Laboratory Filtration Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Laboratory Filtration Market: Overview
The laboratory filtration market has been estimated to grow at a significant speed during the forecast period. This market growth has been on the back of increased spending on R & D activities in the pharmaceutical and biopharmaceutical industry. In addition to this, rising concentration to develop large-molecule biopharmaceuticals, growing purity requirements in the end-user segments, and increasing demand for the membrane filtration technology is also contributing to the expansion avenues in the market in the years to come.
The pharmaceutical and biotechnology organizations use laboratory filtration products to make novel drugs. There has been a significant increase in the importance of drugs that are based on biotechnology. These biotechnology products are estimated to account for a significant share of the market portion in the forthcoming years.
Pharmaceutical companies are investing a handsome amount in R & D activities in order to deliver innovative and high-quality products in the global market. The manufacturers in the market are increasing research activities in order to get a heavy return on their investments in the longer run. The collaborative efforts for R & D activities have also been initiated by these market players.
Laboratory Filtration Market: Key Trends
The nanofiber coating technology has been developed newly in pharmaceutical filtration that provides greater durability, control, and flexibility compared to the conventional electrospinning process. These novel innovations have been made of fibers. The layer thickness and fiber diameter distribution can be changed easily according to the requirements of the application. The NANOWEB, an advanced nanofiber technology provides benefits in liquid and air filtration. It can be designed specifically in order to match the stringent requirements for filtration in different liquid applications. Further, it addresses the increasing requirement for advanced microfiltration and reverses ultrafiltration and osmosis in various liquid service applications such as process liquid filtration, food & beverage, and life sciences.
The end-users in the laboratory filtration market are encountering the cost contamination challenge, despite their increasing demand for technologically advanced and better products. This factor has increased pressure on the manufacturers in the market to provide quality products at reduced market rates. Furthermore, the increasing count of the R & D activities in the laboratory filtration market also increases the price of the products that is likely to curtail the growth impetus in the forthcoming years.
Laboratory Filtration Market: Competitive Dynamics and Key Developments
The key players serving in the laboratory filtration market are using various development strategies in order to bolster the growth opportunities in the forthcoming years. Some of these market strategies include acquisitions, mergers, innovations, partnerships, new product launches, geographical expansion, product approvals, and strategic collaborations that have been applied by the prominent companies to create expansion avenues in the market.
For instance, Koch Membrane Systems has acquired Eco-Tec Inc. in November 2019. Eco-Tec provides purification solutions and resource-recovery to different industries across the globe. The aim of this acquisition is to expand the existing capabilities of the company to provide some innovative solutions.
Some key players in the laboratory filtration market are:
Laboratory Filtration Market: Regional Assessment
The laboratory filtration market has been bifurcated into North America, Asia Pacific, Europe, the Middle East & Africa, and Asia Pacific. Among these geographical areas, the North America region has been projected to hold the maximum portion of the market share in the forthcoming years. This market growth can be attributed to the growing count of the food & beverages and pharmaceutical & biotechnology companies in this region. In addition to this, stringent regulatory scenarios and well-established healthcare in the pharmaceutical industry are also contributing to the market growth.
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