Wilmington, Delaware, United States, March 31, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global laboratory water purifier market stood at US$ 19.6 Bn in 2022 and is projected to reach US$ 53.7 Bn by 2031. The global industry is likely to expand at a CAGR of 11.9% between 2023 and 2031. Growth of the pharmaceutical industry and expansion of biotechnology and clinical biochemistry segments are expected to augment the global laboratory water purifier market. Furthermore, usage of laboratory water purifiers is increasing owing to rise in utilization of clean water in life sciences, clinical diagnostics, and biochemistry applications.
Manufacturers of water purifiers place strong emphasis on developing cutting-edge products in order to meet rising demand from biotech & pharmaceutical industries and research institutions. Top manufacturers are providing effective laboratory water filtration systems in order to boost sales. Dearth of accessible and affordable diagnostic testing in developing countries and high cost associated with post-purchase maintenance, however, are anticipated to present challenges to global market.
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The global industry has already observed substantial expansion in the last two decades. Pharmaceutical industries in both North America and Europe are expected to expand in the coming years due to presence of significant number of pharmaceutical companies in these two regions. Surge in investment by both private and public organizations are driving R&D activities in Asia Pacific. Thus, the pharma business in the region is likely to witness robust growth, which, in turn, is expected to increase demand and usage of laboratory water purifiers.
Key Findings of Market Report
- Utilization of water purification systems is increasing in biotechnology firms. Companies in the biotechnology industry conduct research and development on life forms or cells in order to develop novel products. Using clean water is crucial for various clinical biotechnology and biochemistry research and analysis applications. Clinical biochemical analysis studies could yield unreliable findings if the water is not clean, as it could be contaminated with microbes and inorganic ions. As a result, water purifiers are utilized in a number of biotechnology and biochemistry applications to remove pollutants and contaminants from water.
Global Laboratory Water Purifier Market: Growth Drivers
- The pharmaceutical industry has been among the fastest-growing global sectors in the past few years. R&D plays a significant role in this industry. Over 20% of sales revenue is allocated to R&D projects by major players in the global industry. Expansion of the pharmaceutical industry depends on the development and invention of novel medications. This increases the demand for effective water purification devices for lab research.
- Usage of laboratory water purification systems globally has increased, as more clean water is required for correct analysis of biological experiments done in laboratories. These systems utilize diverse purifying techniques and are available in a range of sizes. The number of research organizations, pharmaceutical companies, and academic institutions is expected to increase, which is likely to boost market growth between 2023 and 2031.
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Global Laboratory Water Purifier Market: Regional Landscape
- Asia Pacific is expected to lead the global market for laboratory water purifier during the forecast period. Japan and China are increasing investment in the pharmaceutical and healthcare industries, which is expected to drive the global laboratory water purifier market. Rise in R&D efforts in India to support establishment of environmental labs focusing on environmental challenges is projected to fuel market demand.
- Demand for laboratory water purifiers is rising in North America. The U.S. is one of the most important markets for laboratory water purifiers. Increase in consumer health consciousness and expansion of regional manufacturers are expected to drive business growth in the near future.
- Rise in spending on technologies, increase in awareness about cutting-edge products, and presence of local companies are anticipated to bolster the laboratory water purifier market in Europe from 2023 to 2031.
Global Laboratory Water Purifier Market: Key Players
- Chengdu Ultrapure Technology Co., Ltd.
- Thermo Fisher Scientific Inc.
- Evoqua Water Technologies LLC
- Sartorius AG
- Merck KGaA
- ELGA Labwater Global Operations
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Global Laboratory Water Purifier Market: Segmentation
Type
- Type I (Ultrapure)
- Type II (Pure)
- Type III (RO Water)
Application
- High-performance Liquid Chromatography (HPLC)
- Immunochemistry
- lon Chromatography
- Mammalian Cell culture
- Autoclave
- Others
Mode of Use
- Point of Use
- Large Central Systems
- Clinical Analyzers
Distribution Channel
- Direct
- Indirect
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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