The laboratory filter paper market is anticipated to expand from US$ 309.8 million in 2024 to US$ 437.0 million by 2034. The market is expected to grow at a CAGR of 3.5% through 2024. The primary drivers of this market’s growth are:
- the necessity of membrane filtration technology
- the rising end-user segments’ demand for high-purity
- the emphasis on creating large-molecule biopharmaceuticals
- the increasing R&D expenditures in the pharmaceutical and biopharmaceutical sectors
Nonetheless, it is projected that the high cost of systems will partially impede the growth of the lab filtration market throughout the forecast period.
The primary drivers of market expansion are the rising demand for filters with higher levels of efficiency and the expanding use of filtering technologies in the food and beverage, biopharmaceutical, and pharmaceutical industries. Filtration devices come with functions such as membrane filtration, oil and gas filtration, air filtration, sterilized filtration, and bioburden reduction. Producers are creating large-scale volume filtering systems for the biopharmaceutical and pharmaceutical industries.
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Laboratory filtration finds application in the following domains: research laboratories, microbiological analysis, virus eradication, and water purification treatment facilities. Throughout the projection period, growth is anticipated to be driven by the development of sophisticated filtering technologies for ultra-purification, rising analytical instrument utilization, and increasing demand for high throughput filtration products during the downstream process.
Lab equipment suppliers offer affordable, high-quality products despite rising consumer demands for more sophisticated equipment. As a result, producers need help to pass on research and development and other manufacturing costs to end consumers, leading to lower profit margins.
Biopharmaceutical firms produce medicines and components. Filters are used to prevent contamination and remove organisms during production. Sterilization and bioburden reduction filters are popular in laboratories. It controls bacteria and other microorganisms in the production process.
“The laboratory filter paper market is expected to experience significant growth over the coming years due to increasing demand from various industries and advancements in filter paper manufacturing technologies,” – says an FMI analyst.
Key Takeaways from the Laboratory Filter Paper Market
- The global laboratory filter paper market is estimated to register a CAGR of 3.50% and reach a valuation of US$ 437.0 million by 2034.
- The market captured a CAGR of 2.60% during the historical period from 2019 to 2023.
- India is anticipated to dominate the global market by registering a CAGR of 6.20% during the forecast period.
- China is expected to record a CAGR of 5.80% over the forecast period.
- Japan is anticipated to secure a CAGR of 5.10% during the forecast period.
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Key Strategies
With the increasing focus of key players on expanding their laboratory filtration portfolio through acquisitions and collaborations with companies, the competition in the global laboratory filter paper market is expected to intensify in the coming years. The market presents numerous opportunities for new players and established market leaders to invest in research and development activities, innovate new products, and expand their customer base. As a result, the market is poised for significant growth in the foreseeable future.
Recent Developments in the Laboratory Filter Paper Market
- In November 2023, chemists at the University of Chicago made a significant drug discovery chemistry breakthrough. The team replaced carbon with nitrogen using lab filter papers and two distinct methods of drug filtration.
- In November 2023, ErtelAlsop created a recipe for depth filter capsules. In the lab, these capsules can be used to make filtration apparatus.
- In October 2023, Sartorius introduced Grade 175 filter paper for analytical uses. It features excellent particle retention, a quick flow rate, and premium cellulose fibers for clarifying liquids and filtering tiny precipitates.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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