Pharmaceutical Filtration Market Growth & Trends
The global pharmaceutical filtration market size is expected to reach USD 37.3 billion by the year 2025 growing at a CAGR of 12.1%, according to a new report by Grand View Research, Inc. The growing expansion of the biopharmaceutical industry have resulted in enormous growth of the market with new and more enhanced technologies being used to cater to the need of drug manufacturers. Increasing demand for therapeutic biopharmaceuticals such as antibodies,hormones, and vaccines is a major factor that drives growth of the market during forecast period. Thus, many pharmaceuticals and biotechnology companies have begun to focus on the development of advanced biologics for the treatment of severe chronic diseases including cancer, heart disease, and rheumatic arthritis.
Increasing investment in the R&D by pharmaceutical and biotechnology companies is another major factor supporting the growth of the sector. Technological advancements in filtration products is also expected to propel their adoption in manufacturing and research of biopharmaceuticals and other drugs. The technological advanced filters including membrane, pre-filters & depth media, and cartridges & capsules filters provide high reliability and efficiency during drug manufacturing process.
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Pharmaceutical Filtration Market Report Highlights
- Microfiltration is the fastest growing technique amongst others owing to its large application in generic and biopharmaceutical drug productions
- Final product processing was the largest revenue-grossing as well as fastest growing segment of the pharmaceutical filtration market, due to increase in number of companies engaged in pharmaceuticals and biologics production
- Membrane filters held the largest revenue share in the overall sector, which is attributed by its high usage in production, research, environmental testing, and other applications in the pharmaceutical industry
- MCE membrane filters accounted for the largest share in the membrane filters segment, due to its product advancement
- The manufacturing scale dominated the market in terms of revenue in 2016 owing to the increasing production of generic drugs and biopharmaceutical products
- North America is the leading regional sector, which is accounted for the largest revenue share of the overall market in 2016, because of the presence of large number of pharmaceutical, biopharmaceutical, and biotechnology companies in this region
- The Asia Pacific region is expected to grow at a highest CAGR during the forecast period due to escalating presence of drug manufacturers in the developing countries such as China and India
- Some of the major players include Eaton Corporation Plc; GE Healthcare, Parker Hannifin Corporation; Merck KGaA; Danaher Corporation, 3M; Amazon Filters Ltd.; Sartorius Stedim Biotech S.A.; Graver Technologies, LLC; and Meissner Filtration Products, Inc.
