by Pharmaceutical water serves as an essential component in many pharmaceutical products. It is used as a manufacturing liquid and dissolving agent during the production of active pharmaceutical ingredients, tablets, capsules, and other dosage forms. Pharmaceutical water helps maintain the purity and consistency of drugs, while also preventing microbial growth that could contaminate products. It must meet stringent quality standards established by regulatory bodies like the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) to ensure the safety of medicines. The growing requirement to comply with tightening regulations regarding the use of purified water in pharmaceutical manufacturing is driving significant demand in the market.
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 key trends:
One of the key trends in the pharmaceutical water market is the shift toward alternative purification technologies like ultrafiltration and ion exchange from the commonly used processes of reverse osmosis and distillation. Technologies such as ultrapure water systems that integrate ultrafiltration and ion exchange are gaining traction as they offer lower capital and operating costs compared to reverse osmosis systems. Additionally, companies are actively investing in research and development of sustainable and green water treatment technologies like membrane bioreactors and advanced oxidation systems to meet the stringent quality requirements set by regulatory bodies in an environmentally-responsible manner. Wide application of pharmaceutical water across various areas like active pharmaceutical ingredient manufacturing, tablet coating, capsule filling, and cleaning is also expected to drive the demand over the forecast period.
Porter’s Analysis
Threat of new entrants: The pharmaceutical water market require high capital investments for R&D and comply with stringent quality and regulatory standards which create significant entry barriers for new players.
Bargaining power of buyers: There are large buyers like major pharmaceutical companies, which gives them higher bargaining power to negotiate on prices.
Bargaining power of suppliers: The market has numerous global and regional suppliers for systems, equipment, and services. This reduces supplier power over buyers.
Threat of new substitutes: There are limited substitutes for water in pharmaceutical and biotechnology applications due to strict purity and quality regulations for drugs and medical devices.
Competitive rivalry: The market has major global players competing based on product innovation, quality, and services. This intense competition drives down profit margins.
Key Takeaways
The Global Pharmaceutical Water Market Size is expected to witness high growth. The growing pharmaceutical industry, rising demand for pure and clean water, and stringent regulatory standards are driving the market. Regionally, North America dominates the market currently due to high pharmaceutical R&D spending and presence of major players. The Asia Pacific region is expected to grow at the fastest pace owing to increasing generics production and growing biopharmaceutical industry in countries like China, India, and South Korea.
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. The major players are focusing on new product launches, expansions, and mergers & acquisitions to strengthen their market position and capitalize on high growth opportunities. For instance, in 2021, SUEZ opened a new water treatment facility in Dublin to meet the increasing demand from pharmaceutical and biotechnology customers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
