Global pharmaceutical filtration market is projected to advance at a CAGR of 10.6% during 2017–2023. The increasing prevalence of chronic diseases, including the rise in cancer cases; growing geriatric population; and rising production of generic drugs and biopharmaceuticals are the key factors driving the growth of the market. Additionally, rising healthcare expenditure, which is resulting in higher spending on research and development (R&D), is contributing to the market growth. However, high pharmaceutical filtration cost and strict regulations for the validation of the filtration process are the factors hindering the market growth.
Insights on the market segments
Based on product, membrane filters dominated the pharmaceutical filtration market during the historical period. Membrane filter is a microporous film with a specific pore size, which is used for removing unwanted particles or microorganisms from the processed product.
On the basis of technique, microfiltration held the largest share in the pharmaceutical filtration market during the historical period. Among various applications, final product processing contributed the largest revenue to the market in 2016. On the basis of scale of operations, manufacturing-scale operations dominated the market during the historical period, as the highest revenue generator.
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North America stands as the largest pharmaceutical filtration market, globally
Geographically, North America led the pharmaceutical filtration market in 2016, with the U.S. accounting for the larger revenue share in the region as compared to Canada. The rising prevalence of chronic and lifestyle-associated diseases, growing geriatric population, and increasing biopharmaceutical production are the major factors behind the progress of the market in North America. Similarly, the U.K. led the European market for pharmaceutical filtration solutions, followed by Germany and France.
During 2017–2023, Asia-Pacific (APAC) is expected to be the fastest-growing pharmaceutical filtration market, on account of the increasing cases of chronic diseases, growing healthcare expenditure resulting in increased investments in R&D, and rising geriatric population.
Increasing prevalence of chronic diseases largely impacting the market
On the global front, the rising prevalence of chronic diseases is one of the key factors supporting the pharmaceutical filtration market growth. The rapidly growing burden of such diseases is compelling government bodies and healthcare providers to offer improved medical facilities and treatment options, which is also resulting in the high number of drugs being launched around the world.
The prevalence of chronic diseases is rising because of the changing lifestyle and limited access to preventive care. According to the Centers for Disease Control and Prevention (CDC), around 117 million people in the U.S. suffered from at least one chronic health condition in 2012. The CDC also reported that 54.4 million adults in the U.S. were diagnosed with arthritis, lupus, gout, or fibromyalgia in one or the other form during 2013–2015. Further, an estimated 78 million people (18 years or older) in the U.S. would be diagnosed with arthritis by 2040.
As per the International Agency for Research on Cancer (IARC), a dedicated cancer agency working under the World Health Organization (WHO), cancer was detected in 12.7 million new patients across the world in 2008, and the number is projected to increase to 21.4 million by 2030. Moreover, as per the WHO, 8.2 million people died due to cancer globally in 2012. Of these, 1.6 million died because of lung cancer, 745,000 because of hepatic cancer, and 400,000 because of esophageal cancer.
The growing prevalence of chronic diseases is expected to result in increased mortality rate and economic cost. Thus, numerous developments are taking place in the pharmaceutical industry, resulting in drug production, which, in turn, is helping the pharmaceutical filtration market grow around the world.
Key players in the pharmaceutical filtration market
Leading players in the global pharmaceutical filtration market include Pall Corporation, Merck KGaA, 3M Company, GE Healthcare, Sartorius Stedim Biotech S.A., Parker Hannifin Corporation, Graver Technologies LLC, Eaton Corporation PLC, Meissner Filtration Products Inc., and Amazon Filters Ltd.
GLOBAL PHARMACEUTICAL FILTRATION MARKET, BY PRODUCT
GLOBAL PHARMACEUTICAL FILTRATION MARKET, BY TECHNIQUE
GLOBAL PHARMACEUTICAL FILTRATION MARKET, BY APPLICATION
GLOBAL PHARMACEUTICAL FILTRATION MARKET, BY SCALE OF OPERATION
GLOBAL PHARMACEUTICAL FILTRATION MARKET, BY GEOGRAPHY
North America Pharmaceutical Filtration Market
Europe Pharmaceutical Filtration Market
Asia-Pacific Pharmaceutical Filtration Market
Latin America Pharmaceutical Filtration Market
Middle East and Africa Pharmaceutical Filtration Market