The global pharmaceutical filtration market is poised to reach USD 22.71 Billion by 2021 from USD 13.73 Billion in 2016, at a CAGR of 10.6% from 2016 to 2021.
Emerging markets offer lucrative growth opportunities
Developing countries, including China, India, Russia, and Brazil, offer high growth opportunities for players in the pharmaceutical filtration market. Growth in the Asian economies, particularly China and India, and the growing biopharmaceutical industry are major drivers for the expansion of this market in Asia. In 2015, these markets contributed to approximately 30% of the global biopharmaceutical industry.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209343847
Among the Asian countries, India is the largest provider of generic medicines globally and is expected to be the third-largest generic API provider. In the near future, key industry players are expected to establish new facilities as well as R&D and innovation centers to expand their presence in emerging markets. Furthermore, India, China, Korea, and Brazil are a hub for pharmaceutical outsourcing owing to the cost advantages and talent pool offered by these countries. India has more than 175 U.S. FDA-approved manufacturing units that provide ~40% lower operational costs in comparison to its western counterparts.
The governments of various Asian countries have been allocating large amounts of their budgets to encourage research in the field of life sciences. For instance, the Global Health Innovative Technology Fund (GHIT Fund) is a public-private partnership in Japan that funds various R&D activities for drug discovery, which also includes the screening of compound libraries related to various infectious diseases. Moreover, the largest number of biotechnology and pharmaceutical patents are filed in Asia. According to WIPO (World Intellectual Property Organization), patent offices in Asia received 61.9% of all patent applications worldwide in 2015, highlighting the increased R&D activities in the region.
Thus, emerging economies are expected to offer high growth opportunities in the pharmaceutical filtration market owing to the burgeoning biopharmaceutical industry.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=209343847
Huge capital investments required to set up new production facilities
Manufacturing facilities of filtration equipment and accessories require high capital investments from biopharmaceutical companies. The machinery and manufacturing equipment by itself is very expensive. In addition, it requires technical understanding, manufacturing expertise, and personnel training, which adds to the cost of manufacturing. According to American Water Works Association (AWWA), in 2010, the equipment, construction, operation, and maintenance cost of pilot testing was in the range of USD 68,500–USD 137,000 per unit. Owing to the high costs, incorporating and maintaining filtration equipment can be quite challenging for companies.
Thus, high capital requirements and stringent regulations for new plants are limiting the entry of smaller players in the market.
Browse Related Reports:
Antibody Production Market by Process (Upstream Processing, Downstream Processing, and Filtration), End-User (Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, and Research Institutes) - Global Forecast to 2021
Depth Filtration Market by Media Type (Diatomaceous Earth, Activated Carbon, Cellulose), Product (Filter Cartridge, Capsule Filter), Application (Final Product Processing (Small Molecules, Biologics), Cell clarification) - Global Forecast to 2022
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email:Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pharmaceutical-filtration-market-209343847.html
