Global pharmaceutical filtration market is expected to reach an estimated value of ~USD 38 billion by 2033, by expanding at a CAGR of ~16%.
NEW YORK, UNITED STATES, January 20, 2023 /EINPresswire.com/ — Global Pharmaceutical Filtration Market Key Insights
During the forecast period of 2023-2033, the global pharmaceutical filtration market is expected to reach an estimated value of ~USD 38 billion by 2033, by expanding at a CAGR of ~16%. The market further generated a revenue of ~USD 10 billion in the year 2022. Major key factors propelling the growth of pharmaceutical filtration market worldwide are rise in number of new drugs, along with positive trends in spending for drug R&D all around the globe.
Market Definition of Pharmaceutical Filtration
In the pharmaceutical and biopharmaceutical sectors, filtration is a technique for separating particles from fluids by inserting a medium through which only the fluid may flow. Filtration promotes the production of both small and big molecules by preventing cross-contamination. This method frequently goes along with other processes. The materials are separated by a single perforated layer. This strategy is used in the application such as filtering of water, bulk materials, and solvents. There are three different types of operations available on the market: manufacturing-scale operations, pilot-scale operations, and R&D-scale operations. By preventing contamination, the filters aid in maintaining the sterility of the treated fluid.
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Global Pharmaceutical Filtration Market: Growth Drivers
The growth of the global pharmaceutical filtration market can majorly be attributed to the rising biopharmaceutical production. It is anticipated that filtering would be widely used in the biopharmaceutical sector. The International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) estimates that by 2020, there would be over 1,213 medications in development for infectious disorders, 1535 for immunology, 1535 for neurology, and 2740 for cancer, among other ailments. The worldwide biopharmaceutical industry would conduct research and development on these. It is predicted that US $179 billion was spent on biopharmaceutical R&D in 2018. (R&D).
Additionally, increasing use of disposable technology is also expected to boost the market over the forecast period. Disposable technology, commonly referred to as disposable products, has fundamentally altered biopharmaceutical development and production. As a result of the recession and rigorous regulatory frameworks, biopharmaceutical producers have adopted disposable technology (SUT) more frequently in recent years. According to a 2019 survey on bio-pharmacy capability and production conducted by Bio-Plan Associates, 85.6% of respondents used disposable filter cartridges, 79.3% used deep disposable filters, and 69.5% used disposable TFF devices for making bio-pharmaceuticals at all phases of production.
The global pharmaceutical filtration market is also estimated to grow majorly on account of the following:
Growing investment on research & development in biopharmaceutical
Growth in the usage of active pharmaceutical ingredients (API)
Upsurge in use of single-use technologies
Global Pharmaceutical Filtration Market: Restraining Factor
The chemicals used in the production of pharmaceuticals are frequently not completely filtered out, allowing them to escape into freshwater systems nearby before reaching the ocean, lakes, streams, and rivers. Hence this factor is expected to be the major hindrance for the growth of the global pharmaceutical filtration market during the forecast period.
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Global Pharmaceutical Filtration Market Segmentation
By Filtration Method (Surface Filtration, Depth Filtration, Cake Filtration, Cross-Flow Filtration, and Ultrafiltration)
By Product Type (Magnetic Filters, Bag Filters, Self-Cleaning Filters, Cartridge Filters, and Gas Filters)
By Membrane Type (Microfiltration, Ultrafiltration, Nanofiltration, Reverse Osmosis, and Ion Exchange)
By the end of 2033, it is predicted that the microfiltration segment would generate the most income, driven by the rise in cold sterilisation in the pharmaceutical and sterile water industries. It was noted that the microfiltration membrane held the highest portion of the membrane market in 2021, with a projected revenue creation of almost USD 3 billion.
By Application (Antibodies, Diagnostics, Phytopharmaceuticals, Plasma Fractionation, Special Enzymes, Vitamins, Red Biotechnology, and White Biotechnology)
The North America pharmaceutical filtration market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Growing demand for pharmaceutical owing to the rise of various disease, and growing disposable income are some of the major factors estimated to boost the growth of the market over the forecast period. It was discovered that, encompassing retail and non-retail contexts, pharmaceutical use in the United States increased by 9.5% over the previous five years to reach 194 billion days of therapy in 2021.
The market research report on global pharmaceutical filtration also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
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Key Market Players Featured in the Global Pharmaceutical Filtration Market
Some of the key players of the global pharmaceutical filtration market are 3M, Amazon Filters Ltd., Parker-Hannifin Corporation, Sartorius, Eaton Corporation plc, Graver Technologies LLC, Meissner Filtration Products, Inc., Cole-Parmer Instrument Company, LLC., Donaldson Company, Inc., Danaher Corporation, and others.
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January 20, 2023, 12:14 GMT
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