Pharmaceutical Membrane (Microfiltration, Ultrafiltration) Filtration Market - Global Forecast to 2024: Intense Competition in the Market - A Critical Barrier for New Entrants - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 18, 2019--
The “Pharmaceutical Membrane Filtration Market by Product (Filter, Systems), Technique (Microfiltration, Ultrafiltration), Material (PES, PVDF, PTFE, PCTE), Application (Final Product (Sterile), Raw Material (Bioburden), Cell Separation, Air) - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The global pharmaceutical membrane filtration market is estimated to grow from USD 5.1 billion in 2019 to reach USD 8.6 billion by 2024, at a CAGR of 11.0% during the forecast period.
The rising adoption of single-use technologies, rapid growth in the pharmaceutical and biopharmaceutical industries, and the growing demand for nanofiltration are the major factors driving the growth of this market.
Systems segment to grow at the highest CAGR in the pharmaceutical membrane filtration market, by product
On the basis of product, the pharmaceutical membrane filtration market is segmented into filters, systems, and accessories. The systems segment is estimated to witness the highest growth during the forecast period owing to the increasing adoption of single-use technologies in membrane filtration.
Raw material filtration segment to grow at a high CAGR during the forecast period
On the basis of application, the pharmaceutical membrane filtration market is segmented into final product processing, raw material filtration, cell separation, water purification, and air purification. The raw material filtration segment is estimated to witness high growth during the forecast period. The increasing focus of regulatory bodies on ensuring the safety of the pharmaceutical manufacturing process has made this application a crucial part of the pharmaceutical processes.
APAC market to grow at the highest CAGR during the forecast period
The global pharmaceutical membrane filtration market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period owing to the expansion of key players in countries such as Singapore, China, and India and the significant spending on R&D activities in several APAC countries.
The major companies operating in the pharmaceutical membrane filtration market are Merck Millipore (Germany), Danaher (US) and Sartorius Stedim Biotech (France).
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SOURCE: Research and Markets
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PUB: 12/18/2019 12:36 PM/DISC: 12/18/2019 12:36 PM