The growth of this market can be attributed to the rising preference for continuous manufacturing in the biopharmaceutical industry and the increasing demand for biopharmaceuticals across the globe.

The Hollow Fiber Filtration Market is projected to reach USD 517.4 million by 2023 from USD 274.7 million in 2018, growing at a CAGR of 13.5%. 

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On the basis of application, the hollow fiber filtration market is segmented into continuous cell perfusion, harvest and clarification, and concentration and diafiltration. In 2018, continuous cell perfusion is expected to be the largest application segment in the hollow fiber filtration market. The biopharmaceutical industry is actively exploring the potential of continuous manufacturing, with a focus on upstream perfusion cell-culture processes that utilize hollow fiber filters. 

On the basis of material, the hollow fiber filtration market is segmented into polymeric and ceramic materials. In 2018, the polymeric hollow fiber filtration segment is expected to account for a larger share of the market as these filters are widely used in several ultrafiltration and microfiltration applications, including filtration, desalination, and biochemical reactions.

The Asian Pacific is expected to be the fastest-growing regional market for hollow fiber filtration. The high growth in this regional market can be attributed to the expansion of the biomanufacturing sector, increasing government support, developing R&D infrastructure, and growing outsourcing of bioproduction processes to Asia Pacific countries such as China and India.

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The hollow fiber filtration market is consolidated due to the presence of a few major players. Asahi Kasei Corporation (Japan), Repligen Corporation (US), GE Healthcare (US), Danaher Corporation (US), and Koch Membrane Systems (US) are the leading players in this market.