Pharmaceutical Filtration Market to Grow at a Swift Pace during the Forecast Period

The pharmaceutical filtration market is expected to cross $27.7 billion by 2023, growing at a CAGR of over 10.6% between 2017-2023. Increasing prevalence of chronic diseases, increasing geriatric population and surging healthcare expenditure leading to increased spending on R&D are some of the key drivers for the global market growth. In addition, growing cases of cancer and increasing production of biopharmaceuticals and generic drugs also support the market growth.

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As per the findings of the research, the membrane filter is the largest product category in the global pharmaceutical filtration market. Membrane filter is the microporous film with specific pore size, used for retaining unwanted particles or microorganisms larger than their pore size. Microfiltration has been the largest contributor to the growth of the global market, in terms of revenue, among the various techniques for product filtration. Final product processing has been the largest application area for pharmaceutical filtration, followed by raw material filtration, cell separation, water purification and air purification. Manufacturing-scale of operation has been the largest segment of the global market, based on scale of operation.

Geographically, North America has been the largest pharmaceutical filtration market in 2016, with the U.S. being the larger contributor to the regional market. Increasing prevalence of lifestyle associated and chronic diseases, rising geriatric population and increasing production of biopharmaceuticals are the factors that have been driving the growth of the North American market for pharmaceutical filtration. The U.K. has been the largest contributor to the European market for pharmaceutical filtration, followed by Germany and France. The market is expected to witness the fastest growth in Asia-Pacific during 2017 - 2023, owing to increasing cases of chronic diseases, increasing healthcare expenditure leading to increasing research and development spending and increasing geriatric population.

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Competitive Landscape

Some of the key players in the pharmaceutical filtration market include Merck KGaA, Pall Corporation, GE Healthcare, 3M Company, Parker Hannifin Corporation, Sartorius Stedim Biotech S.A., Eaton Corporation PLC, Graver Technologies, LLC, Amazon Filters Ltd. and Meissner Filtration Products, Inc.

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