by The Pharmaceutical Water Market is estimated to be valued at US$ 6.26 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pharmaceutical water is hugely important in manufacturing processes of pharmaceutical and healthcare products. Right from manufacturing of medicines in the form of tablets, capsules, syrups and other solid dosage forms to cleaning production equipment and facilities, pharmaceutical grade water plays a critical role. It is used for various applications including injection, irrigation, APIs and intermediates production, formulation and solubilization, purification, sterilization and others.
Market Dynamics:
Stringent regulations regarding usage of pure water for pharmaceutical productions is a key driver propelling the market growth. Various global regulatory authorities like the US Food and Drug Administration (FDA) and European Medicines Agency (EMA) have implemented stringent guidelines regarding management of water systems and water quality standards for pharmaceutical production. This has compelled pharmaceutical manufacturers to invest heavily in water purification technologies likeReverse Osmosis (RO), Ultrafiltration (UF) and others. Another major driver is the continuous technological advancements in water treatment solutions for the pharmaceutical industry. Membrane-based water treatment systems are gaining more prevalence as they offer features like continuous and automated operations with higher purity levels. Also, they enable real-time water quality monitoring.
Segment Analysis
The pharmaceutical water market is segmented by source into equipment and services. The equipment segment dominates the market and accounts for around 65% share owing to rising need for clean and filtered water in pharmaceutical manufacturing and processing. Quality testing and monitoring equipment hold major share as they are essential to ensure pure quality of water in pharmaceutical processes.
PEST Analysis
Political: Stringent regulations regarding pharmaceutical water quality by regulating bodies like WHO, FDA etc. have pushed companies to invest in advanced purification equipment to meet regulatory standards.
Economic: Rising healthcare spending worldwide on chronic diseases and increasing generic drug market has propelled the demand for pharmaceutical water.
Social: Growing public awareness about drug authenticity and safety has compelled pharmaceutical companies to invest heavily in water purification which enhances trust in pharmaceutical products.
Technological: Advancements in membrane separation technologies like reverse osmosis, ion exchange and ultrasonic filtration have enabled higher throughput and cost-efficiency in water treatment boosting adoption.
Key Takeaways
The Global Pharmaceutical Water Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing stringency of regulatory norms governing pharmaceutical water quality. The market size for 2023 is estimated to be US$ 6.26 Bn.
Regional analysis: North America dominates the market and is expected to grow at a CAGR of around 8% during forecast period led by growing generics market in the US. Europe and Asia Pacific also offer lucrative opportunities owing to increasing pharmaceutical manufacturing activities in the regions.
Key players: Key players operating in the pharmaceutical water market are Sartorius, Merck KGaA, Thermo Fisher Scientific Inc., GENERAL ELECTRIC, Danaher Corporation, SUEZ Water Technologies & Solutions, Veolia Water Solutions and Technologies, Evoqua Water Technologies LLC, Aqua Solutions, Inc., Baxter International Inc. Sartorius, Thermo Fisher and Merck hold prominent shares in the pharmaceutical water treatment equipment segment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
