Lab Water Purification System Market

According to this latest publication from Meticulous Research®, the lab water purification system market is projected to reach $10 billion by 2030, at a CAGR of 9.1% from 2023 to 2030. The growth of this market is attributed to factors such as rapid expansion & growth of the pharmaceutical & biotechnology industry, rising R&D expenditure of biopharmaceutical companies, growing demand for purified water in laboratories, increased focus on new drug development, and growing demand for biopharmaceuticals. In addition, the untapped market potential in emerging economies is expected to provide significant growth opportunities for this market. However, the high cost of lab water purification system is a major challenge to the growth of this market.