Depth Filtration Market - Industry-Specific Opportunities and Trends Affecting the Growth
2022-06-08 11:04:15 UTC | Healthcare & Pharmaceuticals
MarketsandMarkets™ Research Report's View on Revenue Impact?
The global depth filtration market is projected to reach USD 2.9 billion by 2025 from USD 1.7 billion in 2019, at a CAGR of 9.0% during the forecast period.
Factors Responsible for Growth and In-Depth Analysis?
The growth is majorly driven by factors such as the growing adoption of disposable filters and benefits such as ease of use and low cost of media and filters. However, factors such as the requirement of high capital investments for setting up production facilities are expected to restrain the growth of this market during the forecast period.
Recent Developments:
In 2019, Sartorius opened manufacturing operations in Yauco, Puerto Rico, to increase its production capacity and deliver a wider array of products to its American customers directly.
In 2019, Merck expanded its distribution capacity in Gillingham, UK.
In 2019, Parker Bioscience Filtration, a part of Parker Hannifin, expanded its facilities at Birtley, UK
Leading Key Players and Analysis:
The major companies operating in the global depth filtration market include Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), GE Healthcare (US), 3M (US), Parker Hannifin Corporation (US), Porvair Filtration Group (UK), ErtelAlsop (US), Amazon Filters Ltd. (UK), Meissner Filtration Products, Inc. (US), Donaldson Comany, Inc. (US), Eaton Corporation (Ireland), Saint-Gobain Performance Plastics (France), Clariance Technique (Australia), Repligen Corporation (US), Microfilt India Pvt. Ltd. (India), Graver Technologies (US), Gusmer Enterprises (US), Filtrox AG (Switzerland), Pure Process (UK), Membrane Solutions (US), Allied Filter Systems Ltd. (UK), Pentair (US), Membracon (UK), and Phenomenex (US)
Geographical Analysis in Detailed?
The global depth filtration market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, Latin America, and Middle-East & Africa. In 2019, North America accounted for the largest share of 38.0% of the global depth filtration market, followed by Europe, with a share of 29.2%. The large share of the North American region can be attributed to a large number of pharmaceutical and biotechnology companies in the region and the presence of a well-established healthcare market. The Asia Pacific market, on the other hand, is expected to register the highest growth during the forecast period. Factors such as increasing research and development by pharmaceutical companies in China, India, and Japan are likely to support the growth of this market.
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Industry Segmentation:
Manufacturing scale segment accounted for the largest share of the depth filtration market.
Based on the scale of operation, the depth filtration market is segmented into manufacturing-scale, pilot-scale, and lab-scale depth filtration. The manufacturing-scale segment is the largest and fastest-growing segment of the depth filtration market. This can be attributed to the increasing R&D activities for the production of biologics.
Cartridge filters are the largest product segment in the depth filtration market.
Based on the product, the depth filtration market is segmented into cartridge filters, capsule filters, filter modules, filter sheets, plate and frame filters, accessories, and other products (includes caps, pads, pods, syringes, bags, and discs). This can be attributed to the high dirt-holding capacity and long service life of these products, which ultimately helps in reducing labor costs by decreasing the filter change-out frequency.
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