New York, Aug. 27, 2019 (GLOBE NEWSWIRE) -- An increasing number of surgeries, the increase in the demand for High-Purity Selective Separation, and the rising popularity of Dialysis Procedures over Renal transplants have resulted in boosting the medical membranes market.
The Global medical membranes market is forecast to reach USD 4.25 Billion by 2026, according to a new report by Reports and Data. The primary use of medical membranes is in separation techniques, in which, it is used for separation, concentration, and purification purposes. Elementary factors like the rising popularity of Dialysis Procedures over Renal transplants, expansion of healthcare and pharmaceutical industry and the increase in the demand for High-Purity Selective Separation are propelling the expansion of the market.
The expansion of the market is attributed to the integration of different factors. One of the mentionable factors in this context is its wide application in pharmaceutical technology. In the pharmaceutical industry, filtration is an essential aspect of its operation for which medical membranes becomes critical. Its applicability in pharmaceutical technology is observable from its use in cross-flow filtration. In cross-flow filtration, it is used for clarification of alcohol without the requirement of any media to act as a filter for eliminating particles from alcohol.
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Further key findings from the report suggest
- The medical membranes market held a market share of USD 2.35 Billion in the year 2018 with a growth rate of 7.4% during the forecast period.
- In context of Material, the Polysulfone (PSU) & Polyether Sulfone (PESU) segment generated the highest revenue of USD 0.68 Billion in 2018 with a growth rate of 7.6% during the forecast period. The extensive use of this type of material in the functioning of different end-user industries like pharmaceutical, biotechnology, life sciences, and healthcare sectors contribute to the revenue generated by this segment.
- In regards to Scope, the Therapeutic use segment yielded a higher revenue of USD 1.57 Billion in 2018 with a growth rate of 6.3% during the forecast period. The rise in the occurrence rate of chronic diseases like cardiovascular, renal diseases and increased awareness among healthcare providers about its applicability in disease management contributes to the segment's generated revenue.
- In context to Process Technology, the Nanofiltration (NF) segment is projected to witness the fastest growth rate of 8.9% during the forecast period, which is expected to occupy 19.0% of the market by 2026. Various potential medical and biological applications of this type of filtration that includes isolating, sensing, sorting & releasing biological molecules and increasing awareness about its applicability contributes to its growth rate.
- In context of Application, the Pharmaceutical Filtration segment occupies the largest market share of 38.0% in 2018, with the third-highest growth rate of 7.5% during the forecast period. Factors like expansion in pharmaceutical sector and elevation in medicated drug's production contribute to the segment's occupied market share.
- In regards to region, the Asia Pacific region is expected to witness the fastest CAGR of 8.5% during the forecast period, which occupied the third-largest market share of 23.0% in 2018. Factors like the increasing number of chronic diseases, rise in foreign direct investment in the healthcare sector, increase in the number of dialysis center and elevated disposable income are some of the contributing factors spurring the expansion of the market in this region.
- Key participants include Sartorius Ag, Asahi Kasei Corporation, 3M Company, Pall Corporation, Merck Millipore (Emd Millipore), Hangzhou Cobetter Filtration Equipment, Ge Healthcare, Microdyn-Nadir GmbH, Koch Membrane Systems and W. L. Gore & Associates, Inc.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the medical membranes market according to Material, Scope, Process Technology, Application, and Region:
Material Type Outlook (Revenue, USD Billion; 2016-2026)
- Polyvinylidene Fluoride (PVDF)
- Polysulfone (PSU) & Polyether Sulfone (PESU)
- Polypropylene (PP)
- Polytetrafluoroethylene (PTFE)
- Modified Acrylics
- Others
Scope Type Outlook (Revenue, USD Billion; 2016-2026)
- Diagnostic use
- Therapeutic use
Process Technology Type Outlook (Revenue, USD Billion; 2016-2026)
- Microfiltration (MF)
- Ultrafiltration (UF)
- Nanofiltration (NF)
- Others
Application Type Outlook (Revenue, USD Billion; 2016-2026)
- Diagnostic use
- Therapeutic use
- Hemodialysis
- Pharmaceutical Filtration
- Iv Infusion & Sterile Filtration
- Drug Delivery
- Others
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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