Global Pharmaceutical Filtration Market, 2023 - High Cost of Pharmaceutical Filtration Process Restraining the Market

DUBLIN, November 17, 2017 /PRNewswire/ --

The "Pharmaceutical Filtration Market: Analysis and Forecast to 2023" report has been added to Research and Markets' offering.

According to the study, the global pharmaceutical filtration market is likely to grow significantly during the forecast period, due to increasing prevalence of chronic diseases, rising prevalence of cancer, increasing geriatric population and increasing production of biopharmaceuticals and generic drugs.

In addition, rising healthcare expenditure leading to increase in research and development spending also contributes to the growth of the overall market. High cost of pharmaceutical filtration and stringent regulatory requirements for validation of filtration process are the key factors restraining the global market growth.

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. Final product processing has been the largest application area for pharmaceutical filtration, followed by raw material filtration, cell separation, water purification and air purification. Manufacturing-scale of operation has been the largest segment of the global market, based on scale of operation.

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.