The North America Hollow Fiber Filtration Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028).
Significant investments are being made by many businesses in the development of biologics and biosimilars. More than half of all medication candidates are biologics, such as peptides, monoclonal antibodies, and proteins, in the early stages of the discovery stage. Biologics are expected to generate over half of the total revenue generated by the top 100 pharmaceutical products in the near future.
48 novel biologics and medications were approved by the US Food and Drug Administration (FDA) in 2019. It is anticipated that raising investments by biopharmaceutical sector companies in the development of biologics and biosimilars will increase the number of approved drugs and boost the global output of biopharmaceutical drugs.
Large-molecule therapies, biologics, and biosimilars are all rapidly gaining popularity as novel biologics-based treatments are introduced, despite the fact that small-molecule medications still dominate the worldwide pharmaceuticals business. As a result, the revenue of the current biologics sector grows as well.
Due to the increase in R&D efforts in the biopharma industry, the hollow fiber filtration market is anticipated to expand in this area. Given that hollow fiber filters are widely employed in the pharmaceuticals industry's downstream process, rising R&D activities and the demand for biosimilar products in the U. S. region present lucrative growth potential for the industry. For instance, Thermo Fisher Scientific Inc. committed almost USD 475 million in March 2020 to strengthen its global commercial capabilities and expand its facilities for developing biologics, cell and gene therapy, and medicinal products.
The US market dominated the North America Hollow Fiber Filtration Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $382.6 Million by 2028. The Canada market is poised to grow at a CAGR of 15.1% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 14.1% during (2022 - 2028).
Based on Application, the market is segmented into Protein Concentration & Diafiltration, Cell Culture Harvest & Clarification, Virus or Viral Vector Filtration, Raw Material Filtration, and Others. Based on End User, the market is segmented into Pharmaceutical & Biotechnology Companies, CMOs & CROs, and Academic & Research Institutes. Based on Technology, the market is segmented into Microfiltration, Ultrafiltration, and Others. Based on Process, the market is segmented into Reusable and Single-use. Based on Material, the market is segmented into Polyethersulfone (PES), Polysulfone (PS), Mixed Cellulose Ester, Polyvinylidene Difluoride (PVDF), and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Hollow Fiber Filtration Market is Estimated to reach $1.4 Billion by 2028, at a CAGR of 13.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Repligen Corporation, Sartorius AG, Asahi Kasei Corporation, Meissner Filtration Products, Inc., Danaher Corporation, Merck KGaA, Parker Hannifin Corporation, Cole-Parmer Instrument Company, LLC (Antylia Scientific) (GTCR LLC), Sterlitech Corporation, and Synder Filtration, Inc.
By Application
By End User
By Technology
By Process
By Material
By Country
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