(PharmaNewsWire.Com, August 18, 2021 ) The Key Growth Elements in Detailed?
The Growth in Laboratory Filtration Market is driven majorly by the rising R&D spending in the pharmaceutical & biopharmaceutical industry, growing demand for membrane filtration technology, increasing purity requirements in end-user segments, and growing focus on developing large-molecule biopharmaceuticals. However, the high cost of systems is expected to restrain the growth of the lab filtration market to a certain extent during the forecast period.
Worldwide Growth Opportunities in Terms of Revenue: The global laboratory filtration market size is projected to reach USD 4.1 billion by 2025 from USD 2.5 billion in 2019, at a CAGR of 8.3% during the forecast period.
The microfiltration segment accounted for the largest share of the market.
Based on technique, the market is segmented into microfiltration, ultrafiltration, reverse osmosis, vacuum filtration, and nanofiltration. The microfiltration segment accounted for the largest share in 2018, while the ultrafiltration segment is projected to witness the highest growth during the forecast period. Rising R&D activities in the pharma industry and wide applications in the food & beverage industry are the key factors boosting the growth of this market segment. Also, the growing production of biotherapeutic molecules is expected to drive the demand for ultrafiltration filters in the coming years.
Pharmaceutical & biotechnology companies are the largest end users of the lab filtration market
Based on end user, the laboratory filtration market is segmented into pharmaceutical & biotechnology companies, the food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutions. The pharmaceutical & biotechnology companies segment accounted for the largest market share in 2018. The high adoption of lab filtration in pharmaceutical & biotechnology companies for the development of large drug molecules accounts for the large share of this segment. Furthermore, increasing regulations for the manufacturing of defect-free end products will also drive focus on quality control measures in the pharmaceutical & biotechnology industry and, thereby, support market growth.
The global lab filtration market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the market. The growth of the market in North America is mainly driven by the large number of pharmaceutical & biotechnology and food & beverage companies in the region, the presence of a well-established healthcare market, and the stringent regulatory scenario in the pharmaceutical industry.
Major Key Players Mentioned in the research report are:
The prominent players in the global laboratory filtration market are Merck Millipore (US), Danaher Corporation (US), Sartorius Ag (Germany), 3M Company (US), GE Healthcare (US), GEA GROUP AKTIENGESELLSCHAFT (Germany), Cantel Medical Corporation (US), Thermo Fisher Scientific (US), Veolia Water Technologies (France), Avantor, Inc (US), GVS S.p.A (Italy), MANN+HUMMEL (Germany), Agilent Technologies, Inc (US), Ahlstrom-Munksjö (Finland), MACHEREY-NAGEL GmbH & Co. KG (Germany), AMD Manufacturing, Inc (Canada), Koch Membrane Systems (US), Cole-Parmer (US), AQUAPORIN A/S (Denmark), and Sterlitech Corporation (US).
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