The global laboratory water purifier market size was worth around USD 19.01 billion in 2022 and is predicted to grow to around USD 43.50 billion by 2030 with a compound annual growth rate (CAGR) of roughly 10.91% between 2023 and 2030.
Laboratory water purifiers are water purification devices designed for use in a laboratory or diagnostic environment. These devices serve as the primary source of clean or purified water for a variety of laboratory experiments, case studies, research, and development.
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???? Market for Laboratory Water Purifiers: An Overview
Water is an essential reagent in all types of laboratories, including clinical, biological, food & beverage, and environmental. The final outcome of any research or study is contingent on the purity of the water or other constituents used. Consequently, laboratories must have a constant supply of contaminant- and impurity-free water to ensure that their results are not compromised. Nevertheless, municipal water typically contains impurities such as heavy metals, bacteria and microorganisms, chlorine, sediments and particles, and viruses, to name a few. Laboratory water purification systems eradicate the presence of these contaminants and contribute to the integrity of scientific research.
???? Major Insights:
• According to the analysis revealed by our research analyst, the global laboratory water purifier market is projected to expand at a CAGR of approximately 10.91 percent over the period of forecast (2023-2030).
• In terms of revenue, the global laboratory water purifier market size was valued at around USD 19.01 billion in 2022 and is projected to reach USD 43.50 billion, by 2030.
• Due to the increasing pharmaceutical and biopharmaceutical industries, the market for laboratory water purifiers is anticipated to expand at a rapid rate.
➤ Increased pharmaceutical and biopharmaceutical research will propel market expansion
The increasing rate of research in the pharmaceutical and biopharmaceutical industries is anticipated to boost the global laboratory water purifier market. Increasing numbers of patients around the world suffering from a variety of mild to severe medical conditions, as well as the need to ensure that everyone has access to quality care, are pressuring drug and medical therapy developers to create affordable and effective medications. According to research, altering environmental conditions and rising pollution levels have led to an alarming increase in patients with life-threatening medical conditions, such as cancer, chronic obstructive pulmonary diseases, allergies, and airborne and waterborne infectious diseases.
➤ Lack of standardization will inhibit market expansion
Due to the sector’s lack of standardization, the laboratory water purifier industry may experience growth constraints. Due to the fact that various types of water purification processes are utilized based on regional regulations and other environmental factors, there are no standardized policies that determine which process is the most efficient. In addition, the material utilized in the purification procedure varies based on the service and product provider. This results in perplexity among market participants and consequent revenue loss.
➤ To create growth opportunities, stricter guidelines on the safety of food and beverages are necessary
Regional governments and international healthcare organizations have recently enacted stringent policies and implementation procedures to ensure the safety of food and beverages (F&B). The Food and Beverage (F&B) industry is governed by stringent regulations to ensure that products sold do not contain harmful substances that may cause significant health issues in the future. According to reports, Belgium recalled over 400 food products. Due to the risk of microbial or chemical contamination, eight out of ten products were recalled. The policies ensure that food manufacturers maintain safety measures throughout the research and production process, resulting in an increase in demand for laboratory water purifiers. SGS, a global inspection, testing, and certification firm, inaugurated the Advanced Centre of Testing (ACT) in Chennai, India, in April 2021. In addition to DNA-based molecular processes and digital sensory analysis, the facility is equipped to perform non-targeted and targeted detection of multiple contaminants.
➤ High costs of initial investment and maintenance are the most significant obstacles for industry participants
Laboratory water purifier system installation expenses could increase, posing a growth obstacle for the laboratory water purifier industry. The rising inflation rate and rising prices of raw materials have an effect on the device’s ultimate price. In addition, lab water purifiers must be meticulously maintained, as failure to do so can result in significant resource, monetary, and collateral losses.
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The Global Laboratory Water Purifier Market is segmented based on product, application and region
Global Laboratory Water Purifier Market: Product Segment Analysis
● Type 3
● Type 2
● Type 1
Global Laboratory Water Purifier Market: Application Segment Analysis
● Cell & Tissue Cultures
● Clinical Biochemistry Analysis
● Microbial Analysis
The global laboratory water purifier market is led by players like:
● Sartorius AG
● Merck Millipore
● Pall Corporation
● Avidity Science LLC
● Thermo Fisher Scientific
● Aqua Lab
● ELGA LabWater
● Siemens Water Technologies
● Aqua Solutions Inc.
● SG Water
● Labconco Corporation
● Purite Ltd.
● Buchi Labortechnik AG.
➤ Asia-Pacific will experience the highest growth rate over the forecast period
During the forecast period, Asia-Pacific is expected to experience the highest development in the global laboratory water purifier market. The region is home to some of the largest manufacturers of laboratory water purifier systems, which are in high demand domestically and internationally. In addition, the increasing use of lab water purification instruments in the expanding semiconductor industry has enabled Asia-Pacific to maintain its regional preeminence.
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China and Taiwan are two of the major semiconductor manufacturers in the world. Facilities manufacturing these devices are expanding at a rapid rate since the demand and consumption rate from consumers is surging. India has announced additional investments to develop the semiconductor industry in its region. In addition, expanding research for novel drug development, particularly in the market for generic drugs, is anticipated to propel regional revenue to new heights. Growth in North America is anticipated as a result of the vital function US pharmaceutical firms play in the global drug development market. Additionally, the expanding regional food industry will considerably contribute to the expansion of North America.
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