Laboratory Filtration Market Revenues to Reach USD 4.96 billion by 2028

Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Laboratory Filtration Market Report (2023-2028),” the market is estimated at USD 3.52 billion in 2023. It is expected to register a CAGR of 7.12% during the forecast period.

The mounting demand for vaccine development and manufacturing during the pandemic increased the adoption of laboratory filtration. Laboratory filtration equipment is essentially required for carrying out vaccine filtration procedures. Hence, such an increase in initiatives favoring vaccinations is anticipated increase vaccine production, which in turn may propel the demand for laboratory filtration.

Report Summary:

Report Attribute

Details

Market Size (2023)

USD 3.52 billion

Market Size (2028)

USD 4.96 billion

CAGR (2023-2028)

7.12%

Study Period

2018-2028

Forecast Units

Value (USD billion)

Fastest Growing Market

Asia -Pacific

Largest Market

North America

Report Scope

Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends

Key Market Drivers

The launch of new, transforming, and innovative technology in lab filtration.

An increase in initiatives favoring vaccinations.

Who are the Top Companies in the Laboratory Filtration Market?

The global laboratory filtration market’s competition is set to intensify. Several key players are focusing on the expansion of their laboratory filtration portfolio via acquisition and collaboration with companies.

The noteworthy players holding the global laboratory filtration market are:

3M

Merck KGaA

Danaher Corporation (Pall Corporation)?

Sartorius Group

GVS SpA

Cole-Parmer Instrument Company LLC

Agilent Technologies Inc.

Ahlstrom-Munksjo

Abcam PLC

Purolite

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Key Highlights from the Laboratory Filtration Market Report:

Ultrafiltration Segment is Expected to Record Significant Adoption

Ultrafiltration separates extremely small particles and dissolved molecules from liquids. In order to be separated by ultrafiltration, molecules must differ in size by at least an order of magnitude and have a molecular weight between 1 kDa and 1000 kDa. Ultrafiltration membranes can be employed to cleanse the filtrate or collect the retentate.

The benefits and wide applicability of ultrafiltration, such as protein purification and isolation, vaccine manufacturing, and increased investments in research and development, are the crucial drivers for segment growth.

United States Expected to Hold Major Share

North America is anticipated to witness substantial growth over the forecast period. The increase is due to expanding research work and rising investments in research and development by the public and private sectors.

The key product launches, the high concentration of market players or the manufacturer’s presence, and acquisition & partnerships in the region are the major drivers for the market. Additionally, intensified investments by biopharmaceutical companies in R&D in the United States are also driving the growth of the laboratory filtration market in the country.

What are the Latest Developments in the Laboratory Filtration Market?

In September 2022, Pall Corporation introduced three new Allegro Connect Systems to support Depth Filtration, Virus Filtration, and Bulk Fill of drug substances, and a Buffer Management System to simplify the creation of manufacturing workflows.

In April 2022, Eaton extended its range of filter media containing activated carbon. The improved BECO CARBON depth filter sheets offer remarkably high adsorption properties for the demanding filtration of liquids.

Mordor Intelligence has Segmented the Laboratory Filtration Market Based on Technology, Product, and Geography:

By Technology

Microfiltration

Ultrafiltration

Reverse Osmosis

Vacuum Filtration

Nanofiltration

By Product

Filtration Media

Membrane Filters

Filter Papers

Filtration Microplates

Syringeless Filters

Syringe Filters

Capsule Filters

Filtration Assemblies

Microfiltration Assemblies

Ultrafiltration Assemblies

Vacuum Filtration Assemblies

Reverse Osmosis Assemblies

Nanofiltration Assemblies

Filtration Accessories

By Geography

North America

United States

Canada

Rest of North America

Europe

United Kingdom

Germany

France

Italy

Spain

Rest of Europe

Asia-Pacific

China

India

Japan

Australia

South Korea

Rest of Asia-Pacific

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

South Africa

GCC

Rest of Middle East & Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Laboratory Filtration Market Report (2023-2028).

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About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

Attachment

Laboratory Filtration Market - Mordor Intelligence