Pharmaceutical Filtration Market to Witness 10.6% CAGR till 2023: P&S Market Research

NEW YORK, July 10, 2017 -- 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.

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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.

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.

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.

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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.

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