by The global pharmaceutical water market is experiencing significant growth due to the growing biopharmaceutical industry around the world. Water plays a vital role in the pharmaceutical industry as it is used in various stages of drug manufacturing including cleaning, rinsing, and product formulation. Purified water helps maintain safety, quality, and integrity of pharmaceutical products. Different types of water such as purified water, water for injection, high purity water and ultrapure water are utilized for specific applications like API synthesis, formulation development, washings, and sterile production.
The global 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 Dynamics:
The increasing biopharmaceutical industry is expected to drive the growth of the pharmaceutical water market during the forecast period. The biopharmaceutical sector is growing rapidly due to rising adoption of biologic drugs for treating chronic diseases like cancer. Biologic drugs are complex molecules produced in living systems, which requires high purity water for their manufacturing, handling, and processing. This is augmenting the demand for pharmaceutical grade water.
Another driver for the market growth is the expansion of pharmaceutical production facilities globally. Pharmaceutical companies are increasingly investing in capacity expansion and construction of new production plants especially in emerging economies of Asia Pacific and Latin America in order to strengthen their market presence. This is generating huge demand for industrial water treatment systems and services in the pharmaceutical industry.
Segment Analysis
The global pharmaceutical water market is segmented based on product type, purity levels, equipment, and end-user. The equipment segment dominates the market since pharmaceutical water purification equipment such as water purification systems, purification accessories and validation accessories help remove dissolved impurities from raw water to produce ultrapure water that conforms to stringent quality standards.
PEST Analysis
Political: Stringent regulations pertaining to the quality of water used in pharmaceutical processes is driving growth. For instance, directives by the US FDA ensure use of highly purified water.
Economic: Growing pharmaceutical industry globally along with increasing R&D spending is fueling demand. Low purity water adversely impacts drug quality thus necessitating large investments.
Social: Increased awareness about healthcare and focus on ensuring safety of drugs is positively impacting adoption.
Technological: Advancements in water purification technologies such as ion exchange, deionization and UV oxidation enable production of high purity levels that meet requirements.
Key Takeaways
The Global Pharmaceutical Water Market Size was valued at US$ 6.26 Bn in 2023 and is expected to reach US$ 10.8 Bn by 2030, expanding at a CAGR of 7.9%. North America dominates due to presence of major pharmaceutical companies and stringent regulatory norms.
Regional analysis
North America accounts for the largest share owing to a well-established pharmaceutical industry and stringent regulations. Asia Pacific is expected to witness fastest growth led by favorable FDI policies, cheaper manufacturing & low costs in countries like India and China.
Key players
Key players operating in the pharmaceutical water market are Sartorius, Merck KGaA, Thermo Fisher Scientific Inc., GENERAL ELECTRIC, Danaher Corporation. Sartorius offers purification equipment to produce ultrapure water that adheres to stringent pharmacopoeia standards. Merck KGaA provides laboratory water systems and validation services.
*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.
