Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Laboratory Filtration Market Report (2023-2028),” the market is estimated at USD 3.52 billion in 2023. It is expected to register a CAGR of 7.12% during the forecast period.
The mounting demand for vaccine development and manufacturing during the pandemic increased the adoption of laboratory filtration. Laboratory filtration equipment is essentially required for carrying out vaccine filtration procedures. Hence, such an increase in initiatives favoring vaccinations is anticipated increase vaccine production, which in turn may propel the demand for laboratory filtration.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 3.52 billion |
| Market Size (2028) | USD 4.96 billion |
| CAGR (2023-2028) | 7.12% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Fastest Growing Market | Asia -Pacific |
| Largest Market | North America |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The launch of new, transforming, and innovative technology in lab filtration. |
| An increase in initiatives favoring vaccinations. |
Who are the Top Companies in the Laboratory Filtration Market?
The global laboratory filtration market’s competition is set to intensify. Several key players are focusing on the expansion of their laboratory filtration portfolio via acquisition and collaboration with companies.
The noteworthy players holding the global laboratory filtration market are:
- 3M
- Merck KGaA
- Danaher Corporation (Pall Corporation)?
- Sartorius Group
- GVS SpA
- Cole-Parmer Instrument Company LLC
- Agilent Technologies Inc.
- Ahlstrom-Munksjo
- Abcam PLC
- Purolite
Other Reports That Might Be of Your Interest:
- Virus Filtration Market Report - The virus filtration market size is expected to grow from USD 4.56 billion in 2023 to USD 6.36 billion by 2028, at a CAGR of 6.89% during the forecast period (2023-2028).
- Laboratory Equipment and Disposables Market Report - Laboratory equipment and disposables market are expected to grow at a registered CAGR of 8.9% during the forecast period.
Key Highlights from the Laboratory Filtration Market Report:
Ultrafiltration Segment is Expected to Record Significant Adoption
- Ultrafiltration separates extremely small particles and dissolved molecules from liquids. In order to be separated by ultrafiltration, molecules must differ in size by at least an order of magnitude and have a molecular weight between 1 kDa and 1000 kDa. Ultrafiltration membranes can be employed to cleanse the filtrate or collect the retentate.
- The benefits and wide applicability of ultrafiltration, such as protein purification and isolation, vaccine manufacturing, and increased investments in research and development, are the crucial drivers for segment growth.
United States Expected to Hold Major Share
- North America is anticipated to witness substantial growth over the forecast period. The increase is due to expanding research work and rising investments in research and development by the public and private sectors.
- The key product launches, the high concentration of market players or the manufacturer’s presence, and acquisition & partnerships in the region are the major drivers for the market. Additionally, intensified investments by biopharmaceutical companies in R&D in the United States are also driving the growth of the laboratory filtration market in the country.
What are the Latest Developments in the Laboratory Filtration Market?
- In September 2022, Pall Corporation introduced three new Allegro Connect Systems to support Depth Filtration, Virus Filtration, and Bulk Fill of drug substances, and a Buffer Management System to simplify the creation of manufacturing workflows.
- In April 2022, Eaton extended its range of filter media containing activated carbon. The improved BECO CARBON depth filter sheets offer remarkably high adsorption properties for the demanding filtration of liquids.
Mordor Intelligence has Segmented the Laboratory Filtration Market Based on Technology, Product, and Geography:
- By Technology
- Microfiltration
- Ultrafiltration
- Reverse Osmosis
- Vacuum Filtration
- Nanofiltration
- By Product
- Filtration Media
- Membrane Filters
- Filter Papers
- Filtration Microplates
- Syringeless Filters
- Syringe Filters
- Capsule Filters
- Filtration Assemblies
- Microfiltration Assemblies
- Ultrafiltration Assemblies
- Vacuum Filtration Assemblies
- Reverse Osmosis Assemblies
- Nanofiltration Assemblies
- Filtration Accessories
- Filtration Media
- By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- South Africa
- GCC
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Laboratory Filtration Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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