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Laboratory Filtration Market worth $5.3 billion by 2026, at a CAGR of 8.3%

 



(AsiaNewsWire.Net, January 08, 2022 ) According to the new market research report “Laboratory Filtration Market by Product (Filtration Assembly, Filter Media Accessories), Technology (Ultrafiltration, Microfiltration, Nanofiltration, RO), End User (Pharmaceutical, Biopharmaceutical Company, F&B), Region – Global Forecast to 2025″, published by MarketsandMarkets™, the Laboratory Filtration Market is projected to reach USD 4.1 billion by 2025 from USD 2.5 billion in 2019, at a CAGR of 8.3%.



Browse in-depth TOC on “Laboratory Filtration Market“



169 – Tables



53 – Figures



221 – Pages



This study involved four major activities in estimating the current size of the laboratory filtration market. Exhaustive secondary research was carried out to collect information on the market and its peer markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.



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Growth in this market is driven majorly by the rising R&D spending in the pharmaceutical & biopharmaceutical industry, growing demand for membrane filtration technology, increasing purity requirements in end-user segments, and growing focus on developing large-molecule biopharmaceuticals. However, the high cost of systems is expected to restrain the growth of the lab filtration market to a certain extent during the forecast period.



COVID-19 impact on the Laboratory Filtration Market



COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks. With the World Health Organization (WHO) officially declaring the outbreak of COVID-19 a pandemic, a mix of established pharmaceutical and biopharmaceutical companies, as well as small startups, have stepped forward to develop treatments and vaccines that target the infection caused by the novel coronavirus.



The filtration media segment accounted for the largest share of the market, by product, in 2020:



Based on product, the market is segmented into filtration media (filter papers, membrane filters, syringe and syringeless filters, filtration microplates, and other filtration media), filtration assemblies (microfiltration assemblies, reverse osmosis assemblies, ultrafiltration assemblies, vacuum filtration assemblies, and other filtration assemblies), and filtration accessories (filter holders, filter funnels, filter flasks, membrane dispensers, filter housings, cartridges, vacuum pumps, seals, and other filtration accessories). The filtration media segment accounted for the largest market share in 2018. The major factors driving market growth in this segment are the wider application of filtration media in processes such as sterilizing, final filtration, sample preparation, filtration of aqueous & organic solutions, fluid monitoring, and venting & gas filtration, as well as the increasing R&D activities in the biopharmaceutical & pharmaceutical industries.



Pharmaceutical & biopharmaceutical companies are the largest end users of the lab filtration market



Based on end user, the market is segmented into pharmaceutical & biopharmaceutical companies, the food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutions. The pharmaceutical & biotechnology companies segment accounted for the largest market share in 2020. The high adoption of lab filtration in pharmaceutical & biotechnology companies for the development of large drug molecules accounts for the large share of this segment. Furthermore, increasing regulations for the manufacturing of defect-free end products will also drive focus on quality control measures in the pharmaceutical & biotechnology industry and, thereby, support market growth



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North America was the largest regional market for laboratory filtration in 2020.



The global laboratory filtration market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of 37.4% of the global laboratory filtration market, followed by Europe with a share of 30.0%. The large share of the North American region can be attributed to a large number of pharmaceutical & biotechnology and food & beverage companies in the region, the presence of a well-established healthcare market, and the stringent regulatory scenario in the pharmaceutical industry.



The prominent players in the market are Merck Millipore (US), Danaher Corporation (US), Sartorius AG (Germany), 3M Company (US), GEA GROUP AKTIENGESELLSCHAFT (Germany), Steris (US), Thermo Fisher Scientific (US), Veolia Water Technologies (France), Avantor, Inc. (US), GVS S.p.A (Italy), MANN+HUMMEL (Germany), Agilent Technologies, Inc. (US), Ahlstrom-Munksjö (Finland), MACHEREY-NAGEL GmbH & Co. KG (Germany), AMD Manufacturing, Inc. (Canada), Koch Membrane Systems (US), Cole-Parmer (US), AQUAPORIN A/S (Denmark), and Sterlitech Corporation (US).



Browse Adjacent Markets: Biotechnology Market Research Reports & Consulting



Browse Related Reports:



Pharmaceutical Membrane Filtration Market by Product (Filter, Systems), Technique (Microfiltration, Ultrafiltration), Material (PES, PVDF, PTFE, PCTE), Application (Final Product (Sterile), Raw Material (Bioburden), Cell Separation, Air) – Global Forecast to 2024



https://www.marketsandmarkets.com/Market-Reports/pharmaceutical-membrane-filtration-market-255408031.html



Hollow Fiber Filtration Market by Technique (Microfiltration, Ultrafiltration), Material (Polymer, Ceramic), Application (Harvest & Clarification, Concentration, Perfusion), End User (Pharmaceutical Manufacturer, CRO, CMO) – Global Forecast to 2023



https://www.marketsandmarkets.com/Market-Reports/hollow-fiber-filtration-market-267011039.html



About MarketsandMarkets™



MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.



MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



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