Compared to 7.7
billion in 2019, the earth would be home to 9.7 billion people by 2050, says
the United Nations, in its 2019 World Population Prospects report. With
population boom, the demand for everything, be it food, water, clothes,
housing, or medicines, will rise too. Plus, with the prevalence of chronic
diseases surging, prescription as well as over-the-counter (OTC) drugs are
needed more than ever. This is leading to huge investments in the
pharmaceutical industry, wherein new production plants as well as research
laboratories are being set up. At both these places, filtration is one of the
most important processes, as the drugs being produced or researched upon must
be completely contamination-free.
Thus, with the
rising need for medicines, the pharmaceutical filtration market size is
predicted to grow considerably in the coming years. For the process, membrane
filters, prefilters and depth media filters, cartridge and capsule filters, single-use systems, filter holders, and filtration
accessories are required. Among these, membrane filters have historically been
bought in the highest numbers, as they are being rapidly used for
pharmaceutical and other related purposes. The reason is that their
installation in large as well as small settings is quite easy.
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Around the world,
currently North America and Europe are the two largest pharmaceutical
filtration markets, as they account for the highest medical drug production
and R&D. These regions have already possessed more advanced technology than
others, which automatically gives them an edge over other regions. The U.S.,
Germany, the Netherlands, Belgium, Switzerland, and Italy are the largest medical
drug exporters around the world.
On similar lines,
several developing countries are rapidly increasing their pharma production,
for which a high requirement for filters is being created. For instance, the
Indian pharmaceutical industry, which valued $33 billion in 2017, would reach $55
billion by 2020, according to the India Brand Equity Foundation (IBEF). Several
multinational companies, such as McKinsey and PwC have iterated that India’s
phara sector would be the fastest growing around the world in the coming years.
It is not just because of domestic companies coming up, but also the shifting
of the drug manufacturing plants of overseas firms.
