Laboratory Filtration Market
Number of pages: 100 | Report Format: PDF | Published date: May 30, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 3.75 billion |
|
Revenue Forecast in 2031 |
US$ 7.25 billion |
|
CAGR |
7.59% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Technology, Product, and Region |
|
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 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 Market Fundamentals
Laboratory filtration plays a crucial role in a wide range of scientific and industrial applications, serving as a vital process for separating solid particles from liquids or gases. It purifies and clarifies samples, removes impurities, and ensures the quality and integrity of various analytical and biological processes. As technology advances, laboratory filtration has witnessed emerging trends enhancing efficiency and effectiveness. Some of the emerging trends in laboratory filtration are developing advanced filter materials. Manufacturers constantly explore new materials with improved characteristics, such as higher porosity, enhanced chemical resistance, and greater durability.
These innovative filter materials enable faster filtration rates, better particle retention, and increased throughput, ultimately leading to improved productivity in the laboratory. Furthermore, the demand for sustainable and eco-friendly filtration solutions has become a prominent trend in recent years. Many laboratories now prioritize using environmentally friendly filter materials and adopting filtration systems that minimize waste generation and energy consumption. This focus on sustainability aligns with global efforts to reduce the environmental impact of scientific research and industrial processes.
Additionally, market players in the laboratory filtration market are expanding their product portfolios to offer comprehensive filtration solutions. They strive to provide various filters, membranes, and filtration systems tailored to different laboratory applications. This diversification enables them to cater to a broader customer base and capture a larger market share. Market players actively engage with scientific communities, attend conferences, and participate in trade shows to showcase their expertise and products.
Laboratory Filtration Market Dynamics
Technological advancements play a significant role in driving the laboratory filtration market. Manufacturers are constantly innovating and introducing new filtration techniques, materials, and equipment to enhance filtration efficiency, accuracy, and ease of use. For instance, the development of nanotechnology has led to the creation of advanced filters with smaller pore sizes, enabling precise particle separation. These advancements improve the quality and reliability of filtration processes and contribute to increased productivity and cost-effectiveness in laboratories.
Funding for pharmaceutical research has a positive impact on the laboratory filtration market. Pharmaceutical research involves extensive laboratory work, including drug discovery, development, formulation, and quality control. According to the Congressional Budget Office, the pharmaceutical industry invested approximately $83 billion dollars on research and development in 2019. Moreover, big pharmaceutical players such as AstraZeneca, Bristol-Myers Squibb, and Merck KgaA invested a record-breaking $138 billion in research and development, with oncology candidates leading in pipeline development last year. The $138 billion investment represents approximately 19% of these companies total sales.
Stringent regulations and quality standards in various industries, including pharmaceuticals, biotechnology, food and beverage, and environmental testing, drive the demand for laboratory filtration. Compliance with regulations requires laboratories to ensure the removal of impurities, contaminants, and particulates from samples and products. Laboratory filtration is vital in meeting these regulatory requirements and maintaining product quality and safety.
While the laboratory filtration market has several drivers, some restraining factors can impact its growth and development. High cost of advanced filtration technologies, limited awareness and adoption in emerging economies, and complex maintenance process.
Laboratory Filtration Market Ecosystem
The global laboratory filtration market is analyzed from three perspectives: technology, product, and region.
Laboratory Filtration Market by Technology
Based on technology, the global laboratory filtration market is segmented into vacuum filtration, ultrafiltration, reverse osmosis, nanofiltration, and microfiltration.
The ultrafiltration segment accounted for most of the global laboratory filtration market revenue share 2022. This is attributed to the increasing demand for high-quality purified water in various laboratory applications. Moreover, ultrafiltration is commonly used to purify water, proteins, and other biomolecules in laboratories. The growing adoption of ultrafiltration in pharmaceutical and biotech research and development is also expected to drive the growth of the ultrafiltration segment. Moreover, the growth of the ultrafiltration segment can be attributed to its numerous advantages and a broad range of applications, including protein purification and isolation, vaccine production, and increased investment in research and development.
However, the vacuum filtration segment is expected to register 8.1% of revenue CAGR. This is majorly attributed to its usage in pharmaceutical industries for quality checks of drugs and research and development of products. Moreover, it is a commonly used technique for separating solids from liquids in laboratories. It involves applying a vacuum to draw the liquid through a filter medium, allowing for efficient separation. Vacuum filtration is widely employed for particle removal, sterilization, and clarification in various laboratory processes.
Laboratory Filtration Market by Product
Based on the product, the global laboratory filtration market is segmented into filtration media, filtration assemblies, and filtration accessories.
The filtration media segment accounted for the majority of revenue share in the global laboratory filtration market. The segment is further sub-segmented into syringeless filters, syringe filters, membrane filters, filtration microplates, filter papers, and capsule filters. Filter membranes are widely used in laboratory filtration due to their ability to effectively separate particles and impurities from liquids or gases. The wide range of filtration media available allows laboratories to select the most suitable filtration method for their specific application, contributing to the growth of the global laboratory filtration market.
The filtration assemblies segment is expected to register a revenue CAGR of 8.2% during the forecast period. The segment is further divided into vacuum filtration assemblies, ultrafiltration assemblies, reverse osmosis assemblies, nanofiltration assemblies, and microfiltration assemblies. This growth signifies the increasing demand for filtration assemblies in various industries and laboratory settings. Filtration assemblies are comprehensive systems that combine different components to facilitate efficient filtration processes.
Laboratory Filtration Market by Region
Based on the region, the laboratory filtration market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounted for most laboratory filtration market revenue share in 2022. This is because North America strongly focuses on innovation, leading to the development of advanced laboratory filtration technologies and solutions. The availability of cutting-edge filtration products and systems drives market growth by offering laboratories improved efficiency, accuracy, and convenience. Moreover, the healthcare sector in North America is witnessing steady growth due to factors such as an aging population, increasing prevalence of chronic diseases, and advancements in medical technology.
The Asia Pacific laboratory filtration market is projected to show a significant growth of 8.4% CAGR in the forecast years. This is majorly attributed to increasing research studies and the demand for high-quality filtration products and technologies to support these research activities, driving the laboratory filtration market. Moreover, the Asia Pacific region has witnessed significant growth in the biopharmaceutical sector, including developing and manufacturing biologics, biosimilars, and cell-based therapies.
Laboratory Filtration Market Competitive Landscape
Several companies emphasize on strategic development tactics, such as new launches, product approvals, and other elements like patents and events. The market saw acquisition, partnership, and cooperation activities as inorganic development tactics. These initiatives have enabled the expansion of future economic business prospects and increased demand for calcitonin in the global laboratory filtration market.
Some of the prominent companies having the largest revenue share in the global laboratory filtration market are,
Laboratory Filtration Market Strategic Developments
Laboratory filtration plays a crucial role in a wide range of scientific and industrial applications, serving as a vital process for separating solid particles from liquids or gases.
The estimated market size of the laboratory filtration market in 2031 will be US$ 7.26 billion.
The global laboratory filtration market has witnessed significant growth in recent years due to increasing technological advancements and rising funding for pharma R&D.
The global laboratory filtration market is expected to register a revenue CAGR of 7.59% in the forecast period from 2023 to 2031.
North America region dominated the global laboratory filtration market in 2022.
*Insights on financial performance are subject to the availability of information in the public domain