Selbyville, Delaware, May 26, 2020 (GLOBE NEWSWIRE) -- The global laboratory filtration market has been deemed to garner significant gains in the upcoming years while increasing at a growth rate of 6.12 per cent through 2027. This growth can aptly be credited to the surging research work being conducted by biopharmaceutical industry and elevated efforts towards development of biopharmaceutical molecules. Besides, introduction of highly advanced products, large scale usage of these techniques by various clinical laboratories, and adoption of laboratory filtration by F&B industry will also favor the overall expansion of laboratory filtration market.
The market analysis also incorporates elaborative study of the technological trends across various regions such as North America, Asia Pacific, Europe, and others while including the performance of each of these regions subject to the market valuation, prevalent growth opportunities, regulatory reforms guarding the product adoption, and presence of top notch companies. The report also constitutes of expansive competitive landscape, and vivid market segmentations that have enabled laboratory filtration industry to expand profusely over the years.
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However, dearth of highly skilled and trained professionals in the global industry and need for hefty investments for the development are likely to impede the market growth in the upcoming years. Likewise, stagnated innovation, time consuming regulations for filter validation, and presence of products with restricted variation high levies on imports would also stand as a setback for the global laboratory filtration market.
Laboratory filtration techniques are abundantly used to carry out several processes like drug screening, cell culturing, virus removal, and lab scale DNA and protein separation and analysis. Membrane filtration technology is currently being preferred for use in umpteen activities, thus paving way for increased demand for filtration equipment.
Geographical analysis:
The worldwide laboratory filtration industry has been diversified into various regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The given report delivers information of this market across the given regions and its analysis has been presented below:
According to the given market analysis, North America laboratory filtration market has been forecast to grow at a CAGR of 5.68 per cent over 2019-2027 owing to increasing growth statistics from the United States and Canada markets. Apparently, Canada boasts of a robust pharmaceutical industry presence and thus has been considered to be one of the prominent countries across the globe to conduct a greater number of clinical trials. The large scale penetration of laboratory filtration market in Canada can be ascribed to a strong R&D and clinical trial environment, rising geriatric population, and intervention of government programs promoting research and innovations.
Further, advancements in membrane filtration process have been potentially driving the market growth over the years. This technology makes use of a physical barrier to separate particle from a fluid. Also, given its exceptional properties like concentration, purification, clarification, and fractionation, membrane filtration has found significant application in the F&B industry, supporting the expansion of laboratory filtration industry size.
Another regional belt that is expected to garner considerable returns across the laboratory filtration industry in the ensuing years is Europe. It has been reported that the regional market, including prominent economies such as Germany, France, Italy, Russia, Spain, and various other countries, is expected to depict a growth rate of 5.53 per cent through 2027.
Across this belt, Germany is poised to stand as lucrative growth ground for Europe laboratory filtration market perhaps due to high level of research, production, and commercialization of pharmaceuticals in the country. This has enabled the nation to emerge as one of the best international locations for companies operating in the pharma sector, also because of the proximity to leading devices and equipment manufacturers. Moreover, the government of Germany has been offering infrastructural support to both local and foreign multinational companies for establishing new production facilities or expanding the current R&D ones.
Some of the fundamental factors supporting growth of laboratory filtration market in Germany are considerable developments in medical biotechnology research and a gradual rise in the national population.
Asia Pacific is touted to witness a rapid progress in the global laboratory filtration realm, with a growth rate of 7.34 per cent over 2019-2027, owing to the mounting applications of laboratory filtration method in the biopharma and food and beverage industries. Also, launch of new healthcare establishments and academic laboratories paired with government and corporate sector support and funding in the near future are also potentially accelerating the market growth across this region.
India has emerged as a hotbed for APAC laboratory filtration market given the increased size of middle-class households, increase in chronic and non-chronic diseases prevalence, which has urged people across the nation to opt for health insurance, and improved medical infrastructure. Subsequently, launch of plans like ‘Ayushman Bharat’ and ‘National Health Protection Scheme’ to ensure the health of low-income families in the country, have also been regarded as a favorable step in boosting the revenues of healthcare industry across India.
In fact, according to the IBEF, biotechnology industry in India is projected to surpass USD 100 billion by 2025, exhibiting a CAGR of 30 per cent annually. The industry is constituted of biopharmaceuticals, bio-services, bio agriculture, and bioinformatics. Of these, the biopharmaceutical sector, which is further sub divided into diagnostics, therapeutics, and vaccines, is said to acquire a revenue share of 62 per cent of the overall market revenue.
Competitive landscape outlook
Some of the major companies partaking in the global laboratory filtration market include GE Healthcare, 3M, Cantel Medical Corporation, Pall Corp., Sigma-Aldrich Corp., Thermo Fisher Scientific, Merck Millipore, and MACHEREY-NAGEL.
- GE Healthcare
A subsidiary of GE Company- GE Healthcare, was established post the buyout of Amersham Plc by GE Medical Systems. Products and services offered by the company have found immense applications in medical diagnostics, medical imaging, drug discovery, and biopharmaceutical manufacturing technologies.
It’s focus on cost effective innovations have enabled GE to garner traction and expertise in the development of medical solutions and technologies. Additionally, launch of novel and innovative products would support company’s strategy to drive it’s profit margin.
Table of Contents:
1. Global Laboratory Filtration Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Filtration Media Has the Highest Contribution In The Product Category
2.2.2. Nanofiltration Is the Fastest-Growing Technology During the Forecast Period
2.3. Porter’s Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Intensity of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Market Drivers
2.6.1. Introduction Of Products With Advanced Technology
2.6.2. Application Of Laboratory Filtration In The Food & Beverage Industry
2.6.3. Growth In The Usage Of Filtration In Clinical Laboratories
2.6.4. Growing Research Activities In The Biopharmaceuticals Sector
2.7. Market Restraints
2.7.1. Low Availability Of Specialized, Skilled And Trained Professionals
2.7.2. High Initial Investment
2.8. Market Opportunities
2.8.1. Rising Demand For Filtration Equipment
2.8.2. Increase In The Preference For Membrane Filtration Technology
2.9. Market Challenges
2.9.1. Time-Consuming Filter Validation Regulations
2.9.2. Stagnation In Innovation
2.9.3. Less Differentiation Amongst the Products
2.9.4. High Import Duties
3. Laboratory Filtration Market Outlook - By Product
3.1. Filtration Media
3.1.1. Membrane Filters
3.1.2. Filter Papers
3.1.3. Syringe Filters
3.1.4. Syringeless Filters
3.1.5. Capsule Filters
3.1.6. Filtration Microplates
3.1.7. Other Filtration Media
3.2. Filtration Assemblies
3.2.1. Ultrafiltration Assemblies
3.2.2. Microfiltration
3.2.3. Vacuum Filtration
3.2.4. Reverse Osmosis
3.2.5. Other Filtration Assemblies
3.3. Filtration Accessories
3.3.1. Filter Holders Media
3.3.2. Filter Dispensers
3.3.3. Filter Flasks
3.3.4. Cartridge Filters
3.3.5. Filter Funnel
3.3.6. Filter Housings
3.3.7. Filter Seals
3.3.8. Vacuum Pumps
3.3.9. Other Accessories
4. Laboratory Filtration Market Outlook - By Technology
4.1. Microfiltration
4.2. Nanofiltration
4.3. Vacuum Filtration
4.4. Ultrafiltration
4.5. Reverse Osmosis Technology
4.6. Other Technologies
5. Laboratory Filtration Market - Regional Outlook
Related Report:
Virus Filtration Market size & Forecast to 2026
Global virus filtration market is anticipated to reach USD 6 billion at a CAGR of 13.1% by 2026; as per new research report. The market is anticipated to witness a high growth rate over the forecast years owing to the expanding interest for natural items, for example, immunizations, therapeutic proteins, blood and related blood items, cell and quality treatment, tissue, and undifferentiated cell items is a central point driving industry development.
Rising prevalence of constant illnesses including malignancy, diabetes, and immune system issue are expected to fuel the market for virus filtration in biologics segment. As per the International Agency for Cancer Research, approximately 14.1 million new disease instances of growth were analyzed worldwide in 2012 and this number is anticipated to achieve 21.7 million by 2030.
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