Laboratory Filtration Market Size To Reach USD 4.06 Billion By 2026 | Reports And Data

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Reports And Data

Market Size – USD 2.35 Billion in 2018, Market Growth – CAGR of 7.1%, Market Trends – Product launches and research for advanced filtration options.

NEW YORK, NY, UNITED STATES, January 5, 2022 /EINPresswire.com / — According to the current analysis of Reports and Data, the global laboratory filtration market was valued at USD 2.35 billion in 2018 and is expected to reach USD 4.06 billion by the year 2026, at a CAGR of 7.1%. Filtration and separation technology all around the world is widely used in modern industrialized countries and is rapidly being applied in developing countries as well. Filtration is an initial and essential process in pharmaceutical, and bio scientific laboratory applications. Filtration is also important and widely used as one of the unit operations of pharmaceutical technology. It may be simultaneously combined with other unit operations to process the feed stream, as in the bio-filter, which is a combined filter and biological digestion device. Filtration is a technique that is used to separate solids from liquids or solution by interposing a filter medium through which solutions or liquids can pass.

Growing research activities in pharmaceutical and biopharmaceutical industries and increasing usage of filtration products are contributing to the growth of the laboratory filtration market. Lab filters have vast applications in different fields of the industry, from healthcare to food and beverage industry. Clinical research in pharmaceutical companies and scientific institutions are resulting in the development of new medicines, which is also supporting the market growth positively. Technological advances have been significantly improving for decades, and the trend is expected to continue further. As computer circuits are grown smaller and smaller while increasing in processing power, the need and surge for filtration and separation technologies to gather the pace and become increasingly more sophisticated.

Rise in population growth will increase demand, which will require increased production and increases in manufacturing efficiency for industrial products, foods and beverages, transportation, and infrastructure. Laboratory Filtration solutions are used in procedures such as drug screening, DNA and protein separation, cell culture, and filtration processes. Flourishing biopharmaceutical research activities and the desire for rapid drug commercialization are the prime drivers of the laboratory filtration market. Transformative advances in healthcare in recent years are allowing people to live longer, healthier, and more productive lives. A part of this process will be advanced in diagnostic and drug therapies, which utilize filtration and separation technologies, and moreover, an increased focus on a cleaner environment and all natural and pure consumables, which utilize filtration and separation rather than chemical technologies to make products safe and pure. The increasing widespread of chronic diseases has resulted in demand for filtration products to hasten the manufacturing process of the drug required for the treatment. However, shortage of skilled professionals, high cost of filters, non-adoption, and environmental concern associated with it are some of the possible restraints of the lab filtration market during the forecast period.

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The report is formulated through exhaustive primary and secondary research which is verified and validated by industry experts, research analysts, and professionals. The report aims to help readers and users improve their business performances by providing insightful data about business sphere such as recent technological development, product advancements, and adoption of strategic business steps. The report also offers extensive analysis of the competitive landscape along with business overviews, expansion plans, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships among others.

Top Companies in the Market Include:

Sigma-Aldrich, Merck Millipore, Thermo Fisher Scientific, GE Healthcare, 3M Purification, Inc., Sartorius Group, Macherey-Nagel GmbH & Co. KG., Cantel Medical Corporation and Veolia Water Technologies

Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma & healthcare industry is the rapid integration of artificial intelligence in key areas such as R&D, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.

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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered. The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Laboratory Filtration market.

Further key findings from the report suggest

•Laboratory Filtration market is growing at a CAGR of 5% in Asia-Pacific followed by North America & Europe, with 7.0% and 6.9% CAGR, respectively.

•Currently, North America dominates the market for Laboratory Filtration, followed by Asia-Pacific and then Europe. Not much increase in the share of regions of MEA & Latin America is expected in the forecast period.

•Growing research activities in pharmaceutical and biopharmaceutical industries and increasing usage of filtration products are also contributing to the growth of the laboratory filtration market. Clinical research in pharmaceutical companies and scientific institutions are resulting in the development of new medicines, which is also helping the market growth.

•Filtration technology is a lively dynamic field where academic centers, corporate R&D labs and government research provide highly innovative developments. These factors are expected to boost the market positively during the forecast period.

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For the purpose of this study, Reports and Data have segmented the laboratory filtration market on the basis of technology, product, end-use and region:

Technology (Revenue in USD Million; 2016–2026)

•Microfiltration
•Reverse Osmosis
•Ultrafiltration
•Vacuum Filtration
•Nanofiltration

Product Type (Revenue in USD Million; 2016–2026)

•Filtration Assemblies
oMicrofiltration Assemblies
oReverse Osmosis Assemblies
oUltrafiltration Assemblies
oVacuum Filtration Assemblies
oOthers
•Filtration Media
oFilter Papers
Cellulose Filter Papers
Glass Microfiber Filter Papers
Quartz Filter Papers
oMembrane Filters
oSyringe Filters
oSyringeless Filters
oCapsule Filters
oFiltration Microplates
oOthers
•Filtration Accessories
oFilter Holders
oFilter Funnels
oFilter Dispensers
oFilter Flasks
oFilter Housings
oCartridges
oVacuum Pumps
oSeals
oOther Accessories

End Use (Revenue in USD Million; 2016–2026)

•Pharmaceutical & Biopharmaceutical Companies
•Academic & Research Institutes
•Food & Beverage Companies
•Hospital & Diagnostic Laboratories

Key Regions Studied in the Report:

•North America (U.S., Canada, Mexico)
•Europe (U.K., Italy, Germany, France, Rest of Europe)
•Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
•Latin America (Chile, Brazil, Argentina, Rest of Latin America)
•Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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