Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSIntroduction to Depth Filtration
Depth filtration is termed as a process of separating suspended particle or liquid droplet from its carrying fluid within the depth (thickness) of the filter medium and is widely applied in downstream bioprocessing to separate cells, cell debris, and other colloidal matter. They consist of a wide variety of different filter sheet media, which can be used for various purposes such as turbidity removal, i.e. from coarse to fine particles, polishing filtration, colloidal removal, chill haze removal, and also for removal of microbial spoilage or reduction of microorganism (mold, yeast, and bacteria). Depth filtration functions through several ways of retention involving sieving, interception, adsorption, and absorption. The structure of depth filters can be contemplated as that of sponge where it removes submicron particles, soluble materials and colloidal materials by taking advantage of media for high contaminant removal. They normally constitute higher loading capabilities and flow rates compared to the membrane filter. They are broadly used across different industries such as food and beverages, healthcare, pharmaceutical, and biotechnology, owing to its capability of extracting solid materials from the liquids.
Market Size and Forecast
The global depth filtration market is projected to witness a significant growth owing to the growth in production of biologics & large molecules and rise in research & development expenditure in biopharmaceuticals & biotechnology companies. Additionally, rising demand for depth filters in the food and beverage industry and the manufacturing process of pharmaceutical drug therapies are estimated to drive the global market. Furthermore, an increase in demand for depth filters across the bioprocessing industry especially in single-use technology coupled with several benefits offered by these filters such as low cost and user-friendly characteristics are estimated to fuel the market growth over the forecast period.
The global depth filtration market is anticipated to record a notable CAGR over the forecast period i.e. 2020-2028. The market is segmented by media type, product, application and by operation scale. Among these segments, the product segment is further classified into cartridge filters, capsule filters, filter modules, filter sheets, out of which, the cartridge filters segment is anticipated to hold leading shares in the depth filtration market on account of high dirt-holding capacity and long service life of these products, which results in reducing labor costs by decreasing the filter change-out frequency. On the contrary, the diatomaceous earth of media type segment accounted for the largest share of the global market owing to its wide range of applications in the pharmaceutical and biopharmaceutical industry. Furthermore, the manufacturing segment of the operation scale is anticipated to witness robust growth on account of increasing R&D activities to produce biologics. CLICK TO DOWNLOAD SAMPLE REPORT
Growth Drivers
Proliferating Adoption of Single-Use Filtration Technology To Fuel the Growth of the Global Market
Increasing investments in the research and development by pioneer companies for the development of large molecules is estimated to act as a major driver for market growth. Additionally, usage of depth filtration across the globe for extraction of large molecules coupled with the characteristics of depth filtration such as low-budget, separation of high-denseness of pre-heated steams are estimated to support the development of the global market over the forecast period. Furthermore, the convenience of depth filtration in the healthcare industry for emitting and microfiltration towards medical devices along with the rising demand for pure and high essence filter goods are expected to fuel the global market growth.
Restraints
Strict Rules and Regulations
The global depth filtration market is anticipated to be hindered by factors such as stringent rules & regulation by government bodies, lack of knowledge over the concept of depth filtration, and the requirement of high capital investment for setting up depth filtration manufacturing facility.
Market Segmentation
Our in-depth analysis of the global depth filtration market includes the following segments:
By Media Type
By Product
By Application
By Operation Scale
By Region
Based on regions, the depth filtration market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in North America is anticipated to account for the largest share of the global depth filtration market owing to the presence of numerous pharmaceutical and biotechnology companies in the region along with the presence of a well-established healthcare infrastructure. On the contrary, the Asia Pacific market is expected to register a robust growth on account of the factors such as increasing research and development by pharmaceutical companies in nations such as China, India, and Japan.
The global depth filtration market is further classified on the basis of region as follows:
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