Hollow Fiber Filtration Market Size Poised To Reach USD 1.76 Billion By 2030

 San Francisco, 11 July 2023: The Report Hollow Fiber Filtration Market Size, Share & Trends Analysis Report By Membrane Material (Polysulfone), By Process (Single-use Hollow Fiber Membranes), By Technology, By Application, By End-users, By Region, And Segment Forecasts, 2023 - 2030

The global hollow fiber filtration market size is expected to reach USD 1.76 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 14.3% from 2023 to 2030. The rising demand for bioprocessing products, the availability of skilled professionals, and expanding growth opportunities in the biopharma sector are among the key factors expected to propel market revenue growth during the forecast period.

The rising prevalence of infectious diseases, combined with lower bio-manufacturing costs, has rekindled interest in the creation of single-use hollow fiber technologies that can be readily adaptable to continuous processing and to provide treatment for diseases such as cancer and the common flu. For instance, cancer.org estimates that there are 609,360 cancer deaths and 1.9 million new cases of cancer in the U.S. in 2022.

Furthermore, hollow fiber (HF) systems are used in the efficacy testing of a drug, and the absorptive membrane on the fiber wall is utilized to control the release of a drug. Moreover, hollow fibers also create effective drug carriers due to their high ratio of surface area to volume and loading flexibility. This is expected to fuel the growth of the hollow fiber filter market.

Hollow fiber filtration (HFF) is also used to treat domestic wastewater. This is expected to drive the hollow fiber filtration industry forward. By concentrating microorganisms inside individual hollow fibers, hollow fiber ultrafiltration is employed to test source water for naturally occurring protozoa and to purify drinking water. HFF works similarly to capillary and tubular filtration systems, but with a smaller tube size for greater flexibility. For instance, in April 2021, Researchers at the Indian Institute of Technology Guwahati developed a microfiltration method to remove microplastics from seawater, preventing the incorporation of plastic residues in edible salt retrieved from it.

The need for HFF to prevent a wide range of infections has increased as a result of the COVID-19 pandemic. The development of hollow fiber applications enabled the expansion of new approaches for the prevention and detection of the COVID-19 virus & other viral infections. For instance, as per the published article, in January 2022, due to its enclosed space air remediation to grab the aerosolized synthetic SARS-CoV-2 & pseudovirus particles, the HF membrane effectively removes synthetic COVID-19 virus from the air. Additionally, due to an increase in activities for R&D for HF membrane across the globe, driving the market growth.

Furthermore, there has been a distinguishable trend toward association in recent years, with players trying to form strategic associations to assist market growth. For instance, in June 2021, Repligen Corporation announced the acquisition of Polymem S.A. ("Polymem"), one of the largest manufacturing firms in the development and production of hollow fiber membranes & modules based in Toulouse, France. 

Access Research Report of Hollow Fiber Filtration Market @ https://www.grandviewresearch.com/industry-analysis/hollow-fiber-filtration-market-report

Hollow Fiber Filtration Market Report Highlights

• By membrane material, the polyethersulfone (PES) segment accounted for the largest share in 2022. Growing filtration needs in the sanitary and food & beverage industries are expected to drive up demand for membranes, which will drive up usage of Polyethersulfone during the forecast period.
• By process, the reusable hollow fiber membranes segment held a larger share in 2022. The rapid set-up, easy scalability, and extensive use will promote the sector's growth.
• By technology, the microfiltration segment held a larger share in 2022. Membrane microfiltration technology is becoming increasingly popular in applications such as pharmaceuticals, dairy products, food & beverage, and wastewater treatment.
• By end-user, pharmaceutical & biotechnology companies, held a larger share in 2022. Technological advancements in the pharmaceutical and biotechnology sectors, as well as the rapid growth of the biopharmaceutical sector globally, are expected to contribute to this segment's revenue growth over the forecast period.
• North America held the largest share in 2022. This is mostly attributed to the occurrence of significant market participants, as well as rising R&D spending and federal assistance.
• Asia Pacific is expected to grow at the highest rate in a projected time period. Driven by factors such as the rising prevalence of target diseases with an aging population, rising hollow fiber filtration technique adoption, and others.

Hollow Fiber Filtration Market Report Scope 

Report Attribute	Details
Market size value in 2023	USD 689.4 million
Revenue forecast in 2030	USD 1.76 billion
Growth rate	CAGR of 14.3% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 – 2030

List of Key Players of Hollow Fiber Filtration Market

• Sartorius AG
• Repligen Corporation
• Danaher Corporation
• Merck KGaA
• Asahi Kasei Corporation
• PARKER HANNIFIN CORP.
• Cole Parmer
• Sterlitech Corporation
• Synder Filtration, Inc.
• Meissner Filtration Products, Inc.

Access Press Release of Hollow Fiber Filtration Market @ https://www.grandviewresearch.com/press-release/global-hollow-fiber-filtration-market