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North America Pharmaceutical Filtration Market Forecast 2019-2028

The North America pharmaceutical filtration market is estimated to record a CAGR of 7.62% over the forecast period, 2019-2028. The robust pharmaceutical manufacturing base in the region owing to supportive government regulations and high R&D spending, and the presence of pioneering companies are contributing to the market growth in the region.

The North America pharmaceutical filtration market growth researched by segmenting the region into the United States and Canada. In Canada, companies engaged in pharmaceutical manufacturing are categorized into three types namely associates of foreign multinationals producing brand-name drugs, manufacture of drugs by generic companies that are ineligible for patents, patent-expired drugs and patented drugs for which compulsory licenses have been obtained, and small biotechnology companies that emphasize on primary research and development and have few products in the market. In Canada, an R&D association founded in 1914 represents more than 50 brand-name companies, mainly subsidiaries of foreign multinational companies. Furthermore, pharmaceutical sales have a 2% share of the global market, making Canada the 10th largest world market. Since 2012, compound annual growth has remained favorable at 4.5%. Brand-name products account for 79.3% of sales and 30% of prescriptions, while generics attribute for the rest. The developing Canada pharmaceutical industry is expected to grow considerably during the forecast year.

Some of the preeminent companies functioning in the region are Parker-Hannifin Corporation, 3M Company, Meissner Filtration Products, Inc, GE Healthcare, Merck & Co., Inc, etc.

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North America Pharmaceutical Filtration Market Forecast 2019-2028
Published By :Inkwood Research
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