Medical Membranes Market Size to Reach USD 4.90 Billion by 2028 – Reports and Data
Increase in demand for high-purity selective separation, and rising popularity of dialysis procedures over renal transplants have resulted in boosting the medical membranes market.
The global medical membranes market size is expected to reach USD 4.90 Billion by 2028, registering a CAGR of 7.4% over the forecast period, according to a new report by Reports and Data. Major factors driving medical membranes market revenue growth the rising popularity of dialysis procedures over renal transplants, expansion of healthcare and pharmaceutical industry and the increase in the demand for high-purity selective separation. The primary use of medical membranes is in separation techniques, in which, it is used for separation, concentration, and purification purposes.
Organ failures are becoming more common as people's lifestyles change. As a result, there is a significant need for organ transplants. However, the demand for organ transplants is rapidly outpacing supply. Renal replacement therapy has saved the lives of almost 2 million people around the world and approximately 1.5 million of these 2 million people have needed dialysis. Medical membranes are in high demand due to the increased need of dialysis and this has in turn driven the growth of medical membranes market. Medical membranes are also being driven by the demand for artificial organs that utilize membranes such as pancreases and livers.
Despite the increased demand for medical items and devices, manufacturers of medical membranes face a number of regulatory hurdles as a result of the multi-layered requirements by regulatory bodies. This factor can act as a potential restraint for medical membranes market growth over the coming years.
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Further key findings from the report suggest
- On the basis of material, the Polysulfone (PSU) & Polyether Sulfone (PESU) segment generated the highest revenue in 2020 in the medical membranes market with a growth rate of 7.6% during the forecast period. The extensive use of PSU and PESU in the functioning of different end-use industries like pharmaceutical, biotechnology, life sciences, and healthcare sectors contribute to the higher revenue generated by this segment.
- On the basis of scope, the therapeutic use segment yielded a higher revenue in 2020 in the medical membranes market with a growth rate of 6.3% during the forecast period. The increasing incidence of chronic diseases like cardiovascular, renal diseases and increased awareness among healthcare providers about applicability of therapeutic use of medical membranes in disease management contributes to the segment's higher revenue.
- On the basis of process technology, the nanofiltration (NF) segment is projected to register the fastest growth rate during the forecast period. Various potential medical and biological applications of nanofiltration such as includes isolating, sensing, sorting and releasing biological molecules contributes to its higher growth rate.
- On the basis of application, the pharmaceutical filtration segment accounted for the largest market share in 2020 in the medical membranes market, with the third-highest growth rate during the forecast period. Factors like expansion in pharmaceutical sector and increase in medicated drug's production contribute to the segment's large market share.
- Asia Pacific region is expected to register the fastest CAGR of 8.5% during the forecast period, accounting for the third-largest share in the medical membranes market in 2020. Factors like increasing number of chronic diseases, rise in foreign direct investment in the healthcare sector, increase in the number of dialysis center and higher disposable income are some of the contributing factors spurring market expansion in this region.
- Key participants in the medical membranes market include Sartorius AG, Asahi Kasei Corporation, 3M Company, Pall Corporation, Merck Millipore (Emd Millipore), Hangzhou Cobetter Filtration Equipment, GE Healthcare, Microdyn-Nadir GmbH, Koch Membrane Systems and W. L. Gore & Associates, Inc.
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Segments Covered in the Report:
For the purpose of this report, Reports and Data has segmented the medical membranes market according to material, scope, process technology, application, and region:
Material Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Polyvinylidene Fluoride (PVDF)
- Polysulfone (PSU) & Polyether Sulfone (PESU)
- Polypropylene (PP)
- Polytetrafluoroethylene (PTFE)
- Modified Acrylics
Scope Outlook (Revenue, USD Billion; 2018 – 2028)
- Diagnostic use
- Therapeutic use
Process Technology Outlook (Revenue, USD Billion; 2018 – 2028)
- Microfiltration (MF)
- Ultrafiltration (UF)
- Nanofiltration (NF)
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Diagnostic use
- Therapeutic use
- Pharmaceutical Filtration
- Iv Infusion & Sterile Filtration
- Drug Delivery
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Regional Outlook (Revenue, USD Billion; 2018 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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