The global laboratory filtration market is expected to reach USD 2.89 Billion by 2021, at a CAGR of 7.2% from 2016 to 2021. This report studies the laboratory filtration market over the forecast period of 2016-2021. In this report, the laboratory filtration market is segmented by technology, product, end user, and geographic region. It also discusses the key market drivers, restraints, challenges, and opportunities of this market and its submarkets.
Owing to the technological developments and increasing application of filtration technologies in pharmaceutical and biotechnological as well as food & beverage laboratories, the laboratory filtration market registered a healthy growth rate during the last decade. Laboratory filtration is extensively used for several applications including lab-scale DNA and protein separation and analysis, drug screening, cell culturing, and virus removal. Thus, increasing research activities in the biopharmaceuticals segment, and growing focus on development of biopharmaceutical molecules is boosting the growth of this market. However, stringent government regulations for validation of filtration processes and requirement of huge capital investments for setting up production facilities are expected to hinder the growth of laboratory filtration market during the forecast period.
In 2015, North America accounted for the largest share of the global laboratory filtration market, followed by Europe and Asia-Pacific. The presence of large number of filtration products manufacturers in the North American and European region has led to their large market share in the laboratory filtration market. However, the Asia-Pacific region represents the highest growth opportunity for the laboratory filtration market during the forecast period of 2016 to 2021. The growth in this market is primarily driven by increased focus of healthcare and food and beverage industries on improving the quality of products and research output.
The major players in the laboratory filtration market include Merck Millipore (U.S.) and Pall Corporation (U.S.), GE Healthcare (U.S.), Sartorius Group (Germany), 3M Purification Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Cantel Medical Corp. (U.S.), and Sigma-Aldrich Corporation (U.S.).
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