The global laboratory water purifier market slated to attain a value of US$19.259 bn by 2022 from US$10.060 bn in 2016 by rising at a 11.6% CAGR from 2017 to 2022.
In a highly competitive global laboratory water purifier market a large number regional and well-entrenched international players are seen trying to outshine one another. Some of the popular strategies of bigger manufacturers – both regional and international ones - are focus of product differentiation by leveraging latest cutting-edge technologies.
Other means adopted by companies to grow their market shares are acquisitions and strategic partnerships. Apart from that, dominant players are also known to leverage solid distribution networks and after-sales service to cement their positions.
Factors promoting the growth in the global laboratory water purifier market is the technological advancement leading to the emergence of products with better functionalities, their increasing number of applications, and the booming ecommerce sector.
Providing headwinds to the global laboratory water purifier market, on the other hand, is the lack of knowledge among buyers which regard to the specific purification technique they require. Helping to overcome the issue is the continued progress in technology which are slated to open up new avenues of growth.
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Several laboratory applications such as mammalian cell culture, liquid chromatography, and laboratory glassware, among others need water as a solvent. The degree of purity, however, varies from application to application.
Water purity or quality is determined by professional organizations, namely Clinical and Laboratory Standards Institute (CLSI), ASTM International, ISO, etc. ASTM, CLSI and ISO classify purified water for into three types – type I, type II, and type III.
Their parameters for classification are not exactly identical.
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At present, type I is used to classify water that is most pure. Type I accounts for maximum market share owing to their growing applications in crucial laboratory processes such as high performance liquid chromatography (HPLC).
In 2016, the segment accounted for 42.0% share in the market.
From a geographical standpoint, Asia Pacific contributes the most to the revenue in the global laboratory water purifier market. In 2016, the region’s share vis-à-vis revenue was worth 41.0%.
In the years ahead too, Asia Pacific is expected to hold on to its dominant position because of China and Japan which have made substantial investments in healthcare applications. Besides, Japan and China, India is another key market that holds out a strong promise of growth due to rise in the government’s spending on research and development of environmental labs to work on environmental issues.
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North America trails Asia Pacific in the global laboratory water purifier market in terms of revenue. The U.S. is a key market in North America because of the well established distribution network of the players, increased health awareness, and liberal allocation for the healthcare sector by government.
Europe is another major market whose growth in the near future will be brought about by the high concentration of regional players, increased investments in technology, and awareness and subsequent demand for innovative products. Latin America region too, supported by favorable regulatory laws, is expected to show sustainable growth during the forecast period.
Some of the prominent participants in the global laboratory water purifier market are Merck KGaA, Elga Labwater, Sartorious AG, Thermo Fisher Scientific Inc., Aqua Solutions, Inc., Evoqua Water Technologies LLC, Pall Corporation, Purite Ltd., and Chengdu Ultrapure Technology Co. Ltd.
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