Growing Number of Subcontract Laboratories Predicted to Drive the Global Qualitative and Quantitative Filter Market Until 2020, Says Technavio

LONDON--()--According to the latest research study released by Technavio, the global quantitative and qualitative filter market is expected to reach over USD 30 million by 2020.

This research report titled ‘Global Qualitative and Quantitative Filter 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. The market size was calculated from the revenue generated by different vendors in this product category.

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“Subcontract laboratories have been increasing since 2011 and this trend is likely to continue over the forecast period. Introduction of subcontract laboratories has enabled smaller companies to carry out research and testing to drive innovation. Cost constraints had earlier prevented companies from investing in research facilities due to high capital requirements, and in some cases, it led to a drop in R&D investment by the company,” said Abhay Sinha, one of Technavio’s lead analysts for lab equipment research.

“Subcontract laboratories allow these companies to outsource their research and testing processes for a mere fraction of the actual infrastructure cost. Outsourcing research and testing to smaller subcontract laboratories specializing in niche areas has gained massive popularity and this trend is expected to continue over the forecast period,” added Abhay.

Global quantitative and qualitative filter market by end-users 2015

  • Pharmaceutical 22.73%
  • Food and beverage 14.53%
  • Academia 13.96%
  • Others 48.78%

Source: Technavio research

Global quantitative and qualitative filter market in pharmaceutical sector

The global quantitative and qualitative filter market in the pharmaceutical sector was valued at USD 5.6 million in 2015. The global quantitative and qualitative filter market in the pharmaceutical sector is expected to be the fastest growing segment during the forecast period. An increase in investments in the pharmaceutical and healthcare sector is expected to contribute to the growth of this segment between 2016 and 2020. The increasing number of subcontract laboratories, especially in the pharmaceutical sector is also likely to result in a rise in the demand for quantitative and qualitative filters during the forecast period.

Global quantitative and qualitative filter market in food and beverage industry

The global quantitative and qualitative filter market in the food and beverage industry was valued at USD 3.58 million in 2015. The global quantitative and qualitative filter market in the food and beverage industry was the second largest contributor to the overall market revenue in 2015. Increasing stringent food processing and safety norms have led to a tighter control of quality testing to monitor processed and packaged food, a category where qualitative filters are widely used. Rise in demand from this end-user segment will likely be driven by North America and Western Europe, where food and safety norms are much more rigorous.

Global quantitative and qualitative filter market in academia

The global quantitative and qualitative filter market in academia was valued at USD 3.44 million in 2015. End-users of quantitative and qualitative filters in academia include students as well as educators from high schools to research institutions. High schools usually require filter papers for biology and chemistry curricula, whereas research institutes use it for applications in the field of research. As of 2014, there were over 7,500 universities worldwide, and 1,100 of these were research institutes. The increasing number of research institutes and emphasis on research and breakthrough developments in different fields will ensure the growth of this segment over the next four years.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest research study released by Technavio, the global quantitative and qualitative filter market is expected to reach over USD 30 million by 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com