Laboratory Filtration Market Size, Segment Analysis, Growth Drivers and Forecast Report by 2023

In 2017, the laboratory filtration market generated $2.3 billion and is expected to register a 7.3% CAGR during the forecast period (2018-2023). This is due to the surging adoption of filtration products in clinical laboratories, rising usage of laboratory filtration products in the food & beverage industry, increasing research & development activities in the pharmaceutical & biopharmaceutical industry, and introduction of technologically advanced products. Filtration systems are utilized for separating solids from fluids by adding a medium through which only the fluids can pass and the particles are retained in the filter.

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When product is taken into consideration, the laboratory filtration market is categorized into filtration accessories, filtration media, and filtration assemblies. Out of these, the filtration media category dominated the market during the historical period (2013-2017) and is further projected to account for the major share of the market during the forecast period. The category is further divided into filter papers, syringe filters, syringeless filters, membrane filters, filtration microplates, capsule filters, and others. The filtration accessories category is predicted to grow at the fastest pace during the forecast period.

On the basis of technology, the laboratory filtration market is divided into nanofiltration, ultrafiltration, microfiltration, vacuum filtration, reverse osmosis, and others (which include centrifugal filtration, gravity filtration, and wine filtration technology). Among these, the microfiltration division dominated the market during the historical period, accounting for a share of 35.3% in 2017. The fastest growth is expected to be witnessed by the nanofiltration division during the forecast period. The reason for this is the improvement in the healthcare infrastructure and increasing requirement for generic and biological drugs.

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The increasing research activities in pharmaceutical and biopharmaceutical industry is also driving the growth of the laboratory filtration market. In the industry, filtration is an important treatment process for the removal of pathogenic organisms and prevention of water-borne diseases. Companies in the industry are engaged in research activities for the development of drugs which primarily utilize filtration products that can deal with water-borne diseases. Parallel microfiltration is a new method for providing better treatments for a number of diseases including cancer.

Hence, the market is growing due to the increasing usage of filtration in the food & beverage industry and clinical laboratories and rising research activities in pharmaceutical and biopharmaceutical industry.

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This release was published on openPR.