Filter Integrity Test Market Size Analytical Overview, Growth Factors, Demand And Trends Forecast To 2024
Seeking Alpha Analyst Since 2014
#Healthcare Consultant focusing on #TeleHealth #TeleMedicine #PatientPortals #CVIS #HCIT #MedicalRobots #Vaccines #MedicalDevices #WirelessHealth #Biotechnology
Summary
- What This Report Will Provide?
- Expected Revenue Growth.
- Major Growth Boosters.
What This Report Will Provide?
The study involved 4 major activities in estimating the current market size for filter integrity test. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Expected Revenue Growth:
[106 Pages Report] The filter integrity test market is projected to reach USD 79 million by 2024 from USD 59 million in 2018, at a CAGR of 5.0% during the forecast period.
Factors such as increasing R&D spending, growth in the biopharmaceutical industry, and increasing purity requirements in the end-user market are driving the growth of the market.
Based on type, the market is segmented into diffusion test, water flow integrity test, and bubble point test. In 2018, the diffusion test segment accounted for the largest share of the filter integrity test market. This segment is also expected to witness the highest growth during the forecast period. The advantages offered by the diffusion testing method such as high sensitivity, high margin of safety, and testing of the complete filter system (cartridge and housing) are supporting the growth of this segment.
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Recent Developments:
- In 2018, Thermo Fisher Scientific opened the new Bioprocess Design Center in Shanghai, China to connect and collaborate with biologic developers to design bioprocessing solutions.
- Merck opened a new manufacturing and distribution center for its life science business in Mumbai, India to increase its gross domestic product storage and meet future bioproduction demand.
- Thermo Fisher Scientific acquired the Advanced Bioprocessing business from Becton, Dickinson and Company. With this acquisition, the company expanded its product portfolio of life sciences solutions.
Key Questions Addressed in The Report:
- Who are the major players in the market?
- What are the regional growth trends and the largest revenue-generating region for the filter integrity test market?
- What are the major drivers and opportunities of the filter integrity test market?
- Which is the major test type of filter integrity test?
- Who are the major end users of the filter integrity test market?
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Based on mechanism, the filter integrity test market is segmented into automated and manual filter integrity tests. Integrity tests based on the automated mechanism accounted for the larger share of the market in 2018. In automated integrity testing, the data is not manually entered into the integrity test instrument, which reduces the risk of human error.
Regional Growth Analysis:
The market is divided into four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America accounted for the largest share of the market, followed by Europe. The increasing demand for biopharmaceuticals and implementation of drug safety guidelines by the FDA are the major factors driving the growth of the filter integrity test industry in North America.
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