Pharmaceutical Water Market: Introduction
According to the report, the global pharmaceutical water market was valued at US$ 24.3 Bn in 2019 and is projected to expand at a CAGR of ~10% from 2024 to 2030. HPLC grade water is essential for preparing mobile phases and samples. Water used in the HPLC process should be purified through a combination of distillation, reverse osmosis, ultraviolet irradiation, filtering, ion exchange, and other methods. Water for HPLC should comply with the highest purity specified under type 1 by the American Society for Testing and Materials (ASTM). This water requires mixed bed deionization and filtration with 0.2μ membrane filters.
Water for injection, or sterile water for injection, is a non-pyrogenic, sterile, solute-free preparation. It is utilized as sterile solvent or diluent vehicle for solutions or drugs suitable for parenteral administration. It is also used in cell culture as a solvent in the preparation of cell culture media, buffers, laboratory reagents, reconstitution of biochemical reagents, and final rinse water for critical applications and bioprocess liquids.
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In terms of end user, the global pharmaceutical water market has been classified into pharmaceutical & biotechnology companies, academics & research laboratories, and others. The pharmaceutical & biotechnology companies segment held a significant share of the global pharmaceutical water market in 2019.
Pharmaceutical Water Market: Prominent Regions
North America held major share of the global pharmaceutical water market in 2019. Presence of key players and growth strategies adopted by these players are the major factors driving the pharmaceutical water market in the region. Rise in awareness about the benefits of prevention of diseases and increase in healthcare expenditure also augment the pharmaceutical water market in North America. Asia Pacific was the second largest market for pharmaceutical water in 2019.
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The growth of the pharmaceutical water market in Asia Pacific can be attributed to rise in infectious diseases and a well-developed healthcare sector. The pharmaceutical water market in Asia Pacific is likely to grow at a rapid pace during the forecast period. Development of pharmaceutical water and other pharma products to cope with diseases and rise in awareness leading to routine checkup and diagnosis are the major factors anticipated to drive the pharmaceutical water market in Asia Pacific.
Pharmaceutical Water Market: Key Players
Key players are expanding their footprint to consolidate their positions in the global pharmaceutical water market. Greater emphasis on prevention and wellness by healthcare professionals and owners presents lucrative opportunities to key players to increase their share in the global pharmaceutical water market. Hence, manufacturers engage in new product development, collaborations, and distribution to gain market share.
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Leading players operating in the global pharmaceutical water market include Merck KGaA, B. Braun Melsungen AG, Baxter International, Inc., Thermo Fisher Scientific, Inc., Cytiva (Danaher), Intermountain Life Sciences, Standard Reagents, Pvt. Ltd., CovaChem, LLC., FUJIFILM Irvine Scientific, Fresenius Kabi AG, and Pfizer, Inc.
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