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(Health-NewsWire.Net, September 09, 2020 ) The study involved two major activities in estimating the current size of the depth filtration market. Exhaustive research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
According MarketsandMarkets Research - The Global Depth Filtration Market is projected to reach USD 2.9 billion by 2025 from USD 1.7 billion in 2019, at a CAGR of 9.0% during the forecast period.
Market Size Estimation;
For the calculation of the global market value, the segmental revenue was arrived at based on the revenue mapping of major players active in the protein engineering market. This process involved the following steps:
- Generating a list of the major global players operating in the depth filtration market
- Mapping the annual revenue generated by major global players from their depth filtration business (or the nearest reported business unit/product category)
- Mapping the revenue of major players to cover 70-80% of the global market as of 2018
- Extrapolating the value to 100% to arrive at the global market size
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Cartridge filters segment accounted for the largest share of the market.
Based on the product, the depth filtration market is segmented into cartridge filters, capsule filters, filter modules, filter sheets, plate and frame filters, accessories, and other products (includes caps, pads, pods, syringes, bags, and discs). The cartridge filters segment accounted for the largest share of the global depth filtration market in 2019. This can be attributed to the high dirt-holding capacity and long service life of these products.
Diatomaceous Earth segment accounted for the largest share of the depth filtration market.
Based on media, the depth filtration market is broadly segmented into diatomaceous earth (DE), activated carbon, cellulose, perlite, and other media (glass fibers, quartz, borosilicate, and resin binders). The DE filters segment accounted for the largest share of 41.3% of the global depth filtration market in 2018. The large share of this segment is attributed to the high-quality filtration offered by DE and its wide range of applications in the pharmaceutical and biopharmaceutical industry.
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The global depth filtration market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, Latin America, and Middle-East & Africa. In 2019, North America accounted for the largest share of 38.0% of the global depth filtration market, followed by Europe, with a share of 29.2%. The large share of the North American region can be attributed to a large number of pharmaceutical and biotechnology companies in the region and the presence of a well-established healthcare market. The Asia Pacific market, on the other hand, is expected to register the highest growth during the forecast period.
Key Market Players;
The major companies operating in the global depth filtration market include Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), GE Healthcare (US), 3M (US), Parker Hannifin Corporation (US), Porvair Filtration Group (UK), ErtelAlsop (US), Amazon Filters Ltd. (UK), Meissner Filtration Products, Inc. (US), Donaldson Comany, Inc. (US), Eaton Corporation (Ireland), Saint-Gobain Performance Plastics (France)
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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