Pharmaceutical Filtration Market Like to Touch $7.74 Billion by 2026
Pune, Maharashtra, India, December 4 2020 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, “Pharmaceutical Filtration Market by Product Type, Technique Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global pharmaceutical filtration market size was valued at $5,379 million in 2018, and is projected to reach $7,740 million by 2026, growing at a CAGR of 4.6% from 2019 to 2026.
Pharmaceutical filtration is defined as a filtration process to separate suspended particles from a medium or solution by passing them through a membrane. They reduce or eliminate the bacteria or other microorganisms in process components. The filtration process can be combined with other pharmaceutical manufacturing operations. Pharmaceutical filters are used in the production of small molecule ingredients such as active pharmaceutical ingredients (APIs) and pharmaceutical excipients. In addition, it is utilized in manufacturing of variety of dosage forms such as tablets, capsules, injectable, solutions, and others. Furthermore, it is used in many processes such as final product processing, raw material filtration, cell separation, water purification, and air purification.
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The major factors that boost the growth of the global pharmaceutical filtration market include technological advancements in pharmaceutical filters; surge in the production of biologics, large molecules, APIs, and generics; rise in spending on R&D due to rise in government healthcare expenditure; increase in incidence of various diseases such as dengue, chikungunya, and malaria; and rise in demand for filters in pharmaceutical and biopharmaceutical industry. In addition, strong biologic pipeline products; increase in adoption of innovative treatment therapies such as monoclonal antibodies, therapeutic proteins, and vaccines in the pharmaceutical industry; and rise in number of pharmaceutical and biopharmaceutical companies across the globe are further expected to boost the market growth during the forecast period. However, large capital requirement and low income and lack of proper medical attention in the developing countries hamper the growth of the pharmaceutical filtration market.
Based on product type, the market is categorized into membrane filters, prefilter & depth filter media, single-use systems, catriage & capsules, filter holders, filtration accessories, and others. Presently, membrane filters dominates the global market, and is anticipated to continue this trend during the forecast period. The key factors that drive the market growth include increase versatility & efficiency, lower operation costs, high performance, ease of use, and rise in demand for good manufacturing practices (GMP) and single-use technologies in the pharmaceutical industry.
According to technique type, the market is classified into microfiltration, ultrafiltration, nanofiltration, and other techniques. Currently, microfiltration segment is the major shareholder in the global pharmaceutical filtration market, owing to technological advancements in microfiltration process, rise in pharmaceuticals and processed food industries, and increase in awareness regarding water quality. In addition, advantages offered by microfiltration process are low operating pressure, relatively cheap, low energy consumption as compared to nano-filtration osmosis, and few manual actions required during the filtration process.
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By application, the final product processing accounted for the highest revenue share in the pharmaceutical filtration market in 2018, and is expected to maintain its dominance during the forecast period. This is attributed to rise number of pharmaceutical industries, increase in use of biologic drug products, surge in use of filters in protein purification process, and technological advancement in filtration process. In addition, strong presence of pipeline monoclonal antibodies and commercial availability of monoclonal antibodies are expected to offer remunerative opportunities for the market expansion in the near future.
Key Findings of the Study:
Based on product type, the membrane filters segment held more than one forth share in the global market in 2018.
By technique type, the microfiltration segment accounted for the largest market share in 2018, and is expected to remain dominant throughout the forecast period.
Based on application, the final product processing segment held more than one forth share in the global market in 2018.
Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.2% during the forecast period.
In 2018, North America accounted for the major share in the pharmaceutical filtration market, and is expected to continue this trend during the forecast period, owing to availability of well-developed infrastructure, higher number of R&D activities with large presence of key players, rise in demand for filters in pharmaceutical industry, surge in production of biologics and generics, and increase in non-government & government initiatives to promote healthcare. However, Asia-Pacific is expected to register the highest growth in the coming future, owing to improvement in healthcare infrastructure, technological advancements in the field of healthcare, and the developing R&D sector.
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