Laboratory Filtration Market Size 2023
The laboratory filtration market is expected to grow at a decent pace during the forecast period, according to the research report published by P&S Intelligence. The market is mainly driven by the increasing use of laboratory filtration products in the food and beverage industry, introduction of technologically advanced products, increasing research activities in pharmaceutical and biopharmaceutical industries, and surge in the adoption of filtration products in clinical laboratories. The laboratory filtration market is expected to grow at a decent pace during the forecast period, according to the research report published by P&S Intelligence. The market is mainly driven by the increasing use of laboratory filtration products in the food and beverage industry, introduction of technologically advanced products, increasing research activities in pharmaceutical and biopharmaceutical industries, and surge in the adoption of filtration products in clinical laboratories.
Laboratory Filtration Market to Reach $3.5 Billion by 2023 www.psmarketresearch.com
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<strong>Laboratory</strong> <strong>Filtration</strong> <strong>Market</strong> to<br />
Reach $3.5 Billion by <strong>2023</strong><br />
www.psmarketresearch.com
<strong>Laboratory</strong> <strong>Filtration</strong> <strong>Market</strong><br />
The global laboratory filtration market is expected to reach $3.5 billion by <strong>2023</strong>. The market is<br />
mainly driven by the increasing use of laboratory filtration products in the food and beverage<br />
industry, introduction of technologically advanced products, increasing research activities in<br />
pharmaceutical and biopharmaceutical industries, and surge in the adoption of filtration<br />
products in clinical laboratories.<br />
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<strong>Laboratory</strong> <strong>Filtration</strong> <strong>Market</strong><br />
Based on product, the laboratory filtration market has been categorized into filtration media,<br />
filtration assemblies, and filtration accessories. During the forecast period, the market is expected<br />
to witness the fastest growth in the category of filtration assemblies, exhibiting a CAGR of 7.7%.<br />
<strong>Filtration</strong> assemblies have been sub-categorized into microfiltration, ultrafiltration, reverse<br />
osmosis, vacuum filtration, and others. Among these, microfiltration assemblies held the largest<br />
share, amounting to 37.2%, in the laboratory filtration assemblies market in 2017.<br />
On the basis of technology, the laboratory filtration market has been categorized into<br />
microfiltration, ultrafiltration, reverse osmosis, nanofiltration, vacuum filtration, and others.<br />
Among these, the fastest growth in the market during the forecast period is expected from the<br />
nanofiltration technology, with 10.4% CAGR.<br />
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<strong>Laboratory</strong> <strong>Filtration</strong> <strong>Market</strong><br />
During the forecast period, the laboratory filtration market is expected to witness the fastest<br />
growth in APAC, on account of improving healthcare infrastructure, rising prevalence of chronic<br />
diseases, and increasing production of pharmaceutical products in the region. According to the<br />
World Bank, the healthcare expenditure of South Asia was 3.9% of its total gross domestic<br />
product (GDP) in 2000, which increased to 4.4% in 2014. Further, the healthcare expenditure of<br />
East Asia and Pacific was 6.5% of its GDP in 2000, which increased to 6.9% in 2014. Similarly, the<br />
healthcare expenditure of Japan was 7.5% of its GDP in 2000, which increased to 10.2% in 2014.<br />
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<strong>Laboratory</strong> <strong>Filtration</strong> <strong>Market</strong><br />
In order to increase their market share, key players in the laboratory filtration industry are developing<br />
and introducing new products. For instance, in February 2018, Merck KGaA launched Viresolve barrier<br />
capsule filters to reduce the risk of bioreactor contamination. Viresolve barrier filters are designed to<br />
remove viruses, mycoplasma, and bacteria from cell culture media.<br />
Moreover, in September 2017, Merck KGaA launched Millistak+ HC Pro, a portfolio of high-capacity, fully<br />
synthetic depth filters for non-treated Chinese hamster ovary harvest clarification and downstream<br />
filtration applications. The Millistak+ HC Pro filter media provide a cleaner and more consistent depth<br />
filtration process as compared to traditional diatomaceous earth and cellulose-based filtration<br />
processes.<br />
Some of the other key players operating in the laboratory filtration market are General Electric Company,<br />
Cantel Medical Corporation, Thermo Fisher Scientific Inc., Danaher Corporation, 3M Company, Sartorius<br />
AG, and MACHEREY-NAGEL GmbH & Co. KG.<br />
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