Pharmaceutical Water Market Report 2024

This Pharmaceutical Water market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The pharmaceutical water market size has grown rapidly in recent years. It will grow from $34.09 billion in 2023 to $37.61 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth during the historic period can be attributed to several factors such as the increasing demand for high-quality water, the rise in biologics and biosimilar production, expansion in pharmaceutical manufacturing, the development of new drugs focused on biologics, and the overall growth of the biopharmaceutical sector.

The pharmaceutical water market size is expected to see rapid growth in the next few years. It will grow to $56.31 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth during the forecast period can be attributed to several factors such as a heightened focus on quality and regulatory compliance, growing demand for outsourced pharmaceutical manufacturing, expansion in generic drug production, increased emphasis on routine checkups and diagnostics, and the rising prevalence of diabetes among obese and elderly populations. Key trends expected to shape the forecast period include product innovation, integration with single-use technologies, greater adoption of remote system monitoring, advancements in pharmaceutical-grade water purification systems, and the implementation of multi-parameter water quality testing.

The growing demand from the biotechnology industry is expected to drive the expansion of the pharmaceutical water market in the coming years. Biotechnology involves using biological processes, organisms, or systems to develop products and technologies that benefit society. The need for pharmaceutical water in this field is fueled by innovations in genetic engineering, advancements in research techniques, and the rise of biopharmaceuticals. Pharmaceutical water is essential in biotechnology, providing the necessary purity and quality for research, development, and production processes, ensuring that biotech products are safe, effective, and meet regulatory standards. For example, in 2022, the Australian Government Department of Health reported that the Australian biotechnology sector generated over $8 billion in annual revenue in 2021, with an expected annual growth rate of 3% from 2021 to 2026. As a result, the increasing demand from the biotechnology industry is driving the growth of the pharmaceutical water market.

Key companies in the pharmaceutical water market are focusing on developing innovative products, such as Water for Injection (WFI), to enhance the efficiency and quality of water purification processes. WFI is a type of pharmaceutical water that meets the highest purity standards and is specifically intended for producing injectable medications. For instance, in June 2024, Asahi Kasei Corporation, a Japan-based chemicals company, introduced a new membrane system designed for WFI production. This system, which uses a Microza hollow-fiber membrane, provides a more energy-efficient and environmentally friendly alternative to traditional distillation methods. It simplifies the production process by eliminating the need for cooling and condensing steam, thus making it more efficient and user-friendly.

In May 2023, Xylem Inc., a US-based water technology company, acquired Evoqua Water Technologies Corp. for an undisclosed amount. This acquisition is expected to bolster Xylem’s position in the water technology market, broaden its product range, and drive innovation in water management solutions. Evoqua Water Technologies Corp., also a US-based company, specializes in advanced water treatment solutions tailored for the pharmaceutical industry.

Major companies operating in the pharmaceutical water market are Merck & Co. Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Ecolab Inc., Baxter International Inc., B. Braun Melsungen AG, Xylem Inc., Sartorius AG, Pentair PLC, Waters Corporation, Pall Corporation, Veolia Water Solutions And Technologies, Hikma Pharmaceuticals PLC, Hach Company, BWT AG, Evoqua Water Technologies, Kinetico Incorporated, Nexus Pharmaceuticals, Intermountain Life Sciences, Aqua-Chem Inc., FujiFilm Irvine Scientific Inc., Medi-Pure Incorporated, Lenntech B.V.

North America was the largest region in the pharmaceutical water market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market going forward. The regions covered in the pharmaceutical water market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the pharmaceutical water market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Pharmaceutical water refers to water that adheres to strict quality standards and is utilized in the production, processing, and formulation of pharmaceutical products and medical applications. This type of water is employed at various stages of pharmaceutical manufacturing, including drug preparation, equipment cleaning, and ingredient formulation.

The primary types of pharmaceutical water include highly purified water, water for injection, water for inhalation, deionized water, distilled water, and others. Highly purified water is characterized by its compliance with standards for microbial and chemical purity, making it essential when water of high microbiological quality is required. These types of water are used in a range of applications, such as drug formulation, cleaning and purification, cell culture production, equipment cleaning, buffers and solutions, among others. They are also utilized by various end-users, including pharmaceutical and biotechnology companies, contract research and manufacturing organizations, academic and research laboratories, hospitals and healthcare facilities, diagnostic laboratories, and others.

The pharmaceutical water market research report is one of a series of new reports that provides pharmaceutical watermarked statistics, including pharmaceutical water industry global market size, regional shares, competitors with a pharmaceutical water market share, detailed pharmaceutical water market segments, market trends, and opportunities, and any further data you may need to thrive in the pharmaceutical water industry. This pharmaceutical water market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The pharmaceutical water market consist of revenues earned by entities by providing repair and consulting services, installation and setup of water purification systems, and maintenance and servicing of water systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The pharmaceutical water market also includes sales of spare equipment, reverse osmosis units, distillation systems, and deionization systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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