Press release
Laboratory Water Purifier Market Projected to Exhibit Growth at 11.9% CAGR by 2031- TMR Study
Laboratory water purifier primarily includes three parts; a pre-treatment unit, RO reverse osmosis unit, and a post-purification unit. High-purity water is needed for clinical biochemistry applications and clinical diagnostics. Rise in number of research institutes, biotechnology and pharmaceutical organizations, and academic institutions all over the world is projected to augment market dynamics in the near future.
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Analysis of Key Players
According to the laboratory water purifier market forecast report, leading players are adopting various strategies including new product development, investment in R&D, product expansions, and mergers & acquisitions.
The market is highly competitive, with the presence of various global and regional players controlling majority of the laboratory water purifier market share. Aqua Solutions, Inc., Chengdu Ultrapure Technology Co., Ltd., ELGA Labwater Global Operations, Evoqua Water Technologies LLC, Labconco Corporation, Merck KGaA, Pall Corporation, Purite Ltd, Sartorius AG, Thermo Fisher Scientific Inc. are the prominent entities profiled in the laboratory water purifier market.
Growth in Pharmaceutical Sector
Rise in demand for water purifiers in end-use industries including pharmaceutical companies, research laboratories, biotech institutions, and academic research centers is driving the global market.
Pharmaceutical is one of the fastest-growing industries across the world. The pharmaceutical sector continues to rise up to the new challenges presented by the COVID-19 pandemic. This sector is highly dependent on research and development. Key players in the sector invest more than 20% of their sales revenues in R&D projects. Discovery & development of new drugs is vital for the continued growth of the pharmaceutical sector. This fuels demand for efficient water purification systems for laboratory work.
The market has been witnessing significant growth for the last two decades. The pharmaceutical sector in Europe and North America is likely to grow during the forecast period, owing to the presence of major pharma companies in these regions. Furthermore, R&D activities are increasing in Asia Pacific due to investments by government and private organizations. This is contributing to the growth of the pharma industry in the region, which further fuels the demand for laboratory water purifiers.
Expansion in Clinical Biochemistry and Biotechnology Sectors
As per the latest laboratory water purifier market trends, growth in biochemistry and biotechnology industries is expected to fuel market statistics during the forecast period. Demand for water purification systems is rising in biotechnology companies. Biotechnology companies work on research and development activities on living organisms or cells to produce new products. It is extremely essential to use pure water for a wide range of applications in clinical biochemistry and biotechnology research and analysis. Some of the applications include protein analysis, biochemical tests, cell culture, and chromatography.
If water is not pure, clinical biochemical analysis experiments could give inaccurate results due to contamination of microorganisms and inorganic ions. Therefore, water purifiers are used to eliminate impurities and contaminants from water in various biochemistry and biotechnology applications.
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Regional Outlook of Global Laboratory Water Purifier Business
According to the latest laboratory water purifier market analysis, Asia Pacific is anticipated to dominate the global market during the forecast period. Rise in investment in pharmaceutical and healthcare sectors by China and Japan is augmenting the laboratory water purifier industry growth. Increase in R&D activities in India to support the development of environmental labs that work on environmental issues further drives market expansion.
The laboratory water purifier market demand is increasing in North America. The U.S. is a key market for laboratory water purifiers in North America. Rise in number of key manufacturers in the region along with increase in health awareness among consumers is contributing to the laboratory water purifier market progress.
The laboratory water purifier market size in Europe is likely to increase in the near future, owing to lucrative presence of regional players, rise in investment in technology, and increase in awareness about innovative products.
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