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Oct 25, 2019 10:00 AM ET

Medical Membranes Market by material, Process Technology, Application, and Region-Global forecast to 2022

iCrowd Newswire - Oct 25, 2019

According to the new market research report Medical Membranes Market by material (PTFE, PVDF, PP, PSU & PESU), Process Technology (UF, MF, NF), Application (Pharmaceutical Filtration, Hemodialysis, Drug Delivery, IV Infusion & Sterile Filtration), and Region-Global forecast to 2022″, The medical membranes market is expected to reach USD 3.31 Billion by 2022. The medical membranes market is projected to grow from USD 2.13 Billion in 2017 to USD 3.31 Billion by 2022, at a CAGR of 9.2% during the forecast period.

This growth can be attributed to the increase in the number of ESRD patients worldwide. Moreover, the demand for artificial organs and organ transplant will also propel the growth of the medical membranes market in the healthcare sector. The rising incidences of patients undergoing dialysis is another factor driving the demand for medical membranes.

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The healthcare industry is flourishing in all regions, especially in the developing regions of APAC, the Middle East & Africa, and South America. The growth is driven by growing population and aging population.

Many governments are taking different initiatives to cut costs and improve the quality of their healthcare infrastructure. Improving healthcare facilities will fuel the growth of the healthcare market globally. Growth in the healthcare facilities will increase the demand for medical products and will drive the demand for medical membranes.

The home healthcare industry is on the rise with the growing older population. In the US, the majority of the population over 65 years is receiving home healthcare services. Approximately, 96% of this old-age population requires bathing assistance, and 88% requires assistance in transferring in and out of bed. In 2015, home healthcare expenditure reached USD 88.8 billion, from USD 83.6 billion in 2014. This growth is expected to continue in the near future. The rising healthcare costs, along with costs associated with hospital re-admissions, are making home care a feasible option.

The growing home healthcare industry has increased the demand for lightweight, disposable, and user-friendly devices. Many of these devices use membranes to maintain the purity standards. Home care and self-medication require disposable products as sterilization facilities are not available. These factors increase the demand for medical membranes.

Browse and in-depth TOC on “Medical Membranes Market – Global Forecast to 2022”

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129 – Pages

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Medical membranes, though made of medical grade polymers, have to undergo in-process validation for certification. This process takes 3-6 months. After the membrane or membrane component has been validated and certified, the device that uses the membrane also needs to be certified.

Despite the high demand for medical products and devices, manufacturers are facing several regulatory barriers due to multi-layered regulations set by the FDA. In the US, for the approval of any new medical product, manufacturers are required to submit performance data to the FDA. In this process, the device is compared with a legally marketed device for the same use and the same technological characteristics.

Thus, these lengthy validation and certification process delays the commercialization of medical membranes and medical products.

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In 2017, 3M (US) invested USD 40.0 million to expand its dialysis membrane production facility. This expansion strategy enabled the company to expand its customer base and strengthen its foothold among several medical device manufacturers. In February 2015, 3M (US) acquired the Polypore’s Separation Media business, which helped 3M to enhance its existing line of products.

In August 2017, Merck Millipore (US) acquired Natrix Separations (Canada), a leading provider of hydrogel membranes. This acquisition helped Merck Millipore increase its product portfolio, enhance its customer base, and strengthen its foothold in North America. In July 2016, Merck Millipore (US) established a new facility in the US, which will include a training center and a customer collaboration laboratory. This expansion strategy helped the company develop new and customized products for different applications in the healthcare sector.

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Keywords:    Medical Membrane Market, Organic Chemicals Application Industry Trends

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