Rising Adoption of Membrane Filters in Various Industries May Boost the Pharmaceutical Filtration Market. Pharmaceutical Filtration Becomes a Crucial Factor in the Growth of Biopharmaceutical Industry.
NEWARK, Del: , Sept. 28, 2023 (GLOBE NEWSWIRE) -- The pharmaceutical filtration market is likely to hold a valuation of US$ 45.08 billion by 2033. As of 2023, the market is anticipated to be US$ 19.19 billion. With advancements in the healthcare industry, the pharmaceutical filtration market is expected to grow outstandingly at a CAGR of 8.9% from 2023 to 2033.
Pharmaceutical filtration is used in the manufacturing of complex drugs, vaccines, and biologics to filter out contaminants from the final products. It is also used in wastewater treatment projects to filter out harmful nanoparticles from industrial water before reusing it. Pharmaceutical filtration also has applications in the aerospace and electronics industries, where it is used to filter out contaminants such as dust, particles, and bacteria from the shop floor premises.
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Medical device manufacturers also use pharmaceutical filtration technology to keep the machines sterile and uncontaminated from impurities in the manufacturing process. The pandemic and the expansion in production capabilities of the pharmaceutical industry have played a huge role in the growth of the pharmaceutical filtration market in recent years.
The rising safety standards of the government regulatory bodies regarding the safety and quality of drugs and medical consumables are also set to contribute to the growth in the size of the pharmaceutical filtration market. Private firms in countries like the US are investing huge amounts to make pharmaceutical filtration more cost-effective, efficient, and feasible.
Membrane filters are the most versatile, easy-to-install, affordable, and preferred choice of filtration technology in the pharmaceutical industry. They hold a global revenue share of 33.3% in the pharmaceutical filtration market. Due to the adoption by the manufacturing sector of various industries, the pharmaceutical filtration market is set to exhibit significant growth in the years to come.
“The implications of adopting new filtration technologies in markets other than medical industries can potentially fetch a lot of revenue opportunities for private companies involved in the manufacturing of pharmaceutical filtration products and services”, shares Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Pharmaceutical Filtration Market Report:
The North American region showed a 27.6% share of the pharmaceutical filtration market.
The demand for renal function tests is rising in India as well, which showed a promising market share of 12.5%.
Based on product type, membrane filters dominate the pharmaceutical filtration market with a 33.33% global revenue share.
Apart from the medical industry, pharmaceutical filtration finds its application in new technologies like gene therapy, biopharmaceuticals, and many more.
Methodology Details Just a Click Away:
Recent Developments in the Field of Pharmaceutical Filtration:
Single Use Support GmbH, a biopharma firm, has pioneered disposable filtration systems composed entirely of disposable components.
It includes the fluid pathway and filters. This innovation renders them remarkably cost-effective and user-friendly. The fusion of filtration systems with digital platforms enhances accessibility and adaptability. This technology empowers operators to remotely manage filtration systems from any location worldwide. Innovative researchers are crafting advanced membranes from nanomaterials like graphene and carbon nanotubes to enhance pharmaceutical filtration.
Top Key Players in the Pharmaceutical Filtration Market:
Thermo Fisher Scientific
Meissner Filtration Products
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Key Market Segments Covered in Pharmaceutical Filtration Industry Research
Prefilters and Depth Media Filters
Cartridge & Capsule Filters
By Scale of Operation:
Research and Development Scale Application
Final Product Processing
Raw Material Filtration
By End User:
The Middle East and Africa (MEA)
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at Related Reports of the Pharmaceutical Filtration Market:
Pharmaceutical Drug Delivery Market: The global pharmaceutical drug delivery demand is likely to register a CAGR of 6.4%. The market revenue is likely to be valued at US$ 1.9 trillion in 2023 and exhibit a revenue growth of US$ 3.5 trillion by 2033.
Pharmaceuticals Excipients Market: The pharmaceuticals excipients market is expected to register a CAGR of 6% during the forecast period, up from US$ 7.9 Bn in 2021 to reach a valuation of US$ 10.9 Bn by 2026.
Injectable Drug Delivery Market: The injectable drug delivery market is expected to expand its roots with a steady CAGR of 8.9% during the forecast period. The market holds a share of US$ 45.3 billion in 2023 while expecting revenue of US$ 106.4 billion by 2033.
Topical Antibiotic Pharmaceuticals Market: Topical antibiotics are applied to a certain area of the skin to kill infections. Application of topical antibiotics has a number of advantages in comparison of systemic delivery in the treatment of skin infections.
Pharmacovigilance Market: The pharmacovigilance market is anticipated to increase, from US$ 6.87 billion in 2023 to US$ 23.31 billion in 2033. According to FMI, the market is expected to expand at a CAGR of 13% over the course of the projected period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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