CHICAGO, Dec. 12, 2019 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, the global Pharmaceutical Membrane Filtration Market is valued at an estimated USD 5.1 billion in 2019 and is projected to reach USD 8.6 billion by 2024, growing at a CAGR of 11.0% during the forecast period.
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The growth of this market is primarily driven by the growth of the pharmaceutical and biopharmaceutical industry, increasing demand for single-use technologies, and the advancements in nanofiltration techniques.
Filters segment accounted for the largest share of the Pharmaceutical Membrane Filtration Market, by product, in 2018
On the basis of product, the market is segmented into filters, systems, and accessories. Filters formed the largest product segment in this market owing to the high and growing use of different types of membrane filters for various filtration applications in the biopharmaceutical manufacturing industry.
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Final product processing segment accounted for the largest share of the Pharmaceutical Membrane Filtration Market, by application, in 2018
On the basis of application, the market is segmented into final product processing, raw material filtration, cell separation, water purification, and air purification. Final product processing was the largest application segment in the market in 2018. The increasing production of generics, rapid growth in the biopharmaceutical industry, and the increasing adoption of membrane filters in protein purification, sterile filtration, and viral clearance processes are the major factors driving the growth of this application segment.
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In 2018, North America was the largest regional market for pharmaceutical membrane filtration
The global market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2018, North America was the largest market for pharmaceutical membrane filtration, followed by Europe. The large share of North America can be attributed to several factors, such as the presence of key biopharmaceutical manufacturing facilities in the region and the significant spending on research and development activities in the US.
The major companies operating in the Pharmaceutical Membrane Filtration Market include Merck Millipore (Germany), Danaher (US) and Sartorius Stedim Biotech (France).
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