Albany, NY -- (SBWIRE) -- 11/12/2018 -- The membrane technology market around the world has undergone significant and rapid growth owing to a surge in research and development activities in the pharmaceutical, biopharmaceutical, and life sciences industries. Membrane technology finds applications in virus removal, cell culturing and examination, drug screening, and lab-scale DNA and protein separation and analysis. In the field of pharmaceutical, biopharmaceutical, and life sciences, membrane technology makes use of four key technologies: nanofiltration, ultrafiltration, chromatography, and microfiltration.
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The research report is an in-depth evaluation of the membrane technology market and assesses its involvement in pharmaceutical, biopharmaceutical, and life sciences industries from 2014 through 2019. The report focuses on the structure, elements, dynamics, growth factors, challenges, and prominent players of the membrane technology market by presenting data in a qualitative as well as quantitative format.
According to the report, the global market for membrane technology in pharmaceutical, biopharmaceutical, and life sciences industries is set to grow from a market value of US$6,461.3 million in 2013 to US$10,886 million by 2019 by registering a CAGR of 9.1% between 2014 and 2019.
The membrane technology market for pharmaceutical, biopharmaceutical, and life sciences industries has grown in recent times owing to the global rise in pharmaceutical production, the adoption of single-use disposable technique for biopharmaceutical applications, enforcement of stringent regulations, and focus on product modification and product innovation.
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On the flip side, the limitations associated with membrane materials, need for major capital investments, sky-high operational costs, and the adverse effects of membrane fouling have threatened to hamper the growth of the membrane technology market in pharmaceutical, biopharmaceutical, and life sciences industries.
North America currently dominates the global membrane technology market, with a 41% share in 2012. Thanks to the flourishing pharmaceutical and biopharmaceutical markets in the U.S. and the presence of a strong regulatory board such as the FDA, the membrane technology market in North America is expected to retain the lead in the coming years. Numerous organizations, associations, and societies have been actively involved in the development of membrane technology in Europe, making it the second largest market in the world. However, presenting a 13% CAGR from 2014 to 2019 owing to a large patient pool, increased health awareness and spending, and rising prevalence of chronic diseases, Asia Pacific is estimated to be the fastest developing geographical segment of the membrane technology market.
Some of the leading players in the membrane technology market in pharmaceutical, biopharmaceutical, and life sciences industries are Merck Millipore, Sartorius, Advantec MFS, Amazon Filters, Trisep Corporation, GE Healthcare Life Sciences, Pall Corporation, Koch Membrane System, Novasep, and 3M Company. Among these, GE Healthcare and 3M Healthcare have been dominating the global market over the years.
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