The source of the problem is that 'is defined as a quote and as a regular char.
You can avoid this, for example.
'colA'|'colB'
'word"A'|'A'
'word/'B'|'B'
And then use escapechar:
>>> pd.read_csv('input.csv',sep='|',quotechar="'",escapechar="/")
colA colB
0 word"A A
1 word'B B
: quoting = csv.QUOTE_ALL -
>>> import pandas as pd
>>> import csv
>>> pd.read_csv('input.csv',sep='|',quoting=csv.QUOTE_ALL)
'colA' 'colB'
0 'word"A' 'A'
1 'word'B' 'B'
>>>