Meticulous Research®—a leading global market research company, published a research report titled, ‘Lab Water Purification System Market By Mode of Use (Point of Use, Large Central, Clinical Analyzer), Type [Ultrapure, Pure, RO], Application (Chromatography, Cell Culture, Microbiology), End User (Pharma, Food, Hospital) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the lab water purification system market is projected to reach $10 billion by 2030, at a CAGR of 9.1% from 2023 to 2030. The growth of this market is attributed to factors such as rapid expansion & growth of the pharmaceutical & biotechnology industry, rising R&D expenditure of biopharmaceutical companies, growing demand for purified water in laboratories, increased focus on new drug development, and growing demand for biopharmaceuticals. In addition, the untapped market potential in emerging economies is expected to provide significant growth opportunities for this market. However, the high cost of lab water purification system is a major challenge to the growth of this market.
Lab Water Purification System Market: Future Outlook
The lab water purification system market is segmented by mode of use, type, application, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country and regional levels.
Based on mode of use, in 2023, the point of use segment is expected to account for the largest share of the lab water purification system market. The large market share of this segment is attributed to the benefits of the point-of-use system in providing a consistent supply of purified water wherever it is needed for laboratory research experiments and low chances of contamination when compared to large central systems.
Based on type, in 2023, the type 1 - ultrapure water segment is expected to account for the largest share of the lab water purification system market. The large market share of this segment is attributed to factors such as the high requirement of ultrapure water for various types of laboratory experiments and the effectiveness of ultrapure water in high-sensitivity experiments.
Based on application, in 2023, the chromatography segment is expected to account for the largest share of the lab water purification system market. The large market share of this segment is attributed to the increasing requirement for a large amount of purified water for HPLC experiments and the growing applications of chromatography in the pharmaceutical industry.
Based on end user, in 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the lab water purification system market. The large market share of this segment is attributed to the increasing requirement of purified water in the pharma & biotech companies, the rapid expansion of the pharmaceutical & biotechnology industry in emerging economies, stringent government regulations which necessitate the use of purified water, and increased focus on research and development.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global lab water purification system market, followed by Europe and Asia-Pacific. North America’s large market share is attributed to the high healthcare expenditure in the region, government regulations that push the end users to purchase lab water purification system, and the region’s robust infrastructure in sectors like pharmaceutical & biotechnology companies, academic research, and food & beverages industries.
The key players operating in the laboratory water purification system market are Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Labconco Corporation (U.S.), Evoqua Water Technologies LLC (U.S.), Veolia Water Solutions & Technologies (France) (Subsidiary of Veolia Environnement S.A. (France)), Sartorius AG (Germany), Yamato Scientific Co., Ltd. (Japan), Danaher Corporation (U.S.), Biolab Scientific Ltd. (Canada), Aqua Solutions, Inc. (U.S.), SUEZ Water Purification Systems Ltd (U.K.), NEPTEC GmbH (Germany), and RephiLe Bioscience Ltd. (U.S.).
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