Hollow Fiber Filtration Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Global Hollow Fiber Filtration Market: Overview
The growing desire for continual manufacturing, the booming biopharmaceutical sector, and growing usage of single-use technologies are all likely to add to the development of the global hollow fiber filtration market in the years to come. Developing countries, as well as augmented investment in cell-based research, are projected to present substantial growth opportunities for the participants in the global hollow fiber filtration market. The market is expected to expand throughout the forecast period, from 2020 to 2030, thanks to factors such as the increasing demands for continuous water and waste water treatment and growing government restrictions. However, factors such as fiber breakage and irreversible fouling, as well as high operational costs, are likely to curtail market expansion in the years to come.
The report, titled "global hollow fiber filtration market” makes an analysis of the key market areas such as material, technique, application, end user and regional markets. It also assesses the current competition in the global hollow fiber filtration market for the forecast period of 2020 to 2030.
Global Hollow Fiber Filtration Market: Key Trends
Many businesses are making substantial investment in biologics and biosimilars development. Biologics like monoclonal antibodies, peptides, and proteins account for over half of the total drug candidates in the initial stage or the discovery stage. In the foreseeable future, biologics are predicted to account for almost half of the total income produced by the top 100 pharmaceutical items. The US Food and Drug Administration (FDA) authorized 48 new biologics and medicines in 2019. Increasing investments by biopharmaceutical firms in the development of biologics and biosimilars are projected to raise the number of authorized medicines and expand the production of biopharmaceutical medication across the globe. Despite the fact that small-molecule medicines lead the global pharmaceuticals industry, large-molecule therapies, biosimilars, and biologics are also gaining rapid traction as new biologics-based treatments are launched. With this, the revenue of the existing biologics sector also increases.
Filtration is utilized in the bioprocessing business as a regular unit operation. It is also used in conjunction with other unit operations for the purpose of purification, isolation, and separation of bio-therapeutics. Filtration is also crucial for substances like cell therapy, gene therapy, vaccines, and recombinant proteins. Companies are concentrating on adopting sophisticated bioprocessing technologies across the process to meet the increasing demands for biopharmaceuticals. It also comprises filtration systems that make use of hollow fiber filters, like perfusion systems. These systems are in high demand amongst the biopharmaceutical firms because they assist in reducing the expenses related to intricate processes. In addition, it boosts productivity and helps in maintaining compliance to filtering requirements of GMP and FDA. As a result, the global hollow fiber filtration market is projected to rise in tandem with the biopharmaceutical business.
Global Hollow Fiber Filtration Market: Competitive Assessment
One of the recent developments in the global hollow fiber filtration market is mentioned as below
Some well-known companies in the global hollow fiber filtration market are listed below:
Global Hollow Fiber Filtration Market: Regional Assessment
North America is estimated to account for a sizeable chunk of the global hollow fiber filtration market over the forecast period, from 2020 to 2030. The region's high share of the market is ascribed to the fact that regional firms are focusing primarily on developing innovative products such as perfusion systems. In addition, the growing demand for filtering systems in the biopharmaceuticals industry along with the cost-efficiency and comfort of dealing with hollow fiber filters is further likely to drive the regional market.
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