Global Laboratory Filtration Market Size, Leading Players, Growth and Future Scope
The laboratory filtration market is expected to grow at a CAGR of 7.3% during the forecast period. The market is being positively impacted by the increasing use of the filtration process in pharmaceutical and biopharmaceutical and food and beverages industry, and the introduction of technologically advanced products. Filtration separates two components, usually solid from liquid, with the help of size-specific filters. Laboratory filtration products find application in microbial analysis, water treatment plants, drug discovery and development, virus removal, and research laboratories.
The laboratory filtration market is being driven by numerous factors; one of these is the increasing research in biopharmaceutical and pharmaceutical industry. Water is required in its purest form for the research and manufacture of pharmaceutical and biopharmaceutical products. To obtain microbe-free water, several filtration techniques are used, such as ultrafiltration, vacuum filtration, and microfiltration, as these provide precise and reliable samples. The market is expected to grow because of the rise in demand for biopharmaceutical and pharmaceutical products.
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The laboratory filtration market is segmented by geography, technology, and product. The technology segment is categorized into vacuum filtration, microfiltration, nanofiltration, ultrafiltration, reverse osmosis, and others. The largest share (35.5%) in terms of revenue in 2017 was held by the microfiltration category, and the CAGR for it is expected to be 6.8% during the forecast period. In 2023, about 34.4% of laboratory filtration market share is expected to be held by three countries, Germany, Japan, and the U.S.
When segmented by product, the market is divided into filtration assemblies, filtration media, and filtration accessories. Laboratory filtration media was the dominating category during the historical period (2013–2017). This is credited to the fact that this category includes products such as filter papers, membrane filters, and filtration microplates that see heavy usage in research facilities. This is why the laboratory filtration market is expected to grow to $1,438.3 million in this category by 2023, attaining a CAGR of 6.8% during the forecast period.
Therefore, the rising demand for pharmaceutical and biopharmaceutical products, which would lead to an even heavier usage of the filtration process in laboratories, is predicted to supplement the growth of the market.
