Transparency Market Research (TMR) has conducted a market analysis on pharmaceutical water, and their experts predict the pharmaceutical water market to expand at a compound annual growth rate (CAGR) of about 10 percent between 2030. In terms of revenue, the global pharmaceutical water market was at $24.3 billion in 2019 and is extrapolated to surpass $71.9 billion by 2030.
Pharmaceutical water is being used across the biotechnology sector on a massive scale. The rising use of this water type across specialty enzymes, white biotechnology applications, and diagnostics will invite promising growth for the pharmaceutical water market. In addition, new product developments, distribution, and collaborations will prove to be game-changers for the pharmaceutical water market. The market insights on pharmaceutical water also emphasize the role of mergers and acquisitions in building the growth trajectory.
The players in the pharmaceutical water market are concentrating on strengthening the technological aspect to provide good quality to their consumers. The investments across the pharmaceutical water market are gaining considerable traction and hence, this factor will add extra stars of growth. The players are utilizing varied filtration processes for red biotechnology and plasma fractionation. Such developments will have a positive effect on the growth of the pharmaceutical water market.
The growing prevalence of diabetics among a considerable chunk of the populace will bring immense growth prospects for the pharmaceutical water market. According to the World Health Organization (WHO), 422 million people have diabetes. These alarming statistics raise the concerns about the need for eliminating diabetes. Pharmaceutical water is essential to produce injectable drugs used in treating diabetic patients. Hence, the rising number of diabetic patients is directly proportional to the growth of the pharmaceutical water market.
The government bodies of numerous countries are focusing on developing a good healthcare infrastructure through various initiatives and funding. These factors will have a positive impact on the growth of the pharmaceutical water market.
The heightening awareness about the importance of disease prevention will also bring a tectonic shift in the growth projections of the pharmaceutical water market.
The development of generic formulations at an accelerated pace will bring tremendous growth opportunities for the pharmaceutical water market during the tenure of 2020-2030.
Large unmet treatment needs across the chronic medical condition landscape will prove to be a boon for the growth of the pharmaceutical water market.
