According to Nova one advisor, the global pharmaceutical water market size was estimated at USD 39.85 billion in 2023 and is projected to reach USD 96.97 billion by 2033, registering a CAGR of 9.3% from 2024 to 2034. The rising technological advancements in pharmaceutical water contributed to propel the pharmaceutical water market.
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The pharmaceutical water market deals with the market for highly purified water utilized in the pharmaceutical industry for purification, sterilization, and cleaning of equipment, drug formulation, and other processes. As per pharmacopeia monographs, pharmaceutical water must address strict quality standards in order to be suitable for use in pharmaceutical manufacturing and processing. High-purity water is crucial for drug efficacy, quality, and safety.
The increasing stringent regulatory requirements for pharmaceutical water, rising demand for biologics and generics, and increasing growth in pharmaceutical manufacturing are expected to drive the growth of the market during the forecast period. The market is segmented by region, product, application, and type. Major players in the market offer a range of services, systems, and technologies to pharmaceutical companies to help ensure access to high-quality and reliable water.
Pharmaceutical Water Market Key Takeaways
• North America led the global market with the highest market share of 35.19% in 2023.
• Asia-Pacific is estimated to expand at the fastest CAGR of 10.3% from 2024 to 2033.
• By Type, the HPLC grade water segment has held the biggest revenue share of 20.92% in 2023.
• By Type, the water for injection segment is anticipated to expand at the fastest CAGR of 10.2% during the projected period.
• By Application, the pharmaceutical & biotechnology companies segment held the highest market share of 58.14% in 2023 and it is projected to expand at the fastest CAGR of 10.3% over the projected period.
• The U.S. pharmaceutical water market size was valued at USD 7.19 billion in 2023 and is predicted to hit USD 18.31 billion by 2033 with a CAGR of 9.8% from 2024 to 2033.
• Canada pharmaceutical water market was valued at USD 4.49 billion in 2023 and it is growing at a CAGR of 9.3% from 2024 to 2033.
• Germany pharmaceutical water market size was estimated at USD 3.67 billion in 2023 and it is growing at a CAGR of 10.1% from 2024 to 2033.
• China pharmaceutical water market size was reached at USD 3.55 billion in 2023 and it is growing at a CAGR of 11.3% from 2024 to 2033.
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Pharmaceutical Water Market: Rising Research to Set Expansion in the World
The selection of filtration methods is crucial in pharmaceutical applications. In this market, manufacturers are increasing research and development activities to adopt alternative filtration procedures such as reverse osmosis and nanofiltration. Hence, enhanced production practices have contributed to increasing the demand for the market.
In addition, the rising upsurge in responsiveness for routine diagnosis and checkup, the rise of generic and biopharmaceutical injectable drugs sectors, and increasing burden of diabetes among the geriatric population and obese, and the increasing focus of major players on the expansion and development of manufacturing facilities suitable for generic formulations are further expected to drive the growth of the pharmaceutical water market during the forecast period.
Increasing Growth of Biosimilars and Biopharmaceuticals to Fuel the Market Growth
Biopharmaceuticals such as cell and gene therapies, vaccines, recombinant proteins, and monoclonal antibodies require the use of high-quality water addressing strict purity standards at several stages of manufacturing. In addition, the increasing number of approved biosimilars that are the biologic equivalents of approved biologics is further driving the market growth.
Pharmaceutical water is a necessary raw material utilized in the manufacturing and development of biosimilars and biologics. The significant increase in production capacities and the increasing biopharma sector are enhancing the demand for pharmaceutical water. Thus, these driving factors are expected to enhance the growth of the pharmaceutical water market during the forecast period.
However, Product Recalls in Pharmaceutical Water May Restrain the Market’s growth.
Product recalls have been a cause of worry hindering the growth of the market for pharmaceutical water, which is necessary production of medical and medicine solutions. Pharmaceutical water behaves as a medium formulation and a raw material in the drug manufacturing process, so any contamination or impurity in its pharmaceutical water purity can negatively impact the efficacy and safety of the end product in the pharmaceutical water. Thus, these factors are expected to restrain the growth of the pharmaceutical water market during the estimated period.
Growing Demand in Developing Markets to Revolutionize Market Growth
The market for pharmaceutical water creates significant growth opportunities in developing countries such as India, China, and other countries. These countries have the fastest growing pharmaceutical industry by expanding generic drug manufacturing coupled with increasing healthcare access, investments in research and development infrastructure, and large biotechnology sectors. Multinational and local pharmaceutical companies are creating new facilities in developing markets to serve growing export and domestic demand. This will increase the adoption of pharmaceutical water treatment systems and offer significant growth opportunities to manufacturers. Thus, these factors are expected to enhance the growth of the pharmaceutical water market in the coming years.
Asia Pacific is Expected to Grow at the Fastest Rate During the Forecast Period.
The growth of the market for pharmaceutical water is driven by growing healthcare expenditure, increasing investments in the pharmaceutical water industry, and rising pharmaceutical manufacturing. China, India, Japan, and South Korea are the major countries in the market. China is considered to be the fastest emerging country in the market. India also shows the significant growth in the market.
• For instance, In May 2024, a subsidiary of Veolia and a leading specialist in water treatment technologies and services, Veolia Water Technologies, announced the inauguration of its first ion exchange regeneration facility in China. The facility features state-of-the-art technology to efficiently recycle spent ion exchange resins and promote sustainability and resource optimization.
North America Dominated the Pharmaceutical Water Market in 2023.
The growth of the market for pharmaceutical water in North America is driven by the strong regulatory landscape, growing pharmaceutical sector, and growing well-established pharmaceutical industry. The U.S. and Canada are the leading countries in the region. North America leads with robust pharmaceutical manufacturing services and stringent regulations and further focuses on high-quality pharmaceutical water standards.
• For instance, in February 2024, the latest generation of Polaris was launched by Veolia Water Technologies in the United States. It is a high-capacity steam generation solution and water distillation and is specially developed for the pharmaceutical industry. The skid-mounted Polaris™ 2.0 Pure Steam Generator (PSG) systems and PoIaris™ 2.0 Multiple Effect Distiller (MED), by using a range of standard options have been engineered to pure steam in line with European, Japanese, and US Pharmacopoeia standards and reliably deliver the required volumes of water for injection.
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Pharmaceutical Water Market Segments
By Application type, the Pharmaceutical and Biotechnology Companies Segment Led the Market
The pharmaceutical and biotechnology companies segment dominated the largest market share in 2023. Pharmaceutical water is a crucial material in the manufacturing of pharmaceutical products. These products are used in various stages of production such as quality control, cleaning, and formulation. Biotechnology and pharmaceutical companies have the infrastructure, resources, and expertise to ensure high-quality pharmaceutical water and to address these regulatory standards.
Pharmaceutical Water Market Revenue, By Type, 2022-2030 (USD Bn)
By Type 2022 2023 2027 2030
HPLC Grade Water 7.29 8.10 11.84 15.24
Water for Injection 27.41 30.60 45.56 59.49
By Type, the Water for Injection Segment Led the Market
The water for injection-segment dominated the pharmaceutical water market in 2023. Water for the injection segment is a crucial material in pharmaceutical manufacturing procedures, especially in producing parenteral drugs such as sterile solutions, infusions, and injectables. Regulatory agencies ensure stringent quality standards for WFI to ensure product efficacy and safety.
Pharmaceutical Water Market Revenue, By Type, 2022-2030 (USD Bn)
By Application 2022 2023 2027 2030
Pharmaceutical & Biotechnology Companies 19.97 22.30 33.25 43.44
Academics & Research Laboratories 14.72 16.39 24.15 31.29
Major Breakthroughs in the Pharmaceutical Water Market
• In June 2024, Asahi Kasei announced that it had begun selling a membrane system to manufacture water for injection in Germany. It was a type of sterile water that was utilized for the production of injections. By leveraging the system design and development capabilities of Microza™ hollow-fiber membrane for water treatment and filtration of liquid products, the membrane system was developed as an alternative to the conventional distillation processes for the production of WFI. This system enables lower CO2 emissions and lower costs in the production of WFI by reducing the need to generate steam.
• In July 2022, Water Technologies and Solutions, SUEZ announced a new data management software platform, DataShare Elite for Sievers Total Organic Carbon (TOC) Analyzers. DataShare Elite centralized conductivity data and TOC from various locations, allowing faster and more informed decision-making while maintaining compliance requirements and data integrity.
• In March 2023, a subsidiary of the Alter Pharma Group, Milla Pharmaceuticals Inc., and the Alter Pharma Group announced the launch of a Generic Version of Magnesium Sulfate in non-invasive, water for injection and single patient-use containers by Their Partner Athenex Pharmaceutical Division (APD)
Pharmaceutical Water Market Top Key Companies:
• Baxter International, Inc.
• Merck KGaA
• Braun Melsungen AG
• Thermo Fisher Scientific, Inc
• Cytiva (Danaher)
• Fresenius Kabi AG
• Pfizer, Inc.
• CovaChem, LLC
• Intermountain Life Sciences
Pharmaceutical Water Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Pharmaceutical Water market.
By Type
• HPLC Grade Water
• Water for Injection
By Application
• Pharmaceutical & Biotechnology Companies
• Academics & Research Laboratories
By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
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