Portland, OR, July 15, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global pharmaceutical filtration market generated $5.37 billion in 2018, and is estimated to reach $7.74 billion by 2026, registering a CAGR of 4.6% from 2019 to 2026. The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growingdemand for therapeutic biopharmaceuticals across the globe and rise in technological advancements in nanofiltration technologydrive the growth of the global pharmaceutical filtration market.However,stringent regulations for approval of filtration processis anticipated to restrain the growth of the market. Furthermore,growing biopharmaceutical industry across the developing economies such as China and Indiais anticipated to create new growth opportunitiesfor the market playersduring the forecast period.
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Covid-19 scenario:
- Major pharmaceutical filtration manufactrurers across the globe havehalted their assembling activities during Covid-19 pandemic amid the lockdown.
- Filtration systems in pharmaceutical industry is mostly used for for water purification, product processing, cell separation, and raw material filtration. The demand for these systems is expected to surge during the Covid-19 pandemic due to ongoing research and development of vaccine to cure coronavirus infected patients.
- Growing threat of Covid-19 transmission through air in indoor spaces is expected to increase the demand for filtration system from the pharmaceutical industry for air purification.
The report offers a detailed segmentation of the global pharmaceutical filtration market based onproduct, technique,application, and region.
Based on product, the membrane filters segmentcontributed to the largest share in 2018, accounting formore than one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is alsoestimated to portray the highest CAGR of 6.1% during the forecast period.
Based on technique, the microfiltration segmentaccounted for the largest share in 2018, holding nearlytwo-fifthsof the total share, and is expected to maintain the largest share throughout the forecast period. However,the nanofiltration technique segmentis expected to register the highest CAGR of 5.5% from 2019 to 2026.
Based on region,North Americacontributed the highest share, accounting fornearly two-fifthsof the total market sharein 2018, and will maintain its dominance throughout the forecast period.However, Asia-Pacificisexpected to grow at the highest CAGR of 6.2% from 2019 to 2026.
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Leading market players analyzed in the research include Danaher Corporation (Pall Corporation), 3M Company,General Electric Company (GE Healthcare),Amazon Filters Ltd., Meissner Filtration Products, Inc., Eaton Corporation Plc, Parker-Hannifin Corporation,Graver Technologies, LLC,Sartorius Stedim Biotech S.A., and Merck & Co., Inc.
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