Growing demand for biopharmaceuticals, increasing biologics research, and rapid adoption of continuous manufacturing techniques are key factors driving market growth
The global hollow fiber filtration market size is expected to reach USD 881.53 Million by 2028 at a CAGR of 13.8%, according to the latest report by Reports and Data. Growing demand for biopharmaceuticals, increasing research and development activities for biologics, and rapid adoption of continuous manufacturing techniques across various industries are key factors expected to drive market revenue growth over the forecast period. Growing progress in bioprocessing, availability of skilled professionals, and increasing opportunities in biopharmaceutical sector are also expected to drive market growth over the forecast period.
Hollow fiber is the most widely used membrane in industrial applications, particularly in filtration. Hollow fibers have a membrane coated on the outside of a porous support. Hollow fiber bioreactors, which are largely used in medical industry, are made from cellulose and synthetic polymers. Hollow fiber membranes also have a very high packaging density due to its small strand diameters that allow specific filter configuration. Application has been increasing in various end-use industries and this is expected to contribute significantly to revenue growth of the market over the forecast period. In addition, hollow fibers systems are small tubes that can be filled with drug solutions. The fiber wall is equipped with permeable membrane that is highly effective in controlled release of drugs and this is expected increase its adoption in pharmaceutical industry and drive market growth going ahead.
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The World Health Organization (WHO) declared the severe acute respiratory syndrome novel coronavirus 2 (SARS-CoV-2) outbreak in Wuhan, China, as a worldwide pandemic in December 2019. SARS-CoV-2 infection is classified as a novel coronavirus disease by the WHO. COVID-19 has infected more than 150 million people worldwide, resulting in more than 3 million deaths. COVID-19 has had a big influence on the healthcare business, causing major disruptions throughout the supply chain, from raw materials to manufacture and delivery. The global demand for medical ventilators has prompted manufacturers to increase demand by up to 40% to 50%. Producers have also collaborated in order to meet rising demand. Governments and a variety of organisations, as well as other industry personnel, are all working hard to address the global problem. Leading personnel are active in research and development operations, strategic alliances and collaborations, and creative product releases in order to meet consumer demands for pharmaceuticals, vaccines, diagnostics, and medical equipment such as ventilators. Without a doubt, this is the first time in contemporary history that the diagnostics industry has been given such prominence. Participants in the healthcare business have abruptly shifted from under the carpet to above the carpet's demand. The world has acknowledged the necessity for early warning systems in the healthcare sector, currently for COVID-19, but this pattern will continue in the future for other sorts of diagnostics.
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Key Players covered in this report are
Asahi Kasei Corporation, Repligen Corporation, GE Healthcare, Danaher Corporation, Parker-Hannifin Corporation, Koch Membrane Systems, Inc., Watersep Bioseparation Corporation, Toyobo Co., Ltd., Microdyn-Nadir GmbH, Cantel Medical Corporation, and Coorstek, Inc.
Based on Product Type market is segmented into:
Technique Outlook (Revenue, USD Million; 2018-2028)
- Reverse Osmosis
Material Outlook (Revenue, USD Million; 2018-2028)
Application Outlook (Revenue, USD Million; 2018-2028)
- Harvest Clarification
End-use Industry Outlook (Revenue, USD Million; 2018-2028)
- Pharmaceutical Manufacturers
Based on Region market is segmented into:
- North America
- South America
- Middle East Africa
Some Key Highlights From the Report:
- Microfiltration segment is expected to account for largest revenue share in the global market owing to increasing use of hollow fiber filters with microfiltration in various processes in biopharmaceutical sectors such as clarification, purification of cell broths, and separation of macromolecules, among others.
- Polymeric segment is expected to register significant revenue growth over the forecast period, attributable to increasing use if polymeric hollow fiber filters in ultrafiltration and microfiltration.
- Perfusion segment is expected to register considerable revenue growth over the forecast period owing to increasing need for continuous cell perfusion systems to reduce operational and production costs and time.
- Pharmaceutical manufacturers segment is expected to account for largest revenue share in the global market over the forecast period, attributable to increasing demand for biologics, rising drug discovery and development activities, and rapid adoption of continuous manufacturing techniques.
- North America is expected to account for largest revenue share in the global market over the forecast period owing to fast-paced development of advanced products such as perfusion systems, growth of biopharmaceutical sector, and increasing adoption of advanced manufacturing technologies.
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