The global laboratory filtration market is significantly growing at 7.7% CAGR owing to the increased expenditure on research and development activities in the pharmaceutical and biotech industry, rising demand for membrane filtration technology, mounting purity requirements in industry verticals, and rising emphasis on developing large-molecule biopharmaceuticals. In addition, the formation of favorable government regulations and digitalization will propel the growth of the market.
Nevertheless, the rising opportunities in emerging economies and development in nanofiber technology are promising opportunities for industry players in the global laboratory filtration market.
The widely adopted filtration processes include liquid monitoring, sterilization, gas, and vent filtration that will attribute for the growth of the laboratory filtration market. The COVID-19 outbreak has had a positive impact on the global laboratory filtration market as it is widely adopted in clinical laboratories to filter the virus and bacteria and develop a vaccine.
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Based on product, filtration media dominates the market owing to the increasing adoption of filtration media in processes like sterilizing, final filtration, sample preparation, fluid monitoring, venting & gas filtration.
North America dominates the laboratory filtration market followed by Europe owing to the presence of major manufacturers in North America and the European region. The well-established laboratories, stringent regulation in the pharmaceutical industry, and increasing government funds and investment for R&D activities will further bolster the growth of the laboratory filtration market in the region.
Sartorius Group acquired Danaher Life Sciences to expand its businesses by adopting of TFF and stainless steel hollow TFF.
Thermo Fisher Scientific Co. has set up a new laboratory in North America in 2019. The facility is equipped with the latest and smart technology and can develop and access products in less time, thereby the company is expanding its product portfolio and are conducting filtration studies.
The prominent players in the laboratory filtration industry include GE Healthcare, Merck Millipore, 3M Company, Thermo Fisher Scientific, Inc., Danaher Corporation, Macherey–Nagel Gmhb & Co. Kg, and Sartorius Group.
Source: VynZ Research