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(MoneyNewsWire.Net, May 01, 2018 ) The global pharmaceutical filtration market is projected to reach USD 22.71 Billion by 2021 from USD 13.73 Billion in 2016, at a CAGR of 10.6% during the forecast period.
Growth in the market for pharmaceutical filtration is primarily driven by factors such as growth in the production of biopharmaceuticals, technological advancements in filtration equipment, and rapid growth in generics production. Other factors supporting market growth include an increase in R&D spending by biopharmaceutical companies leading to a strong biologics pipeline and government mandates to have a clean and safe research and manufacturing environment. In addition, growing adoption of pharmaceutical filters in the lucrative emerging markets is expected to offer growth opportunities for manufacturers of pharmaceutical filtration solutions. However, huge capital investments required to set up new production facilities is restraining the growth of this market.
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The global pharmaceutical filtration market is segmented on the basis of product, technique, application, scale of operation, and region. On the basis of product, the market for pharmaceutical filtration is segmented into membrane filters, prefilters and depth media filters, cartridge & capsule filters, single-use systems, filter holders, filtration accessories, and other products. In 2016, the membrane filters segment accounted for the largest share of the market. This segment is also expected to register the highest CAGR during the forecast period. The key factor driving the growth of the membrane filters segment is the ease of installation in large and small manufacturing facilities owing to the availability of a variety of pore and surface types.
Based on technique, the microfiltration segment dominated this market in 2016. The technique is applied to various applications ranging from the removal of unwanted suspensions to the removal of bacteria from the process material. This is the major factor responsible for the large share of this segment.
Based on application, the final product-processing segment is expected to register the highest CAGR during the forecast period owing to the rapidly growing biologics and generic drug production coupled with the presence of stringent regulatory guidelines to maintain a clean and safe manufacturing environment.
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Based on scale of operation, the manufacturing scale segment is expected to register the highest growth during the forecast period. The high growth in this segment can primarily be attributed to the growth in the biopharmaceutical industry coupled with the outsourcing of pharmaceutical and biopharmaceutical production in emerging countries.
North America accounted for the largest share of the pharmaceutical filtration market in 2016. The growing biopharmaceutical industry and the presence of a large number of market players are propelling the growth of the North American market. However, the Asian region is estimated to witness the highest growth during the forecast period. In recent years, the Asian market for pharmaceutical filtration is witnessing significant growth owing to the rapid growth in generic drug production, increasing number of contract research and manufacturing organizations, and increasing focus of international players in emerging markets.
Major players operating in the pharmaceutical filtration market include Merck KGaA (Germany), GE Healthcare (U.S.), Pall Corporation (U.S.), Parker Hannifin Corporation (U.S.), and Sartorius Stedim Biotech S.A. (France).
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