Rapid Growth Projected: Pharmaceutical Filtration Market Valued at $26.2 Billion by 2028

 Growth in the pharmaceutical filtration market can be attributed to factors such as rapid growth in the R&D and manufacturing of biopharmaceuticals, growing adoption of single use filters, new product developments by key market players, growing filtration scrutiny by regulatory bodies, and advanced development in nano fiber technologies. Despite this, issues such as membrane fouling, and the large capital investment required to set up new production facilities are expected to hinder market growth.

The report Pharmaceutical Filtration Market is projected to reach USD 26.2 billion by 2028 from USD 13.5 billion in 2023, at a CAGR of 14.2% during the forecast period of 2023 to 2028.

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KEY MARKET DYNAMICS: 

         

           1 DRIVERS

                   1.1 Growing biopharmaceutical industry

                   1.2 Rising R&D spending in pharmaceutical and biotechnology industries

                   1.3 Increasing adoption of single-use technologies

                   1.4 New product launches by leading market players

                   1.5 Increasing purity requirements in end-user segments

           2 RESTRAINTS

                   2.1 Membrane fouling issues

                   2.2 Requirement of high capital investments for new production facilities

           3 OPPORTUNITIES

                   3.1 Growth opportunities in emerging economies

                   3.2 Advances in nanofiber technology

           4 CHALLENGES

                   4.1 Increased cost and reduced speed and yield of filters

                   4.2 Survival of small players and new entrants

 

Market Segmentation: -

Based on products, the pharmaceutical filtration market is segmented into filters, systems, and other products. Filters segment accounted for the largest share of the pharmaceutical market, membrane filters are the key revenue contributors to this segment. Membrane filters are microporous plastic films with specific pore size ratings. These filters are used to separate contaminated particles from liquids. They are available in a variety of polymers, pore sizes, diameters, and surface types.

Based on technique, the pharmaceutical filtration market is segmented into microfiltration, ultrafiltration, nanofiltration, and other techniques. The other techniques segment includes reverse osmosis and ion exchange. The nanofiltration techniques accounted for the smallest market share of this market in 2022, and this can be primarily attributed to the limited retention for salts and univalent ions by nanofilters; nanofiltration membranes being comparatively more expensive than reverse osmosis membranes.

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Regional Analysis:-

Based on the region, the Pharmaceutical filtration market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the rapid technology development in nanofiber technologies, expanding manufacturing of generics, growing government budget for R&D, and growing biotechnology industries.

Recent Developments:

• In January 2023, Sartorius AG (Germany) and RoosterBio, Inc. (US) signed a collaboration deal to provide purification solutions and establish scalable downstream manufacturing processes for exosome-based therapies. Through this collaboration, Sartorius will provide its scalable filtration equipment, such as SartoflowSmart and Sartoflow Advanced, for the clarification, concentration, and formulation of exosomes.
• In June 2022, Donaldson Company Inc. (US) acquired Purilogics, LLC (US), an early-stage biotechnology company that manufactures membrane chromatography products. Through this acquisition, the company will have access to the purification tools for a wide range of biologics, including mRNA, plasmid DNA, viral particles, monoclonal antibodies, and proteins that Purilogics offers.

Top Key Players:

Key players in the drug discovery service Market include Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), 3M (US), Thermo Fisher Scientific Inc. (US).

Conclusion:

The pharmaceutical filtration market is undergoing rapid evolution, driven by technological advancements, regulatory imperatives, and industry shifts toward sustainability and efficiency. As drug formulations become more complex and personalized, filtration techniques must keep pace to ensure the safety and effectiveness of pharmaceutical products.

 

Hemodialysis Market - Global Growth Drivers & Opportunities | MarketsandMarkets

 The increasing incidence of chronic kidney disease, the availability of advanced dialysis, machines disposables and replacement fluids, and increasing government initiatives to increase the accessibility of dialysis treatment and growing adoption home hemodialysis are expected to drive market growth in the coming years.

The global Hemodialysis Market is projected to reach USD 105.1 billion by 2026 from USD 76.9 billion in 2021, at a CAGR of 6.4% during the forecast period.

Key Market  Dynamics

          1 DRIVERS

                   1 Increasing number of ESRD patients 
                   2 Growing prevalence of diabetes and hypertension                   
                   3 Shortage of organ donors and risks associated with kidney transplants
                   4 Technological advancements and product launches

          2 RESTRAINTS

                   1 Risks and complications of dialysis
                   2 Reimbursement concerns in emerging markets

          3 OPPORTUNITIES

                   1 Emerging markets
                   2 The increasing number of dialysis centers
                   3 Growing preference for home hemodialysis treatment

          4 CHALLENGES

                  1 Benefits of renal transplantation
                  2 Sustainability of small and medium-sized companies in a highly competitive market
                  3 Product recalls

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Market Segmentation: -

The increasing demand for dialysis product among chronic kidney patients, increase focus of players in establishing independent dialysis centers, and growing preference of patients to opt for treatment in in-center dialysis are some of the factors likely to boost the growth of the segment.

The increasing demand for invisible braces among adults due to large adult population base with AKI, increase in prevalence of ESRD, growing awareness about the benefits associated with home peritoneal dialysis, and the growing adoption of dialysis products among ESRD patients.

Significant rise in number of dialysis service provider, coupled with the growing prevalence of ESRD. Along with this growing focus of dialysis service providers towards expansion of their services offerings by launching and acquiring new dialysis centers across the globe is likely to contribute towards the growth of the segment.

Regional Analysis: -

Geographically, the emerging Asian countries, such as China, India, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific point of care market is projected to grow at the highest CAGR of 8.8% from 2021 to 2026. Expansion of healthcare infrastructure and increase in disposable personal income, increase patient population with acute kidney disease, diabetes, hypertension are factors likely to support the growth of hemodialysis and peritoneal dialysis market in the region.

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Recent Developments:

·         In 2021, Mar Cor (Cantel Medical Corporation) announced the launch of its innovative EON Portable hemodialysis Water System

·         In 2020, Fresenius Medical Care AG & Co. KGaA announced the launch of a PVC-free peritoneal dialysis solution bag designed for dialysis therapy performed at home.

·         In 2020, Baxter International Inc. received FDA approval for De Novo application for Theranova dilayzers designed to deliver expanded hemodialysis (HDx) therapy.

Market Growth and Impact:

The combined opportunities within the hemodialysis and peritoneal dialysis market reflect a broader trend towards patient-centered kidney care. As the healthcare industry shifts towards value-based care models, investments in kidney health can yield substantial returns not only financially but also in terms of improved patient outcomes, reduced healthcare costs, and enhanced overall wellbeing.

Top Key Players: -

Prominent players in this Hemodialysis Market are Baxter International Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), NIKKISO CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Asahi Kasei Corporation (Japan), Toray Medical Co., Ltd. (Japan), among others.

Conclusion: -

Investing in kidney health by recognizing the opportunities within the hemodialysis and peritoneal dialysis market is not only a financially sound decision but also a chance to contribute to a healthier and more fulfilling life for millions of individuals. By supporting technological advancements, patient-centric approaches, and innovative care models, investors can play a pivotal role in shaping the future of kidney health and renal care.

Ventilators Market - High prevalence of respiratory diseases

 The growth of the global ventilators market is driven by the rising burden of respiratory diseases, urbanization, and rising pollution levels, rising obesity cases due to sedentary lifestyle, rapid growth in geriatric population worldwide, growing preference for home care settings, rising number of preterm births, outbreak of infectious respiratory diseases. However, shortage of skilled medical workers, excessive purchase of ventilators during covid-19, reimbursement concerns is expected to negatively impact market growth during the forecast period.

Ventilators market is projected to reach USD 5.4 Billion in 2027 from USD 3.9 Billion in 2022, at a CAGR of 6.3% during the forecast period according to a new report by MarketsandMarkets™. 

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Browse in-depth TOC on " Ventilators Market"

230 - Tables  
60 - Figures  
268 – Pages

Ventilators Market DYNAMICS         

       DRIVERS

§  Rising burden of respiratory diseases

§  Increasing incidence of COPD and asthma

§  Urbanization and rising pollution levels

§  Rising obesity cases due to sedentary lifestyles

§  Rapid growth in geriatric population worldwide

§  Growing preference for home care settings

§  Rising number of preterm births

§  Outbreak of infectious respiratory diseases

       RESTRAINTS

§  Shortage of skilled medical workers

§  Excessive purchase of ventilators during COVID-19

§  Reimbursement concerns

      OPPORTUNITIES

§  Cost efficiency of home care services

§  Growth opportunities in emerging economies

      CHALLENGES

§  Low awareness and unavailability of adequate resources in emerging economies

§  Harmful effects of certain respiratory devices on neonates

Market Segmentation:

·         In 2021, the intensive care ventilators segment accounted for the largest share of the ventilators market. The intensive care ventilators segment will continue to dominate the market during the forecast period.

·         In 2021, the adult/pediatric ventilators segment accounted of the ventilators market. The large share of the adult/pediatric ventilators segment can be attributed to the rising number of smokers and the increasing geriatric population worldwide.

·         In 2021, the hospitals and clinics segment accounted of the ventilators market. The hospitals and clinics segment will continue to dominate the market during the forecast period.

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Regional Analysis:

The APAC market is expected to grow at the highest rate during the forecast period, mainly due to high-growth markets like Japan, China, India, South Korea, Taiwan, Australia, and Singapore. The rising geriatric population, increasing COVID-19 patient volume, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, and expansion of private-sector hospitals to rural areas in various APAC countries are the major factors driving the growth of the ventilators market in this region.

Recent Developments:

• In June 2021, Vyaire Medical, Inc. partnered with GenWorks Healthcare Limited. The partnership in India expands the company's footprint and provides greater accessibility to high-quality pulmonary screening, testing, and treatment.
• In November 2020, Koninklijke Philips N.V. partnered with African Union. This partnership led to the launch of a first-of-its-kind ventilator exchange program to allow the replacement of outdated intensive care unit (ICU) ventilators.
• In May 2020, Vyaire Medical, Inc. partnered with Spirit AeroSystems. This partnership helped accelerate the production of ventilators and other related respiratory equipment.

Key players in the ventilators market

The prominent players in the ventilators market are Koninklijke Philips N.V. (Netherlands), ResMed (US), Medtronic (Ireland), Vyaire Medical, Inc. (US), Getinge AB (Sweden), Drägerwerk AG & CO. KGAA (Germany), ICU Medical, Inc. (US), Hamilton Medical (Switzerland), GE Healthcare (US), Air Liquide (France), Asahi Kasei Corporation (Japan), Allied Healthcare Products, Inc. (US), Nihon Kohden Corporation (Japan), Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China), Skanray Technologies (India), Baxter International Inc, (US), aXcent Medical GmbH (Germany), Metran Co., Ltd (Japan), MAGNAMED (Brazil), Leistung Ingeniería SRL(Argentina), Avasarala Technologies Limited (India), Airon Corporation (Florida), TRITON Electronic Systems Ltd. (Russia), Bio-Med Devices, Inc. (US), and HEYER Medical AG (Germany).

 

Advancements in In Vitro Diagnostics: Global Growth Projections

 Introduction:

The field of medical diagnostics has made substantial progress over the years, and a significant contributor to this advancement is the In Vitro Diagnostics (IVD) industry. IVD refers to medical tests performed using bodily samples such as blood, urine, or tissues, outside the body. In this blog post, we will explore the global growth forecasts and factors driving the IVD industry.

The Growing IVD Market:

The IVD market is poised for substantial growth. According to the report titled "In Vitro Diagnostics Market," it is projected to reach USD 138.4 billion by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 3.3% during the forecast period.

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Let's delve into the key drivers fueling this growth.

Key Drivers of Growth: Several crucial factors are contributing to the expansion of the IVD industry:

1. Changing Disease Patterns: The IVD market is influenced by evolving disease emergence patterns. As the prevalence of chronic and infectious diseases continues to rise, the demand for diagnostic tests also increases significantly. Early and accurate diagnosis is essential for effective disease management.
2. Prevalence of Chronic and Infectious Diseases: The growing incidence of chronic conditions like diabetes and infectious diseases like COVID-19 underscores the importance of diagnostic testing. IVD plays a pivotal role in disease detection, monitoring, and management.
3. Private Sector Investments: Increased investments from private players have propelled innovation and technological advancements in the IVD industry. This has led to the development of sophisticated diagnostic analyzers and tests, improving diagnostic accuracy and efficiency.

Challenges to Growth:

Despite its promising outlook, the IVD industry faces certain challenges. An unfavorable reimbursement scenario poses a significant hurdle to market growth. Addressing this challenge will be crucial for sustaining the industry's upward trajectory.

Segmentation Insights:

1. Products and Services: The IVD market is segmented into reagents & kits, instruments, services, and data management software. Instruments, driven by technological advancements, are expected to register the highest growth during the forecast period. These innovative analyzers provide faster and more accurate diagnostic results, contributing to their increasing adoption.

2. Technology: The IVD market encompasses various technologies, including immunoassay/immunochemistry, clinical chemistry, molecular diagnostics, hematology, microbiology, coagulation & hemostasis, urinalysis, and others. Hematology, driven by the adoption of point-of-care (POC) testing, is expected to achieve the highest CAGR. Innovative POC solutions are enhancing the speed and accessibility of hematology diagnostics.

3. Applications: IVD applications include infectious diseases, diabetes, oncology, cardiology, drug testing/pharmacogenomics, HIV/AIDS, autoimmune diseases, nephrology, and others. Oncology, fueled by increased government and private funding for cancer research, is poised to register the highest growth. IVD tests play a critical role in early cancer detection and personalized treatment plans.

4. End Users: The IVD market serves various end users, including hospital laboratories, clinical laboratories, academic institutes, point-of-care (POC) testing centers, patients, and others. Hospital laboratories dominate the market, conducting a significant number of daily IVD tests. The accuracy of these tests aids physicians in decision-making and treatment planning.

Regional Insights:

The Asia Pacific region is expected to register the highest CAGR during the forecast period. Factors such as increased healthcare spending, modernization of healthcare infrastructure, and the adoption of advanced clinical laboratory technologies are driving this growth. Government initiatives to raise awareness about early disease detection further contribute to market expansion in the region.

Recent Developments:

Several recent developments highlight the industry's commitment to innovation and expansion:

• Thermo Fisher Scientific's launch of the rapid RT-PCR Accula Flu A/Flu B Test in 2022.
• Sysmex Corporation's introduction of the UF-1500 Fully Automated Urine Particle Analyzer for urine sediment testing.
• Al-Futtaim Health's strategic partnership with Abbott Laboratories to enhance advanced laboratory diagnostics in Dubai.

Key Market Players:

Prominent players in the IVD market include Roche Diagnostics, Danaher Corporation, Abbott Laboratories, Siemens Healthineers AG, and Thermo Fisher Scientific, among others. These companies are at the forefront of research, innovation, and strategic collaborations to advance the field of in vitro diagnostics.

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Conclusion:

The In Vitro Diagnostics industry is on a growth trajectory, driven by the need for early and accurate disease diagnosis and monitoring. Despite challenges, the industry's continuous innovation and commitment to improving healthcare outcomes position it as a vital component of modern medicine. As it continues to evolve, the IVD industry will play a pivotal role in enhancing patient care worldwide.