Pharmaceutical Filtration Market in terms of revenue was estimated to be worth $13.5 billion in 2023 and is poised to reach $26.2 billion by 2028, growing at a CAGR of 14.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The pharmaceutical filtration market is expected to grow at a CAGR of 14.2% during the forecast period. Growth in the pharmaceutical filtration market can be attributed to factors such as rapid growth in the RD and manufacturing of biopharmaceuticals, growing adoption of single use filters, new product developments by key market players, growing filtration scrutiny by regulatory bodies, and advanced development in nano fiber technologies. Despite this, issues such as membrane fouling, and large capital investment required to set up new production facilities are expected to hinder market growth.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209343847
The single use systems segment accounted for the largest share of the systems segment in the pharmaceutical filtration market in 2022.
Based on products, the pharmaceutical filtration market is segmented into filters, systems, and other products. Filters segment accounted for the largest share of the pharmaceutical market; membrane filters are the key revenue contributors to this segment. Membrane filters are microporous plastic films with specific pore size ratings. These filters are used to separate contaminated particles from liquids. They are available in a variety of polymers, pore sizes, diameters, and surface types.
The nanofiltration segment accounted for the smallest share of the process segment in the pharmaceutical filtration market in 2022.
Based on technique, the pharmaceutical filtration market is segmented into microfiltration, ultrafiltration, nanofiltration, and other techniques. The other techniques segment includes reverse osmosis and ion exchange. The nanofiltration techniques accounted for the smallest market share of this market in 2022, and this can be primarily attributed to the limited retention for salts and univalent ions by nanofilters; nanofiltration membranes being comparatively more expensive than reverse osmosis membranes.
The Asia Pacific region is the fastest-growing region of the pharmaceutical filtration market in 2021.
Based on the region, the pharmaceutical filtration 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 rapid technology development in nanofiber technologies, expanding manufacturing of generics, growing government budget for RD, and growing biotechnology industries.
Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=209343847
Pharmaceutical Filtration Market Dynamics:
Drivers:
- Growth of biopharmaceutical industry to drive filtration products demand
- Rising RD spending in pharmaceutical biotechnology industries to drive market growth
- Increasing adoption of single-use technologies
- New product launches by leading players support market growth
- Increasing purity requirements in end user segments
Restraints:
- Issues in membrane fouling to restrict market growth
- High capital investment for new production facilities to limit entry of small players
Opportunities:
- Emerging economies offer lucrative growth opportunities
- Advances in nanofiber technology to drive possibilities of nanofiltration
Challenges:
- Increased cost, reduced speed, and yield of filters to restrict market growth
- Difficulty in small players and new entrants survival
Key Market Players:
Key players in the drug discovery service Market include Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), 3M (US), Thermo Fisher Scientific Inc. (US).
Recent Developments:
- In January 2023, Sartorius AG (Germany) and RoosterBio, Inc. (US) signed a collaboration deal to provide purification solutions and establish scalable downstream manufacturing processes for exosome-based therapies. Through this collaboration, Sartorius will provide its scalable filtration equipment, such as SartoflowSmart and Sartoflow Advanced, for the clarification, concentration, and formulation of exosomes.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=209343847
About MarketsandMarkets™:
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
