KEY FINDINGS The global pharmaceutical filtration market is evaluated to register a CAGR of 8.67% during the forecast period 0f 2019-2028. A surge in R&D spending due to Increasing government healthcare expenditure, development in the biopharmaceutical industry, rise in the production of biologics, are the drivers boosting the market growth.
MARKET INSIGHTS Pharmaceutical filtration is the process of removing solid impurities and undissolved powders from the processed materials, resulting in the removal of micro-organisms.Filtration is adopted in the pharmaceutical industry to maintain sterility of the product and check contamination in the processed solution.
The governments of all the regions across the globe have increased healthcare spending, which is expected to boost the adoption of filters in the pharmaceutical and biopharmaceutical industry. Low income, lack of proper medical attention, and large capital requirements in underdeveloped countries are expected to restrain the market growth. Membrane filters are the dominating product in the market, accounting for both the highest CAGR and largest market share.Final product processing is the largest revenue-generating application segment, and is also evaluated to attain the highest growth rate, due to the growing number of pharmaceutical industries and regulatory guidelines to maintain a clean manufacturing process and quality product.
There is low product differentiation in the market, but the players are not willing to deconstruct their businesses due to a considerable amount of investment involved, making the exit barriers difficult.
REGIONAL INSIGHTS The global pharmaceutical filtration market is geographically studied on the basis of classification that includes in North America, Europe, Asia Pacific, and the Rest of the World. The region of North America proclaimed the largest market share in 2019, and retains it throughout the forecast period, owing to a surge in demand for modern filtration products in the pharmaceutical industry.
COMPETITIVE INSIGHTS The market encompasses a number of renowned players. Some of the acclaimed players operating in the market Siemens Healthineers AG, 3M Company, Eaton Corporation PLC, GEA Group AG, Amazon Filters Ltd, among others.
Our report offerings include: • Explore key findings of the overall market • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges) • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions • Market Segmentation cater to a thorough assessment of key segments with their market estimations • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc. • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc. • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned 1. 3M COMPANY 2. AMAZON FILTERS LTD 3. EATON CORPORATION PLC 4. GE HEALTHCARE 5. GEA GROUP AG 6. GRAVER TECHNOLOGIES LLC 7. MEISSNER FILTRATION PRODUCTS INC 8. MERCK & CO INC 9. PALL CORPORATION (DANAHER CORPORATION) 10. PARKER-HANNIFIN CORPORATION 11. SARTORIUS STEDIM BIOTECH SA 12. SIEMENS HEALTHINEERS 13. THERMO FISHER SCIENTIFIC INC
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