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The Laboratory Filtration Market size is estimated to grow by USD 1.73 billion at a CAGR of 8.18% between 2023 and 2028.
There has been a rising demand for R&D due to high government healthcare expenditure. The capacity to obtain an enriched population of small molecules, cells, proteins, nucleic acids, or clean solutions is important in all applications, from small laboratory studies to large-scale production of pharmaceutical products. In addition, complying with government regulations regarding the purity and consistency of pharmaceutical products requires a well-thought-out enrichment plan and filtration system. Several pharmaceutical filter system companies are investing heavily in R&D. For instance, on average, a pharmaceutical company spends around 15%-20% of its revenue on R&D purposes. Hence, such factors are positively impacting the market.
Technavio has segmented the market into Technique, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The microfiltration segment is estimated to witness significant growth during the forecast period. Microfiltration can be referred to as a technique used in the pharmaceutical industry for various applications including purification, separation, and sterilization processes. In addition, it includes the use of membranes with specific pore sizes to remove particles, microorganisms, and other impurities such as residual metals, inorganic salts, filter aids, or charcoals that are not required in the laboratory filtration process.
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The microfiltration segment was the largest segment and was valued at USD 993.49 million in 2018. Moreover, the main advantage of this segment is that it removes particles and microorganisms from particle fluids such as liquid formulations, suspensions, and biological solutions. In addition, it helps ensure product quality, safety, and efficacy by reducing the microbial load and removing any visible or sub-visible drug particles. Furthermore, microfiltration is used in many processes, from dialysis to desalination processes to sterile filtration in the pharmaceutical industry. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
This segment comprises the use of laboratory filtration in research and development (R&D) laboratories and quality testing laboratories in the pharmaceutical industries, biotechnology industries, and contract research organizations (CROs). In addition, R&D laboratories extensively use laboratory filtration for drug discovery, drug designing, drug formulations, and preclinical and clinical research workflows. Moreover, quality testing laboratories use laboratory filtration to ensure the safety and quality of final products and manufacturing processes. Furthermore, there is demand for rapid, precise, and validated testing procedures is increasing across the pharmaceutical segment, due to significant growth in demand for the development of new drug formulations and vaccines, gene therapies, biosimilars, and precision medicines. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the main factors that are contributing to the growth of the market in North America are the growing value of the US pharmaceutical exports, increasing healthcare spending, the rising aging population, increasing demand for advanced filter products in the pharmaceutical industry, improvement in healthcare facilities, and rising R&D in the US and Canada. Moreover, in the US, government initiatives to support the adoption of manufacturing technologies encourage the growth of the laboratory filtration market. Furthermore, the government initiatives to expand the pharmaceutical industry are expected to fuel the development of the laboratory filtration market. Hence, such factors are driving the market in North America during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global laboratory filtration market witnessed a significant high due to an increase in demand for various pharmaceuticals used to treat COVID-19 which in turn led to a higher-than-usual demand for laboratory filtration equipment.in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in pharmaceutical industries. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
3M Co: The company offers laboratory filtration products such as 3M Filtrete Water Filtration Existing Faucet Filter System and 3M Filtrete Maximum Replacement Water Filter.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
A key factor shaping the laboratory filtration market growth is the increasing number of US FDA-approved manufacturing facilities. One of the primary trends in the global laboratory filtration market is the increasing number of US FDA-approved manufacturing facilities in developing markets such as India and China. In addition, China and India are the two leading countries in the global laboratory filtration market.
Moreover, India, with approximately 400 US FDA-approved manufacturing facilities, is one of the most preferred countries for the outsourcing of pharmaceutical manufacturing services. In addition, India also holds the second-highest number of facilities for formulations, with approximately 147 in the country. Furthermore, the market is also witnessing an increase in the approval of manufacturing facilities in emerging countries such as China, India, Mexico, and Brazil. Hence, such factors are driving the market growth during the forecast period.
The risk of counterfeiting in laboratory filtration is one of the key challenges hindering the market growth. The risk of counterfeiting is significantly high in the supply chain of pharmaceutical products. In addition, counterfeit drugs can be a threat to consumer lives. Furthermore, these can also financially impact pharmaceutical vendors.
Moreover, the after-effects of counterfeit drugs can negatively affect a brand's reputation. In addition, the global pharmaceutical supply chain is complex, with many intermediaries. Therefore, the original product could be stolen or replaced with a fake one. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Laboratory Filtration Market Customer Landscape
The laboratory filtration market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Laboratory Filtration Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.18% |
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Market Growth 2024-2028 |
USD 1.73 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.14 |
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Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
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Performing market contribution |
North America at 42% |
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Key countries |
US, Canada, Germany, China, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Advanced Micro Devices Inc., Agilent Technologies Inc., Ahlstrom Holding 3 Oy, Antylia Scientific, AQUAPORIN AS, Avantor Inc., Danaher Corp., GEA Group AG, GVS S.p.A., Koch Industries Inc., MACHEREY NAGEL GmbH and Co. KG, MANN HUMMEL International GmbH and Co. KG, MarathonLS, Merck KGaA, Sartorius AG, STERIS plc, Sterlitech Corp., Thermo Fisher Scientific Inc., and Veolia Environnement SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technique
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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