PUBLISHER: Verified Market Research | PRODUCT CODE: 1624432
PUBLISHER: Verified Market Research | PRODUCT CODE: 1624432
Laboratory Filtration Market size was valued at USD 2.98 Billion in 2020 and is projected to reachUSD 5.04 Billion by 2028, growing at aCAGR of 8.77% from 2021 to 2028.
The Laboratory Filtration technology is finding its increase in application in various end-user industries and has led to the rapid development of the global Laboratory Filtration Market. The Global Laboratory Filtration Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Laboratory Filtration Market Definition
The separation process to remove the solid particles from liquid or gas by depositing them on a filter medium is called Laboratory Filtration. The various types of research in development laboratories, pharmaceutical, and biotechnology industries are employing Laboratory Filtration devices. Laboratory Filtration uses various techniques such as ultrafiltration, vacuum filtration, nanofiltration, reverse osmosis, microfiltration. One of the technologies, microfiltration removes the contaminants from air or liquid with the help of a microporous membrane.
Global Laboratory Filtration Market Overview
The growth of the global Laboratory Filtration Market is being driven by increasing investment in research and development by the pharmaceutical and biopharmaceutical industry. The demand for membrane filtration technology is also increasing. The requirement for purity is also increasing in end-user segments and hence the global Laboratory Filtration Market is flourishing at a rapid pace. The increasing focus on developing large molecule biopharmaceuticals has also led to the global Laboratory Filtration Market grow at a rapid pace.
However, some restraints are liming the growth of the global Laboratory Filtration Market. The latest technological developments and alternative technologies might negatively hamper the overall global Laboratory Filtration Market. Also, for setting up the production facilities, a high amount of capital funds is required. This may hinder the growth of the global Laboratory Filtration Market.
The Global Laboratory Filtration Market is segmented based on Product, Technology, End-User, and Geography.
Based on Product, the market is bifurcated into Filtration Media, Filtration Assembly, and Filtration Accessories. The filtration media segment dominated the global Laboratory Filtration Market owing to its wide range of applications in sterilizing, sample preparation, fluid monitoring, and final filtration.
Based on Technology, the market is bifurcated into Microfiltration, Ultrafiltration, Reverse Osmosis, Nanofiltration, and Vacuum Filtration. Microfiltration accounted for the largest market share in 2019. The adoption of microfiltration has been increased in the market owing to the chemical resistance and high thermal stability. Microfiltration enables a high separation facility and does not require additional solvents that provide easy operation and implementation of the technique.
Based on End-User, the market is bifurcated into Pharmaceutical & Biopharmaceutical Companies, Hospital and Diagnostic Laboratories, Food & Beverage Companies, and Academic & Research Institutes. Pharmaceutical & Biopharmaceutical Companies accounted for the largest market share in 2019. Filtration is an essential process step in pharmaceutical and biopharmaceutical laboratory applications. Filtration systems are installed in pre-filtration or sterilizing grade filtration, fermentation broth, fine chemicals, or filling of OTC products. Moreover, robust ultrafiltration processes play a crucial role in the development of biopharmaceutical products.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.