Global Membrane Technology Market to Reach US$10.8 by 2019
A research study on the global membrane technology market for pharmaceutical, life sciences, and biopharma published by Transparency Market Research (TMR), estimates the market to expand at a CAGR of 9.10% during the period from 2014 and 2019. In 2013, the market attained a value of US$6.4 bn and it is expected to reach US$10.8 bn by the end of the forecast period.The research report is titled “Membrane Technology Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2019.”
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Membrane technology refers to various engineering approaches adopted for the transportation of substances between two segments with the help of permeable membranes. This technology is mostly applied in the pharmaceutical, life sciences, and biopharma industries. The rapid growth in the pharmaceutical industry across the world has boosted the global membrane technology market significantly over the past few years.
The rising trend of single-use disposables in biopharma is also propelling this market remarkably. In addition to this, stringent regulations and policies pertaining to environmental safety are expected to drive the market’s growth over the forecast period, reports the study.
The report presents a comprehensive analysis of the global market for membrane technology for pharmaceutical, life sciences, and biopharma on the basis of technology and the region. Chromatography, nanofiltration, microfiltration, and ultrafiltration are the major membrane technologies applied in pharmaceutical, life sciences, and biopharma, notes the market study.
The study further states that the global market is spread across North America, Asia Pacific, Europe, and the Rest of the World. North America has emerged as the leading regional market for membrane technology. In 2012, this regional market accounted for a share of approximately 41% in the overall market. The U.S. is the leading membrane technology market in North America. The presence of a huge pharmaceutical market in the country is the key factor driving the U.S. market.
Europe has acquired the second position in this market. The increasing research and development activities in membrane technology have propelled this market significantly since the past few years, states the report.
Analysts project Asia Pacific to register the fastest rise in the global membrane technology market at a CAGR of 13.0% during the forecast period. The presence of a large pool of patients suffering from various chronic diseases and the infrastructural development in the Asia Pacific medical and healthcare industry are likely to boost the membrane technology market in this region over the forthcoming years.
Analysts have also examined the competitive landscape prevalent in the global membrane technology market. The profiles of major companies have been analyzed to determine the market hierarchy. According to the research study, 3M Co., Advantec MFS, Trisep Corp., Amazon Filters, Novasep, GE Healthcare Life Sciences, Koch Membrane System, Merck Millipore, and Sartorius are the leading participants in the global membrane technology market.
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