CHICAGO, Nov. 15, 2021 /PRNewswire/ -- According to the new market research report "Laboratory Filtration Marketby Product (Filter Media, Filtration Assembly, Accessories), Technology (Ultrafiltration, Microfiltration, Nanofiltration, Reverse Osmosis), End User (Pharma, Biopharma, F&B, Academic institutes) - Global Forecast to 2026", published by MarketsandMarkets™, the global Laboratory Filtration Market is projected to reach USD 5.3 billion by 2026 from USD 3.6 billion in 2021, at a CAGR of 7.8% from 2021 to 2026.
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Laboratory filtration is widely used in the biopharmaceutical, food & beverage, and environmental industries. Also, laboratory filtration is regarded as an important quality assurance measure by regulatory bodies, which is an important contributor to the growth of the market. The other factors driving the growth of this market include the increasing purity requirements in end-user segments and the growth of the biopharmaceutical industry.
The microfiltration segment accounted for the largest share of the technique segment in the laboratory filtration market in 2020
Based on technique, the market is segmented into microfiltration, ultrafiltration, reverse osmosis, vacuum filtration, and nanofiltration. The microfiltration segment accounted for the largest share in 2020, while the ultrafiltration segment is projected to witness the highest growth during the forecast period. Rising R&D activities in the pharma industry and wide applications in the food & beverage industry are the key factors boosting segmental growth. Growing R&D expenditures on biotherapeutic molecules are also expected to drive the demand for ultrafiltration filters in the coming years.
By end user, pharmaceutical & biotechnology companies accounted for the largest market share in 2020
Based on end user, the laboratory filtration market is segmented into pharmaceutical & biopharmaceutical companies, the food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutions. In 2020, the pharmaceutical & biotechnology companies segment accounted for the largest share of the market. The large share of this segment can be attributed to the higher adoption of laboratory filtration products due to the stringent regulatory scenario as compared to other end users such as food & beverage companies. Furthermore, growing research towards the development of biological molecules and increasing manufacturing of generics in developed countries will also drive market growth over the forecast period.
North America dominates the market in 2020.
North America accounted for the largest share of the market. The growth of the market in North America is mainly driven by the 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).
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