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The global pharmaceutical filtration market size is estimated to grow by USD 10,219.87 million at a CAGR of 10.47% between 2022 and 2027.
Technavio has segmented the market into Type, Technique, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges.
Research and development (R&D) accounts for 15% to 20% of a pharmaceutical company's revenue on average. Many pharmaceutical filter systems companies are making significant investments in this area. For instance, in 2020, Biogen, one of the global manufacturers of pharmaceuticals, expended between 18% and 20% of its revenue on research and development. Similarly, in 2020, F. Hoffmann-La Roche expended approximately 20% of its revenue on R&D. Pharmaceutical manufacturers are expected to spend more money on research and development, which will make more pharmaceutical products available on the market and increase demand for pharmaceutical filtration. Thus the above factors will increase the market growth during the forecast period.
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The market share growth by the sterile segment will be significant during the forecast period. Sterilization is a critical procedure in the pharmaceutical industry that eliminates microorganisms and particles from liquids and gases to guarantee the purity and sterility of products. It is widely utilized in the production of injectable medications, ophthalmic solutions, and various other sterile pharmaceutical preparations. The primary objective of sterile filtration is to safeguard patients from potential microbial contamination during the administration of drugs. As the most crucial filtration process in the pharmaceutical field, the demand for sterile filtration is expected to increase in the coming years. This growth will contribute significantly to the overall expansion of the targeted market during the forecast period.
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The sterile segment was valued at USD 6,212.39 Million in 2017. It is commonly employed to produce injectable drugs, ophthalmic solutions, and other sterile pharmaceutical preparations. The main purpose of sterile filtrations is to protect the patients from potential microbial contamination during drug administration. Since this is the most important pharmaceutical filtration process, sterile filtration is expected to grow during the forecast period. Hence contributing to the growth of the market in focus during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. In North America, the pharmaceutical filtration market is being driven by various factors such as the growing value of pharmaceutical exports in the US, increased healthcare spending, a rising aging population, the demand for advanced filter products in the pharmaceutical industry, improvements in healthcare, and increased research and development activities in the US and Canada. For example, healthcare spending in the US saw a significant increase in 2021, reaching USD 4.3 trillion or USD 12,914 per capita, demonstrating strong growth in this sector. These factors contribute to the expansion of the market.
In 2020, COVID-19 adversely affected all countries in North America, especially the US. However, the pandemic positively impacted the pharmaceutical filtration manufacturing market in North America. Owing to the pandemic, lockdowns were imposed in countries such as Canada and Mexico, besides the US. Thus, people started stocking up on essential items, including pharmaceuticals. This further led to a higher-than-usual demand for the pharmaceutical filtration process. Thus, to meet the demand-supply gap regarding pharmaceuticals in the region, the demand for pharmaceutical filtration increased significantly in 2020 and 2021. Such factors will increase the growth rate during the forecast period.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Amazon Filters Ltd: The company offers pharmaceutical filtration solutions such as Ophthalmic solutions for lens care solutions, and for more difficult products that contain viscosity enhancers.
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Increasing demand for (R&D) due to government healthcare expenditure is driving the market. Achieving a concentrated and pure population of small molecules, cells, proteins, nucleic acids, or clean solutions is crucial across various applications, ranging from laboratory studies to large-scale pharmaceutical production. Filter systems come in different sizes, shapes, and materials to cater to diverse needs and comply with government regulations ensuring product purity and consistency. Pharmaceutical filter systems companies are making significant investments in research and development (R&D), with an average expenditure of 15%-20% of revenue by pharmaceutical companies.
For instance, in 2020, Biogen allocated approximately 18%-20% of its revenue to R&D, while F. Hoffmann-La Roche spent around 20% on R&D during the same period. Increased R&D spending by pharmaceutical manufacturers is expected to lead to the introduction of more pharmaceutical products in the market, driving the demand for pharmaceutical filtration. By outsourcing filtration services, pharmaceutical manufacturers can focus on their core business activities. The growing R&D investments by pharmaceutical manufacturers are anticipated to fuel the demand for comprehensive pharmaceutical filtration, enabling product differentiation in the market.
The increasing number of US FDA-approved manufacturing facilities is the trend in the market growth. Achieving a concentrated and pure population of small molecules, cells, proteins, nucleic acids, or clean solutions is crucial across various applications, ranging from laboratory studies to large-scale pharmaceutical production. Filter systems come in different sizes, shapes, and materials to cater to diverse needs and comply with government regulations ensuring product purity and consistency. Pharmaceutical filter systems companies are making significant investments in research and development (R&D), with an average expenditure of 15%-20% of revenue by pharmaceutical companies. For instance, in 2020, Biogen allocated approximately 18%-20% of its revenue to R&D, while F. Hoffmann-La Roche spent around 20% on R&D during the same period. Increased R&D spending by pharmaceutical manufacturers is expected to lead to the introduction of more pharmaceutical products in the market, driving the demand for pharmaceutical filtration.
Moreover, the outsourcing filtration operations to third-party players allows pharmaceutical manufacturers to reduce capital expenditure and operating costs associated with acquiring filtration machinery, dedicated space, and labor. By outsourcing filtration services, pharmaceutical manufacturers can focus on their core business activities. The growing R&D investments by pharmaceutical manufacturers are anticipated to fuel the demand for comprehensive pharmaceutical filtration, enabling product differentiation in the market.
Risks of counterfeiting in pharmaceutical filtration are challenging the market growth. The pharmaceutical industry faces a significant risk of counterfeit products within its supply chain, posing dangers to consumers' lives and financial implications for vendors. Furthermore, the negative consequences of counterfeit drugs can severely damage a brand's reputation. The global pharmaceutical supply chain, characterized by numerous intermediaries, increases the likelihood of theft or substitution of genuine products with counterfeit ones. Such incidents can occur at various stages, from the beginning to the end of the supply chain, before reaching the end customer.
To mitigate the risk of counterfeiting in the pharmaceutical industry, the US federal government implemented the Drug Quality and Security Act in 2013. This act aims to establish complete traceability of pharmaceutical products by 2023. Through the implementation of serialization across the supply chain, the traceability system enhances efficiency and enables pharmaceutical manufacturers, hospitals, and pharmacies to track prescription drugs throughout their journey. Recent years have witnessed instances where counterfeit or fake products have infiltrated the supply chain during reverse logistics operations, potentially impacting the growth of the targeted market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pharmaceutical Filtration Market Customer Landscape
The pharmaceutical filtration market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Pharmaceutical Filtration Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.47% |
Market growth 2023-2027 |
USD 10,219.87 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.64 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, Germany, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amazon Filters Ltd., Danaher Corp., Donaldson Co. Inc., Eaton Corp. Plc, ErtelAlsop, Freudenberg Filtration Technologies GmbH and Co. KG, General Electric Co., Graver Technologies LLC, KASAG Swiss AG, MANN HUMMEL International GmbH and Co. KG, Meissner Filtration Products Inc., Merck KGaA, MMS AG, Parker Hannifin Corp., Porvair Plc, Repligen Corp., Samsung Electronics Co. Ltd., Sartorius AG, Tetra Laval SA, and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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