Medical Membranes with Nanofiltration Technology to Dominate Global Market Over Coming Years, States Fact.MR
Published : 29 Jul 2021 Industry: Healthcare
As per a new report published by Fact.MR - a market research and competitive intelligence provider, the global medical membranes market is anticipated to top a valuation US$ 3 Bn by 2031, expand at a CAGR of 7%.
Medical membranes are devices made from organic and inorganic polymers that are used extensively in medical treatments. Medical membranes are created artificially to be used in separation purposes across the healthcare industry. They are extensively utilized in the medical sector to produce and maintain the maximum purity of products.
Medical membranes generally furnish high separation accuracy and help in the production of high purity products. In addition to this, they also offer relatively superior selectivity towards essential components and help in enhancing and improving the treatment of wastewater.
Owing to increase in their application across various end-use industries, such as biotechnology, pharmaceuticals, and healthcare, demand for medical membranes has witnessed unprecedented growth in recent years.
Key Takeaways from Market Study
- Valuation of medical membranes topped US$ 2 Bn in 2020 and is expected to cross US$ 3 Bn by 2031.
- Increasing use of medical membranes is attributable to growing need for high-purity selective separation in pharmaceutical and healthcare industries, and growing incidence of renal ailments worldwide.
- Europe accounts for 35% of the market share for medical membranes.
- Application of medical membranes in pharmaceutical filtration is projected to propel market growth.
- Demand for medical membranes in the U.S. is currently valued at US$ 735 Mn.
- Demand for medical membranes possessing nanofiltration technology is expected to top US$ 730 Mn by 2031.
“Growing requirement of high-separation medical membranes in industries such as pharmaceuticals and healthcare to escalate market growth over coming ten years,” says a Fact.MR analyst.
Top companies are adopting several organic and inorganic strategies to strengthen their position in market. Most are focusing on expanding their production facilities and acquiring other businesses. 3M (US) is one of the most active companies in market.
Great deal of investments is being made towards R&D projects aiming at developing innovative and advanced medical membrane systems for the biopharmaceutical industry. This will further create growth opportunities for market players over the coming years.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the medical membranes market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of material (polysulfone PSU & polyethersulfone PESU, hydrophilic polyvinylidene fluoride PVDF, polytetrafluoroethylene PTFE, polypropylene PP, polyethylene, modified acrylics), process technology (ultrafiltration, microfiltration, nanofiltration, reverse osmosis, dialysis, gas filtration), and application (pharmaceutical filtration, haemodialysis, drug delivery, IV infusion & sterile filtration, bio-artificial processes), across major regions of the world (North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant - Healthcare