July 15, 2020
According to the research report titled ‘Global Centrifugal Filters Market Size study, by Type (<10ML, 10ML-20ML and >20ML), by Application (Medical, Food, Industrial and Other) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global centrifugal filters market is slated to showcase a robust growth rate between 2020 and 2026.
Centrifugal filters are widely adopted across various industry verticals such as industrial, food and medical for eliminating tiny stone particles as well as for recycling the process liquid. The equipment is extensively used in pharmaceutical industries since it uses centrifugal force to separate suspended particles from the surrounding medium in a batch or continuous flow of chemicals, solutions and other liquids.
Escalating healthcare expenditure and rising adoption of centrifugal filters in healthcare sector are key factors fueling the market growth. In fact, National Health Expenditure Accounts states that spending on healthcare in the U.S. grew by 4.6% from 2017 and reached USD 3.6 trillion in the year 2018. Likewise, according to Indian Brand Equity Foundation, government spending on healthcare was 1.2% of GDP in 2014 which increased to 1.4% of GDP in the year 2018. Moreover, the Indian government is planning to improve public health expenditure to 2.5% of GDP by the year 2025.
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Apart from this, increasing utilization of centrifugal filters in food and industrial sectors is aiding the market expansion. However, high cost along with lack of standardized regulations associated with the product may act as hindering factors to the overall market expansion.
Based on type, global centrifugal filters industry is divided into >20ML, 10ML-20ML and <10ML. Elaborating on the application spectrum, the market is split into industrial, food, medical and others.
From the regional point of view, North America centrifugal filters industry is estimated to generate substantial revenues in the forthcoming years, primarily driven by escalating healthcare expenditure. On the other hand, Asia-Pacific market is poised to accumulate appreciable returns during the forecast timespan. Favorable government regulations and rapid expansion of end-use industries are facilitating the business scenario in APAC.
The prominent companies operating in worldwide centrifugal filters market are Cole-Parmer, Analytical Engineering Inc., AD H2OC Industrial, Waterco Ltd., Sartorius Group AG, Merck Millipore, Pall Corporation, Corning Incorporated and GE Healthcare among others.