Growing demand for biopharmaceuticals, increasing biologics research, and rapid adoption of continuous manufacturing techniques are key factors driving market growth
Market Size – USD 313.4 Million in 2020, Market Growth – at a CAGR of 13.8%, Market Trends – Increasing demand for bioprocessing products
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.
Hollow fibers are also efficient carriers of drugs owing to high surface area to volume ratio. Increasing R&D activities to develop novel drugs, biopharmaceuticals, and therapeutics are expected to boost adoption of hollow fiber membranes and this is expected to drive market growth over the forecast period. However, stringent regulations concerned with safety and efficacy of drugs and biologics is expected to hamper market growth to a certain extent over the forecast period.
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For the purpose of this report, Reports and Data has segmented the global hollow fiber filtration market based on technique, material, application, end-use industry, and region:
Technique Outlook (Revenue, USD Million; 2018-2028)
Material Outlook (Revenue, USD Million; 2018-2028)
Application Outlook (Revenue, USD Million; 2018-2028)
End-use Industry Outlook (Revenue, USD Million; 2018-2028)
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Regional Outlook (Revenue, USD Million; 2018-2028)
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