STERILE FILTRATION MARKET ANALYSIS

Sterile Filtration MarketSize and Trends

The global sterile filtration market size was valued at US$ 5.2 billion in 2017 and is expected to witness a CAGR of 13.3% over the forecast period (2018 – 2026).

Global Sterile Filtration Market Share (%) Analysis, By Region 2018

Source: Coherent Market Insights Analysis (2019)

Increasing investments in pharmaceuticals is expected to drive growth of the sterile filtration market

Increasing investments in pharmaceuticals and high prevalence of chronic and acute diseases are the major factors driving growth of the sterile filtration market. According to the Organisation for Economic Co-operation and Development (OECD), investment in pharmaceuticals across OECD countries was around US$ 800 billion in 2013, which accounted for around 20% of total investment in healthcare. Moreover, high demand for medicines and the introduction of new drugs are key factors responsible for increasing investments in pharmaceutical industry. According to the same source, between 2000 and 2013, the use of antidiabetic, anti-depressant, and antihypertensive medications increased double fold, while the use of cholesterol-lowering drugs tripled. These trends reflect an increasing demand for pharmaceuticals sterile filtration.

Moreover, increased prevalence of several chronic diseases such as cancer, diabetes, and mental illness has increased demand for medical treatments. For instance, according to the Cancer Research U.K., around 55,122 new cases of breast cancer were registered in the country in 2015. Furthermore, improvements in diagnosis, leading to early recognition of conditions and early treatment with medicines, along with development of novel medicines to treat common conditions have contributed to increasing consumption of medicines. Therefore, such developments in the pharmaceutical industry are driving the sterile filtration market growth.

Sterile Filtration Market - Regional Insights

On the basis of region, the global sterile filtration market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe sterile filtration market is expected to witness significant growth, owing to technological advancements in nanofibers, increasing production of large molecules and biologics, growth in the generics market, and regulatory mandates for cleanrooms in pharmaceutical production.

Moreover, low pharmaceutical research and development cost in Asia Pacific in comparison to developed regions is expected to increase investment of key players in the region.