What Is The Scope Of The Global Hollow Fiber Filtration Market?
Hollow fiber filtration is a membrane filtration technique that uses bundles of narrow, flexible tubes (hollow fibers) to separate components in a fluid. It is commonly used for water purification, medical applications, and bioprocessing due to its high surface area and efficient separation capabilities.
Hollow Fiber Filtration Global Market Report 2024 provides data on the global hollow fiber filtration market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hollow fiber filtration market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Hollow Fiber Filtration ?
The hollow fiber filtration market has expanded rapidly, growing from $0.54 billion in 2023 to $0.64 billion in 2024 at a CAGR of 17.4%. Growth factors include the focus on patient safety, infection control, and increased global healthcare spending. The market is expected to double to $1.23 billion by 2028, maintaining a CAGR of 17.7%, driven by the demand for single-use devices to reduce contamination, modernization of healthcare facilities, and a focus on home-based healthcare. Key trends include smart feature integration, sustainability in manufacturing, and advancements in safety features like ergonomic designs and remote monitoring capabilities.
What Are The Leading Drivers Of Growth In The Hollow Fiber Filtration Market?
The growth of the pharmaceutical industry is expected to propel the hollow fiber filtration market. The pharmaceutical sector is expanding due to the rising demand for healthcare and global market growth, alongside technological advancements. Hollow fiber filtration is used in drug manufacturing to purify biomolecules like proteins and antibodies. For example, in June 2023, the European Federation of Pharmaceutical Industries and Associations reported a rise in pharmaceutical market value from $256.45 billion in 2020 to $298.20 billion in 2022. The growth of this industry is supporting the growth of the hollow fiber filtration market.
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How Are The Segments Defined Within The Global Hollow Fiber Filtration Market?
The hollow fiber filtration market covered in this report is segmented –
1) By Membrane Material: Polysulfone (PS), Mixed Cellulose Ester, Polyvinylidene Difluoride (PVDF), Polyethersulfone (PES), Other Membrane Materials
2) By Technology: Microfiltration, Ultrafiltration, Other Technologies
3) By Application: Protein Concentration And Diafiltration, Cell Culture Harvest And Clarification, Virus Or Viral Vector Filtration, Raw Material Filtration, Other Applications
4) By End-Use: Pharmaceuticals, Biotechnology, Food And Beverages, Water And Wastewater Treatment, Other End-Uses
How Are New Trends Expected To Influence The Growth Of The Hollow Fiber Filtration Market?
Firms in the hollow fiber filtration market are focusing on advanced high-strength hollow fiber membrane technology to improve filtration efficiency and durability. This technology effectively separates contaminants through a porous membrane structure. For instance, in November 2021, Toray Industries Inc., a Japan-based chemical company, introduced a hollow fiber ultrafiltration membrane module for applications like food production and biotechnology processes. This module reduces energy consumption, supports carbon neutrality, and achieves over 80% CO2 emission reductions compared to traditional methods, while withstanding thermal sterilization and high-temperature filtration.
Which Region Drives The Highest Growth In The Hollow Fiber Filtration Market?
North America was the largest region in the hollow fiber filtration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hollow fiber filtration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
