The global laboratory filtration market
is projected to grow at a CAGR of 7.2% during the forecast period of
2016-2021. The stringent purity requirements in the end-user markets and
increase in R&D activities in the life sciences, pharmaceutical,
and biopharmaceutical industries are fuelling the growth of the
laboratory filtration market. Moreover, increasing focus towards the
development of biopharmaceutical molecules and the rising application of
filtration techniques in this industry is also contributing to the
growth of the laboratory filtration market during the forecast period.
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In the products market, filtration media accounted for the largest share
of global laboratory filtration market. Being a consumable in
filtration assemblies, the filtration media market is expected to grow
at a relatively higher CAGR as compared to the market for filtration
assemblies and accessories.
In the technologies market, microfiltration accounted for the largest
share of the total laboratory filtration market in 2015. The wide
application of microfiltration in laboratories for purification and
concentration of enzymes, albumin & plasma purification, vaccine
& antibiotic processing, and the removal of pyrogens from water are
driving its market growth. The use of microfiltration is also increasing
in food & beverage companies owing to the strict regulations by
government bodies for assured purity of products. The market for
ultrafiltration technology is estimated to grow at the highest rate of
the total laboratory filtration market during the forecast period of
2016 to 2021.
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Geographically, in 2015, the global laboratory filtration market was
dominated by North America primarily due to the presence of major
laboratory filtration companies in the U.S. The Asia-Pacific market is
estimated to register the highest CAGR during the forecast period. With
its thriving economies, rapidly expanding population, and growth in
research activities and pharmaceutical manufacturing, Asia-Pacific forms
one of the fastest-growing markets for laboratory filtration products.
Rapid technological growth in China and Singapore are also expected to
boost the laboratory filtration market in Asia-Pacific.
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