(IT-NEWSWIRE.COM, February 14, 2020 ) The growth of Depth Filtration Market will majorly be driven by the increasing production of biologics and large molecules, as depth filtration plays a significant role in providing pure and quality products. Depth filters offer advantages such as low cost and ease of use; these advantages are driving their uptake in the market. However, low capacity of depth filters for high-density harvest is a key challenge in this market.
What the Market Looks Like?
Predicted to grow at a CAGR of 11.7% during the forecast period, the Global Depth Filtration Market is estimated to reach USD 2.96 Billion.
based on application is broadly classified into final product processing, cell clarification, raw material filtration, and other applications (such as water purification and viral clearance). The final product processing segment is further divided into small molecule processing and biologics processing. Similarly, the raw material filtration segment is further categorized into media & buffer filtration and bioburden testing.
Furthermore, based on application, the is categorized into final product processing, cell clarification, raw material filtration, and other applications. In 2017, final product processing segment is expected to account the largest share of the global Depth Filtration Market. The final product processing segmented is further divided into small molecule processing and biologics processing. The large share of the final product processing segment is attributed to the rapid growth in the biopharmaceutical industry, expansion in generics production, and the need for high-quality final products.
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What Drives the Market?
The growth of the global market for Depth Filtration is primarily influenced by the following factors:
• Growth in the Production of Biologics and Large Molecules
• Increasing R&D Expenditure in Pharmaceutical and Biopharmaceutical Companies
• Advantages Such as Low Cost and Ease of Use are Driving the Uptake of Depth Filters
• Emerging Markets Offer Lucrative Growth Opportunities
Geographical growth scenario of Depth Filtration Market:
North America (comprising the U.S. and Canada) is expected to account for the largest share of the global market, followed by Europe. North America is the world’s largest pharmaceutical market and a leader in biopharmaceutical research. Rising quality requirements have emphasized the need for advanced bioproduction technology in this region. Asia-Pacific is expected to grow at the highest CAGR in the forecast period. Significant investments by key market players, increasing government support, developing R&D infrastructure, and growing expertise and academic excellence are the major factors fueling the growth of the Depth Filtration Market in the Asia-Pacific region.
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Leading market players and strategies adopted:
The prominent players in the Depth Filtration Market include Merck KGaA (Germany), Pall Corporation (U.S.), Eaton Corporation Plc (Ireland), and 3M Company (U.S.)
Merck Millipore KGaA (Germany) was one of the leading players offering depth filter cartridges. The company has strengthened its position in the market through the adoption of organic as well as inorganic strategies such as expansions and acquisitions. For instance, in 2015, Merck KGaA acquired Sigma Aldrich (U.S.). With this acquisition, the company enhanced its product range & capabilities and expanded its geographic reach & customer base. Similarly, Merck has expanded its Emprove risk assessment program to include a selection of products for filtration and single-use processing.
Mr. Sanjay Gupta