According to Fact.MR’s analysis of the medical membranes market, it was valued at US$ 2 billion in 2020 and is anticipated to reach US$ 3 billion by 2031, growing at a CAGR of 7%. Sales of microfiltration membranes are expected to increase at a rate of 6% over the next ten years, while sales of ultrafiltration membranes are expected to reach US$ 1 Bn by 2031.
According to Fact.MR, a company that offers market research and competitive intelligence, the global market for medical membranes was valued at US$ 1.3 billion in 2016 and is expected to reach US$ 3 billion by 2031, growing at a CAGR of 7%.
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Some of the other applications of membrane technologies, such as separation and purification are extremely in demand in the pharmaceutical industry. Medical membranes have high precision for separation and assist in the processing of products of high purity.
The pharmaceutical, healthcare, and biotechnology industries are experiencing tremendous growth in developing countries as the ageing population rises. Furthermore, development of the healthcare industry in emerging economies is expected to provide lucrative opportunities for business growth during the forecast period.
Medical membrane technology is critical in a variety of medical applications, including a number of life-saving treatments. Drug delivery, tissue regeneration, artificial organs, and diagnostic gadgets such as medical device coatings and bio-separations are among its most significant medical uses.
Despite high demand for medical products and devices, manufacturers are facing several regulatory barriers due to multi-layered regulations set by the FDA. The lifespan of a particular type of membrane used in a separation process for medical application is constrained and, therefore, needs replacement after a certain period of time.
Key Highlights
- Europe accounts for 35% of the market share for medical membranes
- The medical membranes market in the U.S. is estimated to reach a valuation of US$ 735 Mn in the year 2021.
- China, the world’s second-largest economy, is forecast to reach an estimated market valuation of US$ 350 Mn in the year 2031, trailing a market size at a CAGR of 9% through the analysis period.
- Japan and Canada, each forecast to expand market size at CAGRs of 4% and 6%, respectively, over the next ten years.
- By process technology, demand for nanofiltration medical membranes is expected to reach a valuation of US$ 730 Mn by 2031.
- By application, pharmaceutical filtration has garnered the largest share of around 30%, in terms of revenue.
Growth Drivers:
- Increase in prevalence of diseases globally, developments in biotechnology, life science, and healthcare industries, the surge in demand for high-purity products, and increase in medical membrane consumption in the medical industry are some of the key driving forces of the global industry for medical membranes.
- Inflated demand for medical products and devices, manufacturers are facing several regulatory barriers due to multi-layered regulations set by the FDA.
Competitive Landscape:
The competitive landscape of the Medical Membranes Market focuses on benefiting from the rise in the need for high purity products for meeting the needs of biotechnological advancements, increase in disease prevalence, and growth of the healthcare and life science industry.
- In 2017, 3M Company (US) made an investment of US$ 40 Mn to expand its dialysis membrane production facility. This expansion will help company to increase its customer base and strengthen its foothold in the market.
- In August 2017, Merck Millipore (US) acquired Natrix Separation (Canada), which is hydrogel membrane provider. This acquisition will help Merck Millipore (US) in increasing its product portfolio, customer base, and strengthen its foothold in North America.
- In December 2017, Asahi Kasei Medical announced the construction of a new plant for the spinning of cellulose hollow fiber membranes for its virus removal filters called Planova.
Major Stakeholders
- Koninklijke Philips N.V
- Inogen
- BOC Healthcare
- Precision Medical
- Luxfer Group
- Cryofab
- Responsive Respiratory
- Atlas Copco
More valuable insights on the Medical Membranes Market:
Fact.MR, in its report, offers a market analysis of the global Medical Membranes Market the forecast period through 2021 and beyond. This survey reveals the growth of health area in the Medical Membranes Market with detailed segmentation as follows
- By Material
- Polysulfone PSU & Polyethersulfone PESU
- Hydrophilic polyvinylidene fluoride PVDF
- Polytetrafluoroethylene PTFE
- Polypropylene PP
- Polyethylene
- Modified Acrylics
- By Process Technology
- Ultrafiltration
- Microfiltration
- Nanofiltration
- Reverse Osmosis
- Dialysis
- Gas Filtration
- By Application
- Medical Membranes Used in Pharmaceutical Filtration
- Medical Membranes Used in Haemodialysis
- Medical Membranes Used in Drug Delivery
- Medical Membranes Used in IV Infusion & Sterile Filtration
- Medical Membranes Used in Bio-artificial Processes
Key Questions covered in the Medical Membranes Market Report
- What is the global market worth of medical membranes?
- What are the factors boosting demand for medical membranes?
- Which are the top companies providing medical membranes?
- Which region will largely contribute to revenue growth of medical membranes?
- Which application is expected to increase demand for medical membranes over the assessment period?
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