|DALLAS, September 25, 2014 /PRNewswire/ —
According to the new market research report “Laboratory Filtration Market by Technology (Ultrafiltration, Microfiltration, Reverse Osmosis), by Product (Filter Assembly, Filter Media), by Accessories (Dispenser, Seal, Filter Flask, Vacuum Pump) & by End-User – Global Forecasts to 2019“, published by MarketsandMarkets, the laboratory filtration market was valued at $1,804.9 Million in 2014 and is expected to grow at a CAGR of 7.0% from 2014 to 2019.
Browse 124 market data tables with 20 figures spread through 200 pages and in-depth TOC on“Laboratory Filtration Market”
Owing to the technological developments and increasing application of filtration technologies in pharmaceutical and biotechnological as well as food and beverage laboratories, the Laboratory Filtration Market registered a healthy growth rate during last decade. Laboratory filtration is extensively used for several applications including lab-scale DNA and protein separation and analysis, drug screening, cell culturing and examination and virus removal. Thus, increasing research activities in the biopharmaceuticals segment, and growing demand for biotech molecules for therapeutic and diagnostic applications had a positive impact on the growth of this market. Also, uptake of analytical instruments, along with stringent regulations controlling the quality of pure water used in laboratories is expected to drive the demand for lab filtration equipment in the coming years. However, intense price sensitivity among end users is likely to hinder the growth of the market to a certain extent.
In this report, the Laboratory Filtration Market is segmented by techniques, products, accessories, applications, geographic regions, and countries. It also discusses the key market drivers, restraints, and opportunities of this market and its sub-markets. The market was valued at $1,804.9 Million in 2014 and is expected to grow at a CAGR of 7.0% from 2014 to 2019.
In 2013, North America was the major leader with nearly 40% share of the global market, followed by Europe with nearly 35% share. The presence of large number of filtration products manufacturers in the North American and European region has led to their large market share in the Laboratory Filtration Market. However, the Asia-Pacific region represents the highest growth opportunity for the laboratory filtration market during the forecast period of 2014 to 2019. The APAC market is expected to grow at a CAGR of around 11% during the forecast period. The growth in this market is primarily driven by increased focus of healthcare and food and beverages industries on improving the quality of their manufacturing and research output.
The major players in the Laboratory Filtration Market include Pall Corporation (U.S.) and Merck Millipore (U.S.), GE Healthcare (U.S.), Sartorius Group (Germany), 3M Purification Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Cantel Medical Corp. (U.S.), and Sigma Aldrich Corporation (U.S.).