Albany, New York, September 12, 2019 – The global medical membrane market is estimated to experience a notable growth in coming years due to increasing usage in several sectors for example, biotechnology, pharmaceuticals, healthcare, etc. At present, the medical membrane finds highest utilization in the medical sector in order to produce and maintain purity of the product. Its high selectivity and permeability are the two key properties making it a preferred choice in various industries. In medical sector, the growth of medical membrane market is attributed to rising number of people suffering from diseases such as diabetes across the globe.
According to a recent report by Transparency Market Research, the global medical membrane market is prognosticated to flourish at a steady 9.5% CAGR within the forecast period from 2018 to 2026. By the end of forecast period in 2026, the market is likely to be valued around worth US$6483.24 mn.
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Vital Importance in Hemodialysis to Bolster Growth Graph
Medical membrane is being used for several purposes, such as, bio-separation, tissue regeneration, drug delivery, artificial organs, coating of medical gadgets, and diagnostic devices. The medical membrane technology is important in the applications of various life-saving treatment methods. One such important use of medical membrane is in hemodialysis, where the toxins are separated from blood to purify it. Apart from this, the other uses are biosensors, bio-artificial liver, bio-artificial pancreas, and so on. These applications are prognosticated to contribute in the tremendous growth of medical membrane market in coming years.
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Stringent Approval Regulations to Hinder Medical Membrane Market Growth
However, these materials have certain drawbacks as well, which are anticipated to restrict the market to rise up to its full potential in future. The medical membrane biomaterials are used in diagnostic systems and therapeutic activities which are in direct contact with bio-fluids. Thus, the materials need to be compatible in terms of shape, blood, size, and porosity, based on the operation of the final device. Moreover, they require great care and protection from blood clot, immune responses and infection. This needs long in-process validation to understand the repose of the materials like, PTFE, PP, and PVDF, along with the host response to a biomaterial. This is likely to slowdown the market growth in coming years. Besides this, strict regulations pertaining to the approvals of membrane devices also hamper market development.
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North America to Lead Due to Rising Spending Ability on Healthcare Among People
Geographically, the global medical membrane market is led by North America, owing to healthcare and pharmaceutical sectors in the region. The U.S. holds around 17% of nation’s GDP for healthcare spending. The ability to spend on healthcare in the region is rising exponentially since past few years. Besides, Europe bags the second position in the market, propelled by increasing number of people suffering from end-stage renal disease (ESRD), increasing prevalence of diseases like diabetes, rise in geriatric population who are more prone to diseases, and better diagnostic services.
The global medical membrane market is foreseen to observe a high competition and a moderately fragmented market scenario in the forecast period. The market is led by well-established players which are leading on a technological front as well. The market however, requires a huge capital and consistent advancement in technology from its players so that they have an edge over their competitors. The major players operating in the global medical membrane market are Merck KGaA, Pall Corporation, 3M, Asahi Kasei Corporation, General Electric Company, Sartorius, W. L. Gore & Associates, Inc., and Cobetter Filtration Equipment Co., Ltd.
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The review is based on TMR’s report titled, “Medical Membrane Market (Material – Polysulfone and Polyether Sulfone, Polyvinylidene Fluoride (Hydrophobic Polyvinylidene Fluoride, Hydrophilic Polyvinylidene Fluoride), Polytetrafluoroethylene, Polypropylene, Modified Acrylics; Filtration Type – Ultrafiltration, Microfiltration, Nanofiltration; Application – Pharmaceutical Filtration, Hemodialysis, Drug Delivery, Intravenous (IV) Infusion and Sterile Filtration) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
The global medical membrane market has been segmented as follows:
Material
Filtration Type
Application
Region
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