LABORATORY FILTRATION IN HEALTH CARE MARKET ANALYSIS

Market Challenges And Opportunities

Global Laboratory Filtration Market Drivers:

Increasing application of filtration technology to drive market growth

One of the key factors expected to augment the growth of the global laboratory filtration market during the forecast period is the increasing application of filtration technology in pharmaceutical, biopharmaceutical, and food and beverage industries. For instance, in September 2022, Pall Corp. launched new Allegro Connect Systems to support Depth Filtration, Virus Filtration, and Bulk Fill of drug substances, and a Buffer Management System to simplify manufacturing workflows. These systems deliver enhanced process and risk control, through the full automation of unit operations that combine to support the production of a wide range of therapeutic drugs and vaccines.

Growth of the pharmaceutical industry to propel market growth

Another factor which is driving the growth of the global laboratory filtration market is the rapid growth of the pharmaceutical industry, especially in the U.S. and India. For instance, filtration is a valuable and necessary aspect of any pharmaceutical system. Filtration allows for the purification of the media and removal of debris or other contaminants within the system. Thus, with the rapid growth of the pharmaceutical industry, the use of filtration technology is also increasing rapidly. According to India Brand Equity Foundation (IBEF), India pharmaceuticals industry is expected to reach US$ 65 billion by 2024, and ~US$ 130 billion by 2030.

Global Laboratory Filtration Market Opportunities:

Outbreak of COVID-19 (pandemic) is expected to offer lucrative growth opportunities for players in the global laboratory filtration market. For instance, filtration technology is used to manufacture vaccines, and the increasing demand for safe/effective vaccines during the pandemic has increased the adoption of filtration techniques. Moreover, the social and economic burden of the pandemic has encouraged many governments worldwide to develop safe and effective COVID-19 vaccines, which in turn has led to an increase in the adoption of various filtration techniques or technologies. New filtration methods were streamlined to scale up vaccine production.

High demand for safe and effective vaccines is expected to offer significant growth opportunities for players in the laboratory filtration market. For instance, laboratory filtration is an essential step for vaccine manufacturing. Thus, with the increasing prevalence of infectious disease worldwide, the demand for safe/effective vaccines is also increasing with a rapid pace. According the World Health Organization (WHO), more than 1.5 million children under the age of five lose their lives to vaccine-preventable diseases every year. Immunization (vaccine) can prevent the suffering and death associated with infectious diseases.

Global Laboratory Filtration Market Restraints:

High cost of specialized filters to hinder market growth

One of the key factors expected to hamper the growth of the global laboratory filtration market is the high cost of specialized filters. The high cost of specialized filters has increased the pressure on laboratory filtration equipment and accessory manufacturers to offer quality products (or better and technologically advanced products) at lower prices. Moreover, stringent regulations imposed by the regulatory bodies regarding the filtration standards are forcing the manufacturers to adopt better filtration techniques, which in turn increase the cost of filters.

Reuse of sterilizing-grade filters to hamper market growth

Another factor which is hampering the growth of the global laboratory filtration market is the reuse of sterilizing-grade filters. Although laboratory filtration is often used in research and development activities of pharmaceutical companies, the reuse of sterilizing-grade filters is expected to hamper the market growth, as pharmaceutical companies use sterilizing-grade filters to overcome the high cost barrier. Such favorable circumstances for the reuse of sterilizing grade filters are expected to hamper the growth of the laboratory filtration market.