Market Scenario
The filters and particle monitoring market is expected to show sturdy growth rate during the forecast period. Filters and particle monitoring has a lot of importance in the healthcare industry as it helps to ensure sterility and safety of equipment as contamination issues can pose a serious problem in this industry. Factors owing to the sturdy growth rate of this market are initiatives taken by the government and private healthcare institutions to ensure sterilized environment, drug safety, and prevent hospital-acquired infections. Moreover, rising number of hospitals, increase demand for surgery based treatments, increasing number of research and development work in clinical research, drug quality testing, rising pollution, and incidence of allergens associated diseases spurs the growth of filters and particle monitoring market. However, the high cost of equipment and lack of knowledge about filter technology in middle-income countries, stringent government regulations restrict the market growth.
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Market Segmentation
The global filters and particle monitoring market is segmented on the basis of product for filter, technology for filter, a product for particle monitoring, and end-users. Considering the products for filter, the market is segmented into filtration accessories, filtration assemblies, and others.
By technology for filter, the market is segmented into ultra-filtration, vacuum filtration, microfiltration, Nano-filtration, and others.
With reference to product for particle monitoring, the market is segmented into monitors, sensors, and others. The monitors segment is further segment into air-control monitors, water control monitors and others. Sensors are further segmented into analog (Chemical testing, Moisture control) and Digital (Temperature, Noise).
On account of end-users, the market is segmented hospitals and diagnostic centers, pharmaceutical companies, and research institutes.
Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Regional Market Summary
Americas will account the largest share for filters and particle monitoring market owing to accessibility to advanced surgeries, increasing number of research laboratories, rising number of automobiles, health issues due to pollutant allergens and increasing awareness for good health. Rising number of clinical research labs required high-end filtration as well particle monitoring techniques to ensure the efficacy in research. For instance, according to Center for Diseases Control and Prevention, approximately 46.5 million surgical procedures are performed every year in the U.S. Furthermore, rising geriatric population can lead to the increasing demand for the use of ICU units, thus leading to increase in the patient pool which will fuel up the market growth during the forecast period. However, stringent U.S. FDA rules and regulations can hamper market growth.
Europe is the second market leader and holds a healthy share in the global filters & particle monitoring market. The European market is expected to exhibit a sturdy growth rate during the forecast period owing to the flourishing medical device market, rising number of clinical, research labs, good healthcare infrastructure, and favorable reimbursement policies. For instance, NHS estimated that there were around 4.7 million surgical admissions in England, out of which 1.3 million procedures were for general surgery and around 1.2 million procedures were for trauma and orthopedics. These high surgical procedure numbers lead to rising need for intensive care units(ICU) which eventually drives the growth of particle monitoring technology to provide aseptic conditions boost up the market growth of Filters & particle Monitoring in Europe.
Asia Pacific is expected to show promising growth and be the fastest emerging market. The automobile market has experienced huge growth in countries such as China, India, and Brazil, owing to which these regions are lucrative markets for companies producing fuel and oil filters. This factor can give an upthrust to the overall filter market growth during the forecast period owing to increasing awareness regarding clean emission and favorable government regulations regarding it. Furthermore, rising need for advanced surgeries, growing healthcare industry, and increasing clinical research are the significant factors that are aiding the global filters market demand.
The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates and Saudi Arabia is the largest market share owing to the development of the healthcare industry and rising availability of specialty care centers.
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