The global depth filtration market is anticipated to reach USD 4.02 billion by 2025, according to a new report by Grand View Research, Inc. Growing use of depth filters in the manufacturing of healthcare products is projected to be a major driving factor for market growth.
Rising demand for clean & high quality filter goods in pharmaceutical and biopharmaceutical industry is expected to boost the market over the forecast period. Significant benefits such as low cost and ease in the usage of the products is anticipated to augment the market from 2017 to 2025. Depth filtration services have various advantages in water filtration, food & beverages, healthcare, and raw material purification sectors.
Growing research and development activities carried out by companies is projected to propel the market over the forecast period. In March 2017, Merck launched the Milli-Q IQ 7000, it is the seventh-generation Milli-Q water purification technology which provides ultrapure water to scientist in laboratories.
Further key findings from the report suggest:
- The global depth filtration demand was USD 1.5 billion in 2016 and is expected to grow at a CAGR of 11.7% over the forecast period
- Diatomaceous earth emerged as the largest media type segment in 2016 and is estimated to generate a revenue over USD 1.3 billion by 2025
- Rising demand for diatomaceous earth filtration techniques in biopharmaceutical industry as an aid in fractionation of human plasma is projected to propel the industry over the next eight years
- Capsule filters is anticipated to be the fastest growing product segment and is estimating a CAGR of 12.4% over the forecasted period
- Healthcare application segment is anticipated to grow at a significant rate owing to a moderate market share
- Increasing use in healthcare industry to offer venting and microfiltration for medical devices is projected to fuel the market growth
- The Asia Pacific region is anticipated to witness high growth rate at a CAGR of 12.2% by 2025.
- Developing economies in the region, including India and China, have been experiencing strong economic growth, which is expected to drive healthcare and food & beverages industry over the forecast period
- Key players of the industry include Merck KGaA, 3M Company, TPall Corporation, Eaton Corporation PLC, Donaldson Company, Inc, and Sartorius AG
- These major players are often indulged in mergers, joint ventures, & acquisitions, in order to expand their product portfolio and gain market share