Pharmaceutical Filtration Market worth $29.7 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 17, 2022 /PRNewswire/ -- According to the new market research report "Pharmaceutical Filtration Market by Product (Membrane, Depth filter), Systems (Single-use, Assemblies), Technique (Microfiltration, Ultrafiltration), Application (API, Vaccine, Media), Scale of Operation (Manufacturing, Pilot, R&D) - Global Forecast to 2027", published by MarketsandMarkets™, the global market is projected to reach USD 29.7 billion by 2027 from USD 10.9 billion in 2022, at a CAGR of 17.0% during the forecast period of 2022 to 2027.
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"Pharmaceutical Filtration Market"
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The Growth in the pharmaceutical filtration market can be attributed to factors such as the growing biopharmaceutical industry, rising R&D spending in pharmaceutical & biotechnology industries, an increasing adoption of single-use technologies, a rising number of new product launches by leading market players, increasing purity requirements in end user segments, and increasing advances in nanofiber technology. On the other hand, membrane fouling and the high capital investment required to set up new production facilities are expected to hinder market growth.
The filters segment accounted for the largest share of the product segment in the Pharmaceutical filtration market in 2021.
Based on products, the market is segmented into major three segments, namely, filters, systems, and other products. The filter market is further segmented into membrane filters, depth filters, and other filters, such as prefilters, bag filters, and magnetic filters. The systems market is further segmented into single-use systems and reusable systems. In 2021 the filters segment accounted for the largest share of the pharmaceutical market. The large share of this segment can primarily be attributed to the wide use of different types of membrane filters and depth filters for various filtration applications in the pharmaceutical industry, increased filtration requirements among the biopharmaceutical industry, and the higher frequency of purchase of these filters compared to systems and other filtration products.
The Microfiltration segment accounted for the largest share of the process segment in the Pharmaceutical filtration market in 2021.
Based on technique, the market is segmented into microfiltration, ultrafiltration, nanofiltration, and other techniques. The other techniques segment includes reverse osmosis and ion exchange. The microfiltration techniques accounted for the largest market share of this market in 2021, and this can be primarily attributed to the advantages of microfiltration over other techniques due to the requirement of low operating pressure, lesser energy consumption, ease of use, cost-effectiveness, the requirement of limited manual actions, elimination of energy-consuming phase, such as evaporation technique.
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The Asia Pacific region is the fastest-growing region of the Pharmaceutical filtration market in 2021.
Based on the region, the market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the rising incidence rate of viral diseases, the need to maintain a clean manufacturing environment because of strict regulatory rules, the rapid expansion of generics production, advancements in nanofiber technologies, increasing R&D spending on biopharmaceutical projects, and the growth of the biotechnology industry in developing countries.
Key players in the Pharmaceutical filtration market include Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), 3M (US), Thermo Fisher Scientific Inc. (US).
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