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Global Pharmaceutical Filtration Market to Witness 10.6% CAGR during 2017 – 2023 by P&S Market Research

Global Pharmaceutical Filtration Market to Witness 10.6% CAGR during 2017 – 2023 by P&S Market Research

According to a new market research report “Global Pharmaceutical Filtration Market Size, Share, Development, Growth and Demand Forecast to 2023 – Industry Insight by Product (Membrane Filters, Prefilters & Depth Media Filters, Cartridge & Capsule Filters, Single-Use Systems, Filter Holders, Filtration Accessories, Others), by Technique (Microfiltration, Ultrafiltration, Nanofiltration, Others), by Application (Final Product Processing, Raw Material Filtration, Cell Separation, Water Purification, Air Purification), by Scale of Operation (Manufacturing-Scale, Pilot-Scale, R&D-Scale)” published by P&S Market Research, the global pharmaceutical filtration market is expected to grow at a CAGR of 10.6% during 2017 – 2023.

Access Report Overview: https://www.psmarketresearch.com/market-analysis/pharmaceutical-filtration-market

Increasing production of generic drugs drive the global market

According to the study, the global pharmaceutical filtration market is likely to grow significantly during the forecast period, due to increasing prevalence of chronic diseases, rising prevalence of cancer, increasing geriatric population and increasing production of biopharmaceuticals and generic drugs. In addition, rising healthcare expenditure leading to increase in research and development spending also contributes to the growth of the overall market. High cost of pharmaceutical filtration and stringent regulatory requirements for validation of filtration process are the key factors restraining the global market growth.

Insights on market segments

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.

North America stands as the largest pharmaceutical filtration market

Geographically, North America has been the largest market for pharmaceutical filtration, with the U.S. being the larger contributor to the regional market, compared to Canada. 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.

Increasing prevalence of chronic diseases largely impacts the market

Globally, the increasing prevalence of chronic diseases has been playing a key role in the growth of the pharmaceutical filtration market. The rapidly increasing burden of chronic diseases further compels government organizations and healthcare providers to provide improved facilities for effective disease treatment leading to increased drug launch globally.

Prevalence of chronic diseases is increasing due to alteration in lifestyle and lack of access to preventive care. According to the Centers for Disease Control and Prevention (CDC), in 2012, approximately 117 million people in the U.S. had one or more chronic health conditions. The organization also reported that during 2013 – 2015, 54.4 million U.S. adults were diagnosed with some form of arthritis, rheumatoid arthritis, gout, lupus or fibromyalgia. Moreover, an estimated 78 million Americans aged 18 years or above will be diagnosed with arthritis by 2040.

According to the International Agency for Research on Cancer (IARC), a specialized cancer agency of World Health Organization (WHO) that promotes cancer research, 12.7 million new patients globally were detected with cancer in 2008, and the number is expected to reach 21.4 million by 2030. In addition, according to the WHO, 8.2 million deaths took place globally due to cancer in 2012, out of which 1.6 million were due to lung cancer, while 745,000 deaths resulted from liver cancer and 400,000 deaths were an outcome of esophageal cancer.

The increasing burden of chronic diseases is expected to result in higher death rates and additional economic cost. Thus, several developments have been taking place for efficient disease treatment, leading to increased production of drugs supporting the growth of the pharmaceutical filtration market globally.

Explore Report Sample at: https://www.psmarketresearch.com/market-analysis/pharmaceutical-filtration-market/report-sample

Key players in the pharmaceutical filtration market

Some of the key players in the global 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.

About P&S Market Research

P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

Web: https://www.psmarketresearch.com

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