Laboratory Filtration Equipment Market
Number of pages: 100 | Report Format: PDF | Published date: April 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 3.75 billion |
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Revenue Forecast in 2031 |
US$ 7.25 billion |
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CAGR |
7.59% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Technique, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global laboratory filtration equipment market was valued at US$ 3.75 billion in 2022 and is expected to register a revenue CAGR of 7.59% to reach US$ 7.25 billion by 2031.
Laboratory Filtration Equipment Market Fundamentals
The laboratory filtration equipment market is expected to show notable revenue growth during the forecast period. Some trends observed in the market are technological advancements, rapidly growing research and development activities, and government investments in healthcare infrastructure. Additionally, the rising number of strategic collaborations, increasing number of hospitals and laboratories, increasing use of analytical instruments by researchers and scientists, and rising per capita expenditure on health care contribute to the market's future revenue growth.
The technique of physically or mechanically separating particles or components from a sample medium, such as a liquid or gas, by introducing a medium that only enables the gas or liquid to pass through requires laboratory filtration equipment. Laboratory filtration can be utilized to secure instruments. Analytical filtration is also used in water quality testing to determine the microbiological composition of samples.
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Market Dynamics
The global laboratory filtration equipment market revenue is primarily driven by increasing research and development activities in the pharmaceutical and biotechnology industries, growing demand for clean and safe laboratory environments, and the rising prevalence of chronic diseases. Additionally, the growing need for laboratory filtration equipment in various end-use industries, including food and beverage, environmental biotechnology, and academic and research institutes, is fueling market revenue growth.
Moreover, the adoption of advanced technologies such as nanofiltration and microfiltration and the increasing trend of outsourcing laboratory filtration services are also creating new growth opportunities in the market. The rising use of filtering technology in the pharmaceutical, biopharmaceutical, and food and beverage sectors, and the growing need for more efficient filters, are driving market revenue. In addition, the filtering procedure reduces the number of contaminants such as suspended particles, parasites, bacteria, algae, viruses, and fungi. The laboratory filtration process has several advantages, including the effective removal of inorganic salts and other contaminants with high boiling temperatures and that distilled water is sufficiently clean for most laboratory purposes. Filters filter out particles and bacteria that are bigger than their pore size. Ultrafilters are also used to remove colloids, endotoxins, and microorganisms inexpensively and concisely. Manufacturers are developing large-volume filtering technologies in the pharmaceutical and biopharmaceutical industries.
Furthermore, the increasing focus of key players on product innovation and development, strategic collaborations and partnerships, and expansion of their geographical presence are expected to further boost the revenue growth of the laboratory filtration equipment market. However, factors such as the high cost associated with laboratory filtration equipment, lack of skilled professionals, and stringent regulatory requirements may hinder the market's revenue growth.
Market Ecosystem
The global laboratory filtration equipment market is analyzed from four perspectives: product, technique, end user, and region.
Laboratory Filtration Equipment Market by Product
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Based on product, the global laboratory filtration equipment market is segmented into filtration media, filtration assemblies, and filtration accessories.
Filtration media is expected to grow rapidly during the forecast period from 2023 to 2031. The filtration media segment is further sub-segmented into membrane filters, filter papers, filtration microplates, syringeless filters, syringe filters, capsule filters, and others. Filtration media is most commonly used in laboratory filtration equipment. It separates particles and impurities from various substances, such as liquids, gases, and solids. Filtration media can be used in various applications, including pharmaceuticals, biotechnology, food and beverage, environmental testing, and industrial processes. This versatility makes it a popular choice for laboratory filtration equipment. Filtration media is relatively inexpensive compared to other filtration methods, such as centrifugation or chromatography. This makes it an attractive option for researchers and laboratories with limited budgets. Filtration media is easy to use and requires minimal training. It is available in various forms, such as filters, membranes, and cartridges, and is easily integrated into laboratory filtration equipment. Filtration media effectively removes impurities and particles from liquids, gases, and solids. This makes it an essential component of laboratory filtration equipment and a popular choice for researchers and scientists worldwide.
Similarly, the filtration assemblies segment is expected to grow with a notable revenue share during the forecast period. Filtration assemblies are used in various applications, including research and development, quality control, biotechnology, pharmaceuticals, environmental analysis, food and beverage, and others. This broad range of applications makes them highly demanded by different industries, resulting in increased revenue share. The demand for sterile filtration has been growing rapidly in the pharmaceutical and biotechnology industries to maintain the purity and safety of products. Filtration assemblies can perform sterile filtration and are highly preferred by these industries, contributing to their revenue share. Filtration assemblies are easy to use and maintain, making them highly desirable for laboratory technicians. They are also available in a variety of sizes and configurations, making them suitable for different laboratory applications. This ease of use and flexibility contribute to their popularity and revenue share. Filtration assemblies have undergone significant technological advancements, improving efficiency, accuracy, and reliability. Filtration assemblies are generally cost-effective compared to other laboratory filtration equipment, making them highly accessible to a broad range of laboratories. This affordability and accessibility contribute to their high demand and revenue share in the global laboratory filtration equipment market.
Laboratory Filtration Equipment Market by Technique
Based on technique, the global laboratory filtration equipment market is segmented into microfiltration, nanofiltration, reverse osmosis, ultrafiltration, and vacuum filtration.
The microfiltration segment accounts for the largest revenue share in the global market. Microfiltration is a commonly used technique in laboratory research and analysis. It is widely used for sample preparation and analysis in various fields, including biotechnology, pharmaceuticals, and food and beverage processing. Microfiltration is an effective method for separating particles and molecules from a liquid or gas sample. It is used for many applications, including removing bacteria, viruses, and other small particles from liquids. This makes it an essential technique in many laboratory workflows, including protein purification, cell culture, and DNA isolation. Additionally, microfiltration is relatively easy to use, does not require complex equipment, and is cost-effective compared to other filtration methods. It is also a gentle process that does not damage or denature proteins, making it ideal for sensitive samples.
Laboratory Filtration Equipment Market by End User
Based on the end user, the global laboratory filtration equipment market is segmented into pharmaceutical & biotechnology companies, academic & research institutions, hospitals & diagnostic laboratories, and others.
Pharmaceutical & biotechnology companies registered for the largest revenue share in the global market. Pharmaceutical and biotechnology companies are highly regulated, and the quality of their products must meet strict standards. Laboratory filtration equipment is crucial in ensuring the products' purity and quality, making it a vital component in manufacturing. These companies invest heavily in research and development to discover new drugs and therapies. Laboratory filtration equipment is essential in this process as it helps researchers and scientists isolate, purify, and analyze different molecules and compounds. The pharmaceutical and biotechnology industry produces drugs and therapies on a large scale. The equipment used in the production process needs to be efficient, reliable, and consistent. Therefore, laboratory filtration equipment meets these criteria and is preferred by pharmaceutical and biotechnology companies. The laboratory filtration equipment industry is constantly evolving, and new technologies are being developed to improve the efficiency and effectiveness of the equipment. The pharmaceutical and biotechnology industry is quick to adopt these advancements to enhance manufacturing. Since the hospital and diagnostic laboratories are the most sophisticated regarding medication innovations and clinical research, there is a significant need for laboratory filtration equipment and supplies. Furthermore, due to the rising use of microfiltration systems in hospitals and diagnostic laboratories in this area. Thus, all these factors are responsible for revenue growth.
Laboratory Filtration Equipment Market by Region
Based on the region, the global laboratory filtration equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Due to major filtration product manufacturers, the construction of well-developed laboratories, and increased government support for fundamental research, North America is the primary market for laboratory filtration products. The key elements contributing to a large target population in North America are expanding target illnesses and rising treatment needs. Additionally, the region's laboratory filtration goods are adopted faster due to increased industrialization and the availability of new products.
The Asia Pacific region is expected to grow rapidly during the forecast period due to an increasing number of key players focusing on establishing operational facilities in these regions, the presence of a large number of generic medicines manufacturing industries, and the growing initiatives of food and beverage companies to launch quality products.
Competitive Landscape of the Global Laboratory Filtration Equipment Market
The prominent players operating in the global laboratory filtration equipment market are:
Strategic Development in Laboratory Filtration Equipment Market
3M Company, Merck KGaA, Danaher Corporation, and Sartorius AG are a few key players in the global laboratory filtration equipment market.
The filtration media segment dominates the global laboratory filtration equipment market in terms of revenue share.
Asia Pacific region expects the highest global laboratory filtration equipment market revenue growth during the forecast period.
High costs connected with research and development capabilities, limited infrastructural facilities, and a lack of favorable reimbursement scenarios and technological adoption in developing economies are some of the restraints impeding global market revenue expansion.
The laboratory filtration equipment market is expected to grow at a revenue CAGR of 7.59% during the forecast period.
Insights on financial performance are subject to the availability of information in the public domain