Global Laboratory Water Purifier Market: About this market
Technavio’s laboratory water purifier market analysis considers sales from healthcare, research organizations and institutes, and other end-users. Our report also finds the sales of laboratory water purifiers in APAC, Europe, North America, South America, and MEA. In 2018, the healthcare segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increased funding by governments in the biotechnology sector will play a significant role in the healthcare segment to maintain its market position. Also, our global laboratory water purifier market report looks at factors such as implementation of innovative technologies and new product launches, increased organizational initiatives by end-user industries, and growing focus on food safety worldwide. However, stringent regulatory procedures, lack of accessibility and affordability of diagnostic tests in developing countries, and costs involved in maintenance and post-purchase servicing may hamper the growth of the laboratory water purifier industry over the forecast period.
Global Laboratory Water Purifier Market: Overview
Implementation of innovative technologies and new product launches
The expansion in the field of laboratory experimentation has contributed to the advancement in the field of laboratory equipment, including laboratory water purifiers. With rapid advances in technology and new product launches, companies are upgrading their existing product portfolios to meet the increased demand for laboratory water purifiers. For instance, Avidity Science launched the GENO CL water purification system in September 2019, which provides seamless power supply of pure water for the daily operations of clinical laboratories. Technological upgrades and new product launches have improved water purity and reduced manufacturing wastage, which will lead to the expansion of the global laboratory water purifier market at a CAGR of almost 10% during the forecast period.
Adoption of standardization and automation
The cost-cutting in clinical lab fees is lowering the profitability per test, thus making it necessary for medical laboratories to focus on higher volumes rather than higher values. There is also a heavy emphasis on quality, error-free results to ensure patient satisfaction. This forces such labs to lean toward more automated systems with effective workflow solutions, such as laboratory water purifiers. In the US, laboratories are opting for automation due to the heavy influx of patients with insurance coverage. The standardization of data collection and workflow methodology will have a high impact on operations and quality in clinical laboratories. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global laboratory water purifier market during the forecast period 2019-2023, click here.
With the presence of several major players, the global laboratory water purifier market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading laboratory water purifier manufacturers, that include Aqua Solutions Inc., BIOBASE Group, Biosan, Danaher Corp., Evoqua Water Technologies Corp., Merck KGaA, Sartorius AG, SUEZ SA, Thermo Fisher Scientific Inc., and Veolia Water Solutions & Technologies.
Also, the laboratory water purifier market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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