Number of pages: 100 | Report Format: PDF | Published date: March 17, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global pharmaceutical water market was valued at US$ 28.9 billion in 2022 and is expected to register a revenue CAGR of 9.4% to reach US$ 65 billion by 2031.
Pharmaceutical Water Market Fundamentals
One of the main components utilized by the pharmaceutical sector is water. It may be used to reconstitute products, during synthesis, and production of the completed product, as a cleaning agent for rinsing vessels, equipment, primary packing materials, etc., or it may be used as an excipient. It is frequently employed as a raw material, ingredient, and solvent in the processing, formulating, and producing pharmaceutical products, active pharmaceutical ingredients, intermediates, and analytical reagents. When reconstituting items during synthesis or manufacturing finished goods, it may be present as an excipient or employed as a cleaning agent for rinsing containers, equipment, and primary packing materials.
Water in a variety of grades is utilized in the pharmaceutical industry. These waters can be categorized into two main categories: packaged waters, which are produced, packed, and sterilized to maintain microbiological purity throughout their packaged shelf life, and bulk waters, which are often produced on-site where they are utilized. There are various specialized varieties of bottled water, each with a different intended use, packaging restrictions, and other quality characteristics. Different water quality levels are needed depending on the various pharmaceutical uses. Most factors affect the sources of contaminated water in a pharmaceutical business. Water entering a water system may get contaminated due to flaws in the piping. Topical medication products that use contaminated water are the industry’s main source of microbial contamination. The reverse osmosis and deionized water systems should be closely monitored due to the health dangers of using polluted water. Seasonal changes can cause alterations in the microbiological content of the intake water, necessitating at least weekly monitoring of a water system.
Pharmaceutical Water Market Dynamics
The demand for biopharmaceuticals has increased significantly in the development of life-saving treatments, such as vaccines, proteins, antibodies, plasma, enzymes, biologics, and peptides. For the past few years, the biopharmaceutical industry has experienced remarkable growth. Large unmet medical needs in treating chronic medical conditions, the patent expiration of branded biologic drugs that led to the development of biosimilar drugs, and several clinical pipeline drugs have contributed to the growth of the biopharmaceutical industry. Also, the rapid growth of the vaccines industry is estimated to propel the biopharmaceutical business in the next few years. The main emphasis of market participants in the generic injectable segment is the development of generic injectable pharmaceuticals, particularly generic biologic products or biosimilars. The U.S. FDA has approved 28 biosimilar medications to treat chronic medical diseases. Throughout the projected period, it is anticipated that major companies will increase their attention on developing and expanding manufacturing facilities suitable for generic formulations, increasing the production of specialty generic injectable pharmaceuticals.
Generic formulations are created more quickly than branded counterparts, as there is no need to conduct toxicity tests or clinical trials for them. The usage of generic products is increasing as many players enter the global market for generic injectables with affordable alternatives to branded medicines. The biopharmaceutical and generic injectable sectors depend heavily on the pharmaceutical water market. Thus, during the forecast period, pharmaceutical water demand is anticipated to rise along with the development of the biopharmaceutical and generic injectable sectors. A significant factor predicted to drive the global pharmaceutical water market during the projected period is the rapid rise in the incidence of infectious diseases worldwide.
Before selling or offering clients services, many goods and enterprises must undergo appropriate microbiological testing. It covers items, such as pharmaceuticals, pesticides, skincare items, and even the majority of meals. Before they can be sold legally, each must undergo certain testing, the nature of which varies depending on the product use and the place where it will be conducted. To give the most pertinent and acceptable testing procedures to assure public safety, the organizations that oversee the correct standards for this kind of testing rely on years of scientific and medical experience. These techniques are updated as new advancements in microbiology occur throughout time, enabling an effective response to emerging threats.
However, the major factors that inhibit the global pharmaceutical water market revenue growth are the high cost of the water sterility process with high possibilities of several viral and bacterial contaminations and lack of aseptic handling.
Pharmaceutical Water Market Ecosystem
The global pharmaceutical water market is analyzed from three perspectives: type, end-user, and region.
Pharmaceutical Water Market by Type
Based on the type, the global pharmaceutical water market is segmented into HPLC grade water, water for injection, water for inhalation, water for irrigation, non-potable water, and potable water.
The HPLC grade water segment accounted for the largest global pharmaceutical water market revenue share in 2022. HPLC grade water is ultrapure water with low UV absorption, specific conductivity (16–18 mega ohms), and low UV absorption. To prevent contamination, they are frequently filtered through a 0.22-micron filter and stored in solvent-rinsed containers with an inert environment. Laboratories use trusted and well-established HPLC technology to separate, recognize, and quantify components in a mixture. In testing the pre-sale procedure, the marketing of drugs, and their control in the last ten years, high-performance liquid chromatography (HPLC) is the most important facility used in the pharmaceutical industry. The HPLC examination of pharmaceuticals aims to verify a drug’s authenticity, provide quantitative data, and track how well an illness is being treated. Water is a universal solvent that can dissolve almost everything. However, due to contamination, regular tap water cannot be utilized for scientific applications. In addition to dissolved atmospheric gases, natural minerals, organic compounds, dissolved solids, and suspensions, water can include bacteria or other microbes if the right environmental factors and nutrient levels are present. Different levels of treatment are needed for various applications when using water in laboratories. Reputable chemical and reagent providers offer water for HPLC in bottles. However, installing commercially available dispensing devices to meet the water needs for other sophisticated analytical techniques besides HPLC is prudent and economically sensible in the long term.
In pharmaceutical manufacturing, water for injection is distilled, sterile, and non-pyrogenic for parenteral use. A solvent creates parenteral and other preparations where product endotoxin concentration must be regulated. It is additive-free and passes all of the filtered water testing criteria. Water for injection is crucial for producing parenteral products or formulations. Therefore, this segment’s increased research and development activities for the new pharmaceutical formulation are supporting the market revenue growth.
Pharmaceutical Water Market by End-user
Based on the end-user, the global pharmaceutical water market is segmented into pharmaceutical & biotechnology companies, academic & research laboratories, and others.
The pharmaceutical & biotechnology companies segment accounted for the largest revenue share of the global pharmaceutical water market in 2022. Pharmaceutical water is the most needed commodity in the pharmaceutical industry. Sterile pharmaceutical water is an essential component of public safety because water is a resource that everyone needs and is frequently utilized as an ingredient in other products. Pharmaceutical firms are prone to many of the worst contamination issues and frequently want just as many testing processes to be performed on their products. Aiming to cure, immunize, or treat patients’ symptoms, the pharmaceutical industry finds, develops, manufactures, and promotes medicines or pharmaceutical drugs for usage as medications provided to patients (or self-administered). Pharmaceutical firms may sell brand-name and generic drugs and medical equipment. They must abide by several laws and rules that control medicines’ marketing, testing, safety, efficacy, and patenting. Furthermore, the biopharmaceutical sector is expected to be forced by the vaccine industry’s rapid development in the upcoming years.
Pharmaceutical Water Market by Region
Based on the region, the global pharmaceutical water market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global pharmaceutical water market in 2022. Despite the influence of several developing nations, the United States has dominated the global pharmaceutical business. Some of the largest pharmaceutical companies in the world are based in this country. The statistic displays the gross output of American pharmaceutical preparation manufacturing from 1998 to 2016. The gross output in this industry in 1998 was around US$ 80 billion. The output rose until 2016 to around US$ 218 billion. Thus, the presence of industry giants and newly launched advanced products, a well-developed healthcare infrastructure, and payment coverage drive the high demand for sophisticated healthcare services in the region.
Asia Pacific accounts for the second largest revenue share of the global pharmaceutical water market due to pharmaceutical industry development. Most market opportunities for medicines are in emerging nations, with China exerting the most influence. China is anticipated to have the fastest growth rate in terms of investment in the pharmaceuticals water industry. In 2018, investments that were US$ 68.3 million in 2014 reached US$ 130.7 million. The anticipation that China’s population would continue to grow and flourish drives the country’s development level. This expectation will increase spending on more advanced pharmaceutical and healthcare products. The ideas put forth by worldwide pharmaceutical companies manufacturing in the area offer opportunities for businesses involved with water. In India, investments in medicinal water will also see impressive growth in the coming years.
Pharmaceutical Water Market Competitive Landscape
The global market for pharmaceutical water is moderately competitive due to new product introductions, mergers, and acquisitions. Several organizations prioritize introducing novel therapies, obtaining regulatory approval for those products, and participating in supplemental measures such as public awareness campaigns. Furthermore, the industry classified joint ventures, acquisitions, and other forms of collaboration as superior growth strategies. As a result of these initiatives and the rising demand for pharmaceutical water on the global market, the potential for future profitable growth has increased.
The notable market participants include:
Pharmaceutical-grade/pharmaceutical water is commonly used in several biotech and pharmaceutical applications, where high sterility is required, and endotoxin content should be controlled.
The increased pharmaceutical industry and the need to prevent contamination are the major driving factors behind the significant revenue growth of the global pharmaceutical water market.
The high cost and lack of handling expertise hinder the revenue growth of the global pharmaceutical water market.
Key companies operating the global pharmaceutical water market are Merck KGaA, B. Braun Melsungen AG, Baxter International, Inc., Thermo Fisher Scientific, Inc., and Cytiva (Danahar).
The global pharmaceutical water market is expected to grow at a revenue CAGR of 9.4% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain