April 12, 2024
Pharmaceutical Water Market

Pharmaceutical Water Market Offers Lucrative Growth Opportunities Due to Rising Adoption of Water Purification Technologies

The global pharmaceutical water market has been gaining significant traction over the past couple of years owing to the stringent regulatory guidelines mandating the use of purified water across various pharmaceutical applications. Pharmaceutical water finds wide applications in the formulation of drugs and medicines, cleaning of equipment and machinery, sterile formulations, and other utilities across the pharmaceutical industry. It helps maintain sterility and prevents contamination during drug manufacturing processes. Purified water plays a pivotal role in eliminating microbes, toxins, inorganic particles and other impurities, thereby minimizing the risks of microbial growth and related safety issues.

The Global Pharmaceutical Water Market is estimated to be valued at US$ 7.22 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.

Pharmaceutical water purification equipment offer high-performance purification through technologies such as RO, UF, NF, and ion exchange. Moreover, pharmaceutical-grade water has gained prominence owing to its ability to meet stringent quality standards set by regulatory bodies like the FDA and EMA. Several pharmaceutical companies are increasingly outsourcing water treatment services to specialized players in order to ensure a safe, regulated and sustainable supply of high-purity water.

Key Takeaways

– Key players operating in the pharmaceutical water market are Heidelberg Printing Machinery AG, Komori Corporation, Koenig & Bauer AG, Manroland Goss web systems, HP Inc., Xerox Corporation, Canon Inc., Ricoh Company, Ltd., Epson, and Konica Minolta, Inc.

– Growing awareness about waterborne diseases and stringent quality norms offer several growth opportunities in technologies like ion exchange, reverse osmosis, and ultrafiltration for pharmaceutical water purification. Countries like India and China serve as lucrative markets due to increasing generic drug manufacturing.

– North America dominates the global market followed by Europe. However, Asia Pacific is expected to witness highest growth on account rapid expansion of pharmaceutical industries in the region. Growing investments by market players to establish production facilities in emerging Asian countries will further drive the global pharmaceutical water market.

Market drivers:

The key driver boosting the growth of the Pharmaceutical Water Market Size is the rising adoption of water purification technologies for meeting stringent regulations. Regulatory focus on ensuring safety and efficacy of drugs throughout their manufacturing lifecycle has compelled pharmaceutical companies to take recourse to advanced water treatment systems. Technologies like reverse osmosis, ultrafiltration and ion exchange purify water by removing various organic and inorganic contaminants thereby helping manufacturers adhere to quality mandates set by regulatory bodies worldwide. This in turn spurs the demand for pharmaceutical water across major drug producing companies globally.

PEST Analysis

Political: Regulations regarding quality standards and testing are becoming more stringent. Export policies also impact the trade of products between regions.

Economic: Growth in the pharmaceutical industry positively impacts demand. Higher disposable incomes in emerging markets boost spending on healthcare and medicines.

Social: Aging population needs more medicines. Rising health awareness increases demand for purified water in pharmaceutical production.

Technological: Automation enhances production efficiency. Advanced water purification technologies like reverse osmosis and nanotechnology filter out more impurities.

The geographical regions where the pharmaceutical water market is concentrated in terms of value are North America and Europe. Stringent quality norms generate high demand. Developed healthcare infrastructure and high per capita healthcare spending support market growth.

The fastest growing region for the pharmaceutical water market is Asia Pacific. Expanding pharmaceutical industry, rising medical expenditure, and growing health awareness are key factors driving the market. China and India have a large production base and patient population, augmenting regional growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it