.6% from 2016 to 2021.
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The global pharmaceutical filtration market is segmented on the basis of product, technique, application, scale of operation, and region. On the basis of product, the pharmaceutical filtration market is segmented into membrane filters, prefilters and depth media filters, cartridge & capsule filters, single-use systems, filter holders, filtration accessories, and other products. In 2016, the membrane filters segment accounted for the largest share of the market. This segment is also expected to register the highest CAGR during the forecast period. The key factor driving the growth of the membrane filters segment is the ease of installation in large and small manufacturing facilities owing to the availability of a variety of pore and surface types.
Based on application, the final product-processing segment is expected to register the highest CAGR during the forecast period owing to the rapidly growing biologics and generic drug production coupled with the presence of stringent regulatory guidelines to maintain a clean and safe manufacturing environment.
North America accounted for the largest share of the global pharmaceutical filtration market in 2016, followed by Europe. Stringent regulatory guidelines to provide safe drugs is encouraging the use of pharmaceutical filtration products and the presence of a large number of market players are propelling the growth of the North American pharmaceutical filtration market. The Asian region is expected to register the highest CAGR in the forecast period. Growing investments in the biopharmaceutical industry and the rise in contract research and manufacturing organizations in emerging Asian countries are the key factors driving the growth of the Asian market.
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The pharmaceutical filtration market is dominated by established players such as Merck KGaA (Germany), GE Healthcare (U.S.), Pall Corporation (U.S.), Parker Hannifin Corporation (U.S.), and Sartorius Stedim Biotech S.A. (France).
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