Copyright © 2024 Research Nester. All Rights Reserved
Depth Filtration Market size was valued at USD 2.35 billion in 2023 and is expected to reach USD 6.71 billion by 2036, expanding at around 8.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of depth filtration is assessed at USD 2.51 billion.
The market is projected to witness a significant growth owing to the growth in production of biologics & large molecules and rise in research & development expenditure in biopharmaceuticals & biotechnology companies. Additionally, rising demand for depth filters in the food and beverage industry and the manufacturing process of pharmaceutical drug therapies are estimated to drive the global market. Furthermore, an increase in demand for depth filters across the bioprocessing industry especially in single-use technology coupled with several benefits offered by these filters such as low cost and user-friendly characteristics are estimated to fuel the market growth over the forecast period.
Growth Drivers
Proliferating Adoption of Single-Use Filtration Technology To Fuel the Growth of the Global Market
Increasing investments in the research and development by pioneer companies for the development of large molecules is estimated to act as a major driver for market growth. Additionally, usage of depth filtration across the globe for extraction of large molecules coupled with the characteristics of depth filtration such as low-budget, separation of high-denseness of pre-heated steams are estimated to support the development of the global market over the forecast period. Furthermore, the convenience of depth filtration in the healthcare industry for emitting and microfiltration towards medical devices along with the rising demand for pure and high essence filter goods are expected to fuel the global market growth.
Challenges
Strict Rules and Regulations
The market is anticipated to be hindered by factors such as stringent rules & regulation by government bodies, lack of knowledge over the concept of depth filtration, and the requirement of high capital investment for setting up depth filtration manufacturing facility.
|
Base Year |
2023 |
|
Forecast Year |
2024–2036 |
|
CAGR |
8.4% |
|
Base Year Market Size (2023) |
USD 2.35 billion |
|
Forecast Year Market Size (2036) |
USD 6.71 billion |
|
Regional Scope |
|
The depth filtration market is segmented by media type, product, application and by operation scale. Among these segments, the product segment is further classified into cartridge filters, capsule filters, filter modules, filter sheets, out of which, the cartridge filters segment is anticipated to hold leading shares in the market on account of high dirt-holding capacity and long service life of these products, which results in reducing labor costs by decreasing the filter change-out frequency. On the contrary, the diatomaceous earth of media type segment accounted for the largest share of the global market owing to its wide range of applications in the pharmaceutical and biopharmaceutical industry. Furthermore, the manufacturing segment of the operation scale is anticipated to witness robust growth on account of increasing R&D activities to produce biologics.
Our in-depth analysis of the global market includes the following segments:
|
By Media Type |
|
|
By Product |
|
|
By Application |
|
|
By Operation Scale |
|
Based on regions, the depth filtration market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in North America industry is expected to account for largest revenue share by 2036, owing to presence of numerous pharmaceutical and biotechnology companies in the region, along with presence of a well-established healthcare infrastructure. On the contrary, the Asia Pacific market is expected to register a robust growth on account of the factors such as increasing research and development by pharmaceutical companies in nations such as China, India, and Japan.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?