PUBLISHER: Meticulous Research | PRODUCT CODE: 1518393
PUBLISHER: Meticulous Research | PRODUCT CODE: 1518393
Laboratory Water Purification System Market Size, Share, Forecast, & Trends Analysis By Mode of Use (Point of Use, Clinical Analyzer), Type [Ultrapure, Pure], Application (Chromatography, Microbiology), End User (Pharma, Hospital)-Forecast to 2030
The global laboratory water purification system market is projected to reach $10 billion by 2030 at a CAGR of 9.1% from 2023 to 2030.
Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities. This growth is due to the rapid expansion & growth of the pharmaceutical & biotechnology industry, rising R&D expenditure of biopharmaceutical companies, growing demand for purified water in laboratories, and increased focus on new drug development, and growing demand for biopharmaceuticals.
Furthermore, untapped market potential in emerging economies is expected to generate growth opportunities for the players operating in this market. However, the high costs of lab water purification system are major challenges impacting market growth.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over four years (2020-2023). The key players operating in the global laboratory water purification system market are Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Labconco Corporation (U.S.), Evoqua Water Technologies LLC (U.S.), Veolia Water Solutions & Technologies (France) (Subsidiary of Veolia Environnement S.A. (France)), Sartorius AG (Germany), Yamato Scientific Co., Ltd. (Japan), Danaher Corporation (U.S.), Biolab Scientific Ltd. (Canada), Aqua Solutions, Inc. (U.S.), SUEZ Water Purification Systems Ltd (U.K.), NEPTEC GmbH (Germany), and RephiLe Bioscience Ltd. (U.S.).
In 2023, according to the report, the use segment is projected to capture the largest share of the lab water purification systems market among all modes of use studied. The large market share of this segment is attributed to its benefit of providing purified water on demand, wherever it is needed, and its use in various applications from routine washing & rinsing of laboratory glassware for inductively coupled plasma mass spectrometry (ICPMS), and ultra-trace analysis.
Among all the types studied in this report, In 2023, type 1- ultrapure water segment is expected to account for the largest share of the lab water purification systems market. The large market share of this segment can be attributed to the high demand for ultrapure water for various applications such as mammalian cell culture and HPLC, and the increased need for high-purity water in various laboratory experiments.
Among all the applications studies in this report, in 2023, chromatography segment is expected to account for the largest share of the laboratory water purification systems market. This segment's large market share is attributed to the high requirement of laboratory water purification systems in pharmaceutical & biotechnology industries for HPLC, other chromatographic methods given its high sensitivity, and the increasing adoption of chromatographic techniques in pharmaceutical quality control.
Among all the end users studied in this report, in 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the laboratory water purification system market. The large market share of this segment is attributed to the higher demand for laboratory water purification systems in the biotechnology & pharmaceutical industry, especially for drug discovery and manufacturing applications, and the rising R&D expenditure in biopharma companies.
An in-depth analysis of the geographical scenario of the global laboratory water purification system market provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa), along with the coverage of major countries in each region. In 2023, North America is expected to account for the largest share of the laboratory water purification system market. In 2023, the U.S. is expected to account for the largest share of the laboratory water purification system market in North America. The large share of this market is attributed to the robust pharma & biotech infrastructure, high R&D spending and investments, and presence of top academic & research institutions in the region. The availability of funding and collaborations among stakeholders to conduct life science research also contributes to the large share of this market.
Laboratory Water Purification System Market Assessment-by Mode of Use
Laboratory Water Purification System Market Assessment-by Type
Note: (Other types include water distillation systems, cartridge systems, combined water systems, and clinical laboratory reagent water systems)
Laboratory Water Purification System Market Assessment-by Application
Note: Other applications include elemental analysis, molecular biology, pH meter solution, dissolution in pharmaceuticals, washing, and rinsing purposes.
Laboratory Water Purification System Market Assessment-by End Users
Note: Other end users include contract research organizations, forensic laboratories, and government laboratories.
Laboratory Water Purification System Market Assessment-by Geography