The value of the sterile filtration market stood at USD 9,034.2 million in 2023, and this number is projected to reach USD 19,111.3 million by 2030, advancing at a CAGR of 11.0% during the projection period. This growth of the market can be credited to the growing occurrence of chronic illnesses, rising R&D activities among medicinal and biotechnology businesses, and increasing government funding for drug development.
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The industry is projected to get a lift during the projection period from the growing chronic disease load and increasing number of biotechnology and pharmaceutical businesses. The most dominant chronic illnesses include diabetes, cardiovascular diseases, and cancer.
As per a government source, in the U.S., around 37.5 million individuals were identified with diabetes in 2022. Thus, the growing R&D activities because of the increasing load of diabetes are projected to enhance the industry growth potential.
Based on product, cartridge filter is the dominant category, as this item provides more efficacy and cost-efficiency. Moreover, it is more appropriate for applications where dust requires to be totally removed or recovered.
A cartridge filter contains of a piece of tube filtration equipment, which can be utilized in all sorts of manufacturing applications to fulfill many requirements. It can be utilized in brewing, dairy processing, wine clarification, water treatment, and pharmaceutical production. Apart from, that it can be used in reverse osmosis.
Based on end user, pharmaceutical & biopharmaceutical companies grip the largest share of the industry, propelled by the development of their research and development activities. In recent years, pharmaceutical businesses invested around USD 140 billion in research and development as a result of the surge in the demand for medications.
Furthermore, high expenditure enhances the capability of such companies to use innovative techs. Therefore, in view of the fact that biopharmaceutical businesses use these assemblies in their manufacturing procedures, their robust R&D emphasis is projected to propel the industry development.
In 2023, North America had the largest share, of more than 50%. The dominance of the region in the sterile filtration industry is because of the growing R&D activities of pharma and biotech businesses for medication development, increasing healthcare spending, and fast technical advancements.
