Valued to be $2.2 Billion by 2026, Laboratory Filtration Equipment Slated for Robust Growth Worldwide
SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Laboratory Filtration Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 17; Released: October 2021
Executive Pool: 412
Companies: 64 - Players covered include 3M Company; Agilent Technologies, Inc; Ahlstrom-Munksjo; AMD Manufacturing, Inc.; AQUAPORIN A/S; Avantor, Inc; Cantel Medical Corporation; Cole-Parmer North America; Cytiva; Danaher Corporation; Dow Water and Process Solutions; DuPont; GEA GROUP AKTIENGESELLSCHAFT; GVS S.p.A (Italy); Koch Membrane Systems; MACHEREY-NAGEL GmbH & Co. KG; MANN+HUMMEL; MilliporeSigma; Orbital Biosciences LLC; Porex Corporation; Sartorius AG; Sterlitech Corporation; Thermo Fisher Scientific; Veolia Water Technologies and Others.
Coverage: All major geographies and key segments
Segments: Type (Microfiltration, Ultrafiltration, Nanofiltration, Reverse Osmosis, Vacuum Filtration, Accessories); End-Use (Pharma & Biotech Companies, Food & Beverage, Hospitals & Diagnostic Laboratories, Academic & Research Institutes)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Laboratory Filtration Equipment Market to Reach US$2.2 Billion by the Year 2026
Laboratory filtration equipment is a small, yet significant part of the filtration equipment market, mainly consisting of microfiltration, ultrafiltration and reverse osmosis products. Laboratory filtration equipment enables sample clarification and particle sampling prior to analysis, sample sterilization, mobile phase filtration, and in membrane-based microbiology. Growth in the global market is set to be driven by the growing research and development activities in the areas of medicine and healthcare, and in biotechnology and pharmaceutical industries. Demand for filtration devices is increasing also by the need to make the products pure and safe with minimal risk of contamination. One of the major market drivers is the sustained growth of the pharmaceutical industry across the world. Laboratory filtration is extensively used to in the pharmaceutical industry to ensure purity and sterility of products in drug discovery and development, manufacturing, water purification, microbial analysis & removal, and life sciences research. Laboratory filtration equipment finds a wide a range of applications in the food & beverage industry, as a means to separate liquids from solids and to clarify liquid products. The continuous and rapid growth of the food and beverage industry in turn drives growth of the filtration equipment market. In addition, leading manufacturers are providing researchers and laboratories with easy and cost-effective filtration solutions that help maximize their efficiencies. Other key market drivers include advancements in filtration technology, requirements of higher purity of laboratory samples, and the increasing need for the development of large-molecule biopharmaceuticals.
Amid the COVID-19 crisis, the global market for Laboratory Filtration Equipment estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$2.2 Billion by 2026, growing at a CAGR of 7.7% over the analysis period. Microfiltration, one of the segments analyzed in the report, is projected to grow at a 7.7% CAGR to reach US$721.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ultrafiltration segment is readjusted to a revised 9.7% CAGR for the next 7-year period. This segment currently accounts for a 17.3% share of the global Laboratory Filtration Equipment market. Growing adoption of microfiltration is attributed to its high thermal stability and chemical resistance. Further, microfiltration allows high separation facility without the requirement of additional solvents, thus enabling easy implementation and operation of the technique. The growth of Ultrafiltration segment is driven by increasing R&D activities in the pharmaceutical industry and a wide range of application areas in the food & beverage sector. Moreover, the growing need for the manufacture of biotherapeutic molecules would also create increased demand for ultrafiltration filters over the coming years.
The U.S. Market is Estimated at $479.7 Million in 2021, While China is Forecast to Reach $246.6 Million by 2026
The Laboratory Filtration Equipment market in the U.S. is estimated at US$479.7 Million in the year 2021. The country currently accounts for a 32.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$246.6 Million in the year 2026 trailing a CAGR of 10% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.2% and 8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.8% CAGR while Rest of European market (as defined in the study) will reach US$269.1 Million by the end of the analysis period. North America leads in revenue generation from sales of equipment for laboratory filtration as most leading biotechnology and pharmaceutical companies are present in the region. Moreover, their growing focus on improving drug quality and preventing contamination during drug manufacturing has fueled the needs for such supplies and equipment.
Nanofiltration Segment to Reach $319.9 Million by 2026
Nanofiltration (NF), the lower pressure version of reverse osmosis, allows salts with only one negative charge to pass through the membrane, rejecting those that carry more than one negative charge. This form of filtration is quite popular in industries such as textile, sugar, diary, seawater desalination, and food and beverage. The process eliminates dissolved particles of size greater than 500amu, and is specifically suited to treat well water or water from surface supplies such as rivers or lakes. In the global Nanofiltration segment, USA, Canada, Japan, China and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$173.9 Million in the year 2020 will reach a projected size of US$273.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$33.6 Million by the year 2026, while Latin America will expand at a 8.1% CAGR through the analysis period. More
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