Global Hollow Fiber Filter Market Size By Product, By Application, By Geographic Scope And Forecast

Report Highlights

Hollow Fiber Filter Market Size And Forecast

Hollow Fiber Filter Market was valued at USD 260.94 Million in 2019 and is projected to reach USD 695.03 Million by 2027, growing at a CAGR of 12.96% from 2020 to 2027.

The Global Hollow Fiber Filter Market report provides a holistic evaluation of the market for the forecast period. The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics, involves the drivers, restraints, opportunities and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Hollow Fiber Filter Market study provides an outlook on the development of market in terms of revenue throughout the prognosis period.

Global Hollow Fiber Filter Market Overview

The growing adoption of continuous manufacturing by biopharmaceutical companies, coupled with the rising support from regulatory bodies such as the FDA, is one of the major factors that is expected to drive the growth of the hollow fiber filtration market in the coming years. Continuous manufacturing enables the automation of the entire production process while eliminating the need for external intervention. In this scenario, continuous cell perfusion bioprocessing provides several advantages over traditional fed-batch processing, as it enhances scalability to address the increasing demand for biopharmaceuticals. Such benefits have led to the adoption of continuous perfusion systems in the continuous manufacturing of biopharmaceutical materials, proteins, and vaccines as well as in high-density cell banking. Owing to their advantages, regulatory authorities in some countries such as the US are encouraging continuous manufacturing practices among drug manufacturers. For instance, in July 2015, the FDA approved the continuous manufacturing of cystic fibrosis drug Orkambi by Vertex Pharmaceuticals Incorporated (US). Similarly, in April 2016, Janssen Global Services, LLC (Belgium) received approval for the continuous manufacturing of its HIV-1 drug-Prezista.