Laboratory Water Purifier Market:Overview of key Market Forces Propelling and Restraining Market Growth

The global laboratory water purifier market is fragmented in nature with a host of small and large players competing against one another. This makes the competitive environment quite cutthroat. In order to outsell their rivals, key manufacturers are focusing hard on product differentiation through innovative technologies. Some of the prominent names operating in the market are Merck KGaA, Elga Labwater, Pall Corporation, Sartorious AG, Thermo Fisher Scientific Inc., Aqua Solutions, Inc., Evoqua Water Technologies LLC, Purite Ltd., and Chengdu Ultrapure Technology Co. Ltd.

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A noticeable trend in the global laboratory water purifier market is the smaller players entering into partnerships with distributors and service providers to grow their market shares. Acquisitions are another means by which companies are growing their shares, especially the large ones. The well-entrenched manufacturers, with their robust distribution networks and strong after-sales service, are constantly striving to expand their outreach and retain their existing consumer base.

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A report by Transparency Market Research forecasts the global laboratory water purifier market to rise at a robust 11.6% CAGR between 2017 and 2022 to reach a value of US$19.259 bn by 2022 from US$10.060 bn in 2016.

Depending upon the end-use industry, the global laboratory water purifier market can be segmented into food, environment, oil and gas, academic and government, and healthcare. Among them, healthcare is again divided into hospitals, pharmaceuticals, and clinical diagnostics and OEM. At present the segment of healthcare dominates the market for laboratory water purifier. In 2016, the segment’s share in the market was a substantial 39%.

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Geographically, the key segments of the global laboratory water purifier market are North America, South America, Asia Pacific, Europe, and the Middle East and Africa. Of them, Asia Pacific is a key region that accounts of maximum share in the market. In 2016 the region’s share was about 41.0%. In the upcoming years, the region is also expected to clock maximum growth on the back of significant technological investment in the countries of China and Japan.