Laboratory Filtration Market: Microfiltration Technology Continues its Dominance the Market

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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.
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.
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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