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Stable Growth Predicted in Laboratory Filtration Market in Coming Years

The food & beverages industry is expected to grow at a considerable pace in the years to come, which is because of the changing consumer preferences, strong economic growth in emerging economies, and rapid urbanization. In addition to this, fast food and processed food items are becoming increasingly popular across the globe. The industry deals with the sensitive production processes and therefore needs to take utmost care when it comes to the safety of food. In order to ensure that different food and beverage items are free from contaminants and fit for consumptions, the industry makes extens

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Stable Growth Predicted in Laboratory Filtration Market in Coming Years

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  1. Laboratory Filtration Market Driven by Expanding Food and Beverage Industry 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. The growth of the laboratory filtration market is driven by the rising adoption of the filtration method in the food and beverage industry and clinical laboratories, surging research and development (R&D) initiatives by pharmaceutical companies, and launch of advanced products by players. As a result, the industry, which valued $2.3 billion in 2017, is projected to reach $3.5 billion by 2023, at a 7.3% CAGR during the forecast period (2018–2023). Filtration assemblies, filtration accessories, and filtration media are the various categories on the basis of product. Among these, the filtration media category is expected to generate the highest revenue in the laboratory filtration market in 2023, of $1,438.3 million. Filtration media further includes filter papers, membrane filters, syringe filters, filtration microplates, syringeless filters, capsule filters, and others. Among these, the membrane filters division is set to grow at the highest CAGR, of 7.5%, during the forecast period. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/laboratory- filtration-market/report-sample The fastest growth, at a 7.7% CAGR, during the forecast period, would be witnessed in the filtration assemblies category. The filtration assemblies division further has the ultrafiltration, microfiltration, vacuum filtration, reverse osmosis, and others subcategories. Among these, the microfiltration subcategory accounted for the largest share, of 37.2%, in the laboratory filtration market in 2017. This is majorly ascribed to the vast usage of the microfiltration method in industries, which has led to an increasing demand for the various products used during the process. The market, based on technology, is classified into vacuum filtration, ultrafiltration, microfiltration, nanofiltration, reverse osmosis, and others. Among these, the microfiltration classification dominated the market in 2017, with a share of 35.3%, in terms of value. The increasing demand for biologic and generic drugs and bettering healthcare infrastructure are driving the demand for microfiltration solutions. During the forecast period, the fastest growth is expected to be seen in the nanofiltration classification, with a CAGR of 10.4%. A key driver for the laboratory filtration market is the increasing demand for microfiltration solutions across end-use industries. The technology offers better results during the clarification, concentration, purification, and fractionation processes, which is why the demand for it is rising in the food and beverage industry. As microfiltration enhances the quality of products, it is vastly utilized during the manufacturing of beverages. With a higher purchasing power, people are increasingly spending on soft drinks, canned milk-based beverages, and various liquors. 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. The introduction of more-efficient, cost-effective, and technologically advanced products also has an important role to play in the advance of the industry. For instance, membrane filters are being used to trap particulate matter, which has become vastly important in this era of alarming air pollution levels. Be it developing countries or developed countries, air pollution is a common and grave problem, owing to the burning of fossil fuels in vehicles, power plants, industries, and houses. Another application of membrane filters is water microbiology, especially at water and wastewater treatment plants. The fastest growth is projected to be witnessed by the laboratory filtration market in Asia-Pacific (APAC) over the forecast period. The healthcare expenditure, prevalence of chronic diseases, and rising production of drugs and other pharmaceutical products are driving the industry in the region. In 2017, the regional market was dominated by Japan, majorly on account of it being a significant pharmaceutical producer. As per the data the International Trade Administration based on the statistics of the Japanese Ministry of Health, Labor and Welfare, the country’s non-prescription and prescription pharmaceutical market valued $88 billion in 2015. Hence, the growing food and beverage and pharmaceutical industries will keep resulting in the increasing demand for laboratory filtration products. The research offers market size of the global laboratory filtration market for the period 2013– 2023. Market Segmentation by Product Filtration Media • oMembrane Filters oFilter Papers oFiltration Microplates oSyringe Filters oCapsule Filters oSyringeless Filters oOthers Filtration Assemblies • oMicrofiltration oUltrafiltration oReverse Osmosis oVacuum Filtration oOthers Filtration Accessories • 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. oFiltration Holders oFilter Flasks oFilter Funnels oFilter Dispensers oCartridge Filters oFilter Housings oVacuum Pumps oSeals oOthers Market Segmentation by Technology Microfiltration Ultrafiltration Reverse Osmosis Nanofiltration Vacuum Filtration Others Market Segmentation by Geography North America Laboratory Filtration Market • • • • • • • oBy Product oBy Technology oBy Country U.S. Laboratory Filtration Market By Product By Technology Canada Laboratory Filtration Market By Product By Technology Europe Laboratory Filtration Market ▪ ▪ ▪ ▪ ▪ ▪ • oBy Product oBy Technology oBy Country Germany Laboratory Filtration Market By Product By Technology U.K. Laboratory Filtration Market By Product ▪ ▪ ▪ ▪ ▪ 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. By Technology ▪ Asia-Pacific (APAC) Laboratory Filtration Market • oBy Product oBy Technology oBy Country Japan Laboratory Filtration Market By Product By Technology China Laboratory Filtration Market By Product By Technology Latin America (LATAM) Laboratory Filtration Market ▪ ▪ ▪ ▪ ▪ ▪ • oBy Product oBy Technology oBy Country Brazil Laboratory Filtration Market By Product By Technology Middle East and Africa (MEA) Laboratory Filtration Market ▪ ▪ ▪ • oBy Product oBy Technology oBy Country South Africa Laboratory Filtration Market By Product ▪ ▪ 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  6. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 6 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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