With population boom, the demand for everything, be it food, water, clothes, housing, or medicines, will rise too. Plus, with the prevalence of chronic diseases surging, prescription as well as over-the-counter (OTC) drugs are needed more than ever. This is leading to huge investments in the pharmaceutical industry, wherein new production plants as well as research laboratories are being set up. At both these places, filtration is one of the most important processes, as the drugs being produced or researched upon must be completely contamination-free.
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On similar lines, several developing countries are rapidly increasing their pharma production, for which a high requirement for filters is being created. For instance, the Indian pharmaceutical industry, which valued $33 billion in 2017, would reach $55 billion by 2020, according to the India Brand Equity Foundation (IBEF). Several multinational companies, such as McKinsey and PwC have iterated that India’s phara sector would be the fastest growing around the world in the coming years. It is not just because of domestic companies coming up, but also the shifting of the drug manufacturing plants of overseas firms.
Thus, with pharmaceutical production picking up in developing countries, the demand for filters and related accessories would also increase.
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