by 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 Overview:
The pharmaceutical water market involves manufacturing and distribution of ultrapure water solutions for various applications in pharmaceutical manufacturing such as injections, parenterals and cleaning of equipment. Highly purified water is crucial in pharmaceutical manufacturing as even minute contaminations can affect drug safety, efficacy and shelf life. Various types of water purification technologies such as reverse osmosis, ion exchange, UV oxidation and point-of-use filtration units are employed to produce water that meets compendial standards set by regulatory authorities.
Market key trends:
One of the major trends in the pharmaceutical water market is the growing adoption of pharmaceutical water purification technologies in developing countries. Along with high expenditure on healthcare infrastructure in these regions, stringent regulations surrounding water quality standards in pharmaceutical production is driving the uptake of advanced water treatment systems. Rapid growth of the pharmaceutical industry in Brazil, India, China and other Asian countries will continue to generate lucrative opportunities for players offering purified water solutions over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the pharmaceutical water market due to high capital investment required to enter the market. Established key players dominate the market making it difficult for new players to establish.
Bargaining power of buyers: The bargaining power of buyers is moderate given the availability of alternative products. However, stringent regulatory standards ensure less bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many raw material suppliers. This leaves buyers in advantageous position during negotiations.
Threat of new substitutes: There exists a low threat of substitution as water treatment is mandated for quality pharmaceutical production and has no close substitutes.
Competitive rivalry: The market witnesses high competition among the key established players to gain maximum market share.
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 stringent regulations regarding use of treated water in production and quality check processes.
Regional analysis
North America is expected to dominate the market due to stringent regulations and rising pharmaceutical production in the region. Asia Pacific is expected to witness the fastest growth owing to increasing pharmaceutical production, rising R&D investment, and improving healthcare infrastructure in the region.
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 and Merck KGaA dominate the market.
*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, chemicals and materials, defense and aerospace, consumer goods, etc.
