Laboratory Filtration Equipment and Supplies Market Value Will Exhibit a Nominal Uptick in 2020 as Corona Virus Outbreak Prevails as a Global Pandemic, Says FMI in a Revised Report
VALLEY COTTAGE, N.Y. – The ultrafiltration technique is becoming a preferred choice among end users in the laboratory filtration equipment and supplies market. Recent improvements in cartridge configurations and varied membrane types have enhanced the technical reliability for large volume applications such as industrial waste water treatment and surface water treatment.
A new report by Future Market Insights (FMI) presents a comprehensive revenue assessment of the global laboratory filtration equipment and supplies market and throws light on the various factors influencing growth in sales of laboratory filtration equipment and supplies. The study further highlights various developments among the leading players operating in the laboratory filtration equipment and supplies market.
Key Developments in the Laboratory Filtration Equipment and Supplies Market
- In 2018, Merck, a Germany-based manufacturer of laboratory filtration equipment and supplies, launched a user-friendly single-use flow filtration device that reduces the risk of cross-contamination in products and prevents exposure to toxic compounds
- Dow Chemicals launched ultrafiltration modules that reject particulates that are 0.03 microns and above. This equipment is frequently used in industrial water pre-treatment, as well as in wastewater and water reuse systems
- Hungerford & Terry, a provider of water treatment systems, has collaborated with Dow Chemicals to launch ultrafiltration products such as ultrafiltration membranes, hollow fibre, etc.
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These developments are expected to positively impact growth of the global laboratory filtration equipment and supplies market.
Increasing Adoption in DNA Analysis and Drug Screening Processes to Drive Revenue in the Laboratory Filtration Equipment and Supplies Market
On the basis of end use, the laboratory filtration equipment and supplies market is segmented into food & beverage companies, pharmaceutical & biotechnology companies, hospital & diagnostic laboratories, and academic & research institutes. Filtration equipment is gaining traction and is used during the process of drug screening and DNA analysis as these processes require high purity and sterility. Manufacturers in the laboratory filtration equipment and supplies market are focussing on offering upgraded laboratory filtration equipment and supplies for various applications such as insulin pumps, patient monitors, dialysis machines, and others. This equipment is also used during the purification of DNA, RNA, oligonucleotides, as well as in the preparation of complex drugs.
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Multiple Applications of Laboratory Filtration Equipment and Supplies Across Diverse Industry Verticals
Manufacturers of laboratory filtration equipment and supplies have started offering industry and application specific devices to cater to the growing needs of industries such as pharmaceuticals and food and beverages. While pharmaceutical and biotechnology companies are increasingly adopting filtration equipment for particle separation and to reduce risk and improve quality, food and beverage companies are demanding laboratory filtration equipment and supplies to enhance product quality and maintain the requisite ingredient quantity in product formulations. The adoption of laboratory filtration equipment and supplies across industries is gradually increasing, and this is pushing revenues in the global market.
North America to Remain Largest Revenue Pocket for Laboratory Filtration Equipment and Supplies
A strong presence of pharmaceutical and biotechnology companies and growing research and development activities in North America are the main factors positively impacting revenue growth of the North America laboratory filtration equipment and supplies market. Increased R&D spending in the U.S. (accounting for 2.7% of its GDP) is expected to bode well for the laboratory filtration equipment and supplies market in North America. The APEJ laboratory filtration equipment and supplies market is expected to register significant growth owing to the rapid industrialisation and growing penetration of international pharmaceutical and biotechnology companies in the region.
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Competitive Landscape of the Laboratory Filtration Equipment and Supplies Market
As per FMI analysis, Thermo Fisher Scientific is one of the prominent vendors in the laboratory filtration equipment and supplies market. The company offers laboratory filtration equipment and supplies with upgraded features for varied end-use industries such as pharmaceutical & biotechnology companies, academic & research institutes, and others. Some of the other market participants featured in FMI’s global laboratory filtration equipment and supplies market report are Pall Corporation, Merck Millipore, Sartorius Group, 3M Company, GE Healthcare, Sartorius, MACHEREY-NAGEL GmbH & Co. KG, Synder Filtration, Inc., AMD Manufacturing Inc., Microfilt India Pvt. Ltd. and GEA Filtration. Many of the leading players in the laboratory filtration equipment and supplies market are focussing on entering the untapped markets of developing regions.
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