SAN FRANCISCO, June 4, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Medical Membranes – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: January 2021
Executive Engagements: 493
Companies: 48 – Players covered include 3M; Amniox Medical, Inc.; Asahi Kasei; GE Healthcare; Getinge AB; Hangzhou Cobetter Filtration Equipment; Koch Membrane Systems; Merck KGaA; Microdyn-Nadir; Nipro Corporation; Pall Corporation; Sartorius AG; W. L. Gore & Associates and Others.
Coverage: All major geographies and key segments
Segments: Application (Pharmaceutical Filtration, Hemodialysis, Drug Delivery, IV Infusion & Sterile Filtration, Other Applications); Process Technology (Ultrafiltration, Microfiltration, Nanofiltration, Other Process Technologies)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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Global Medical Membranes Market to Reach $3.2 Billion by 2026
Medical membranes are created synthetically for use in separation process across laboratories or healthcare industry. The global market is driven by extensive use of medical membrane in various processes, including the pharmaceutical filtration and hemodialysis. Other medical applications that employ these membranes include sample preparation, infusion therapy, sterile filtration, venting and gas filtration, and pre-filtration among others. In aqueous solutions, medical membrane is used to filter out fungi, fine particles, and bacteria, while providing superior flow and filtration at a faster rate. Moreover, since the recent few decades the market for medical membranes is witnessing tremendous growth owing to the widening of application across various industries such as pharmaceutical, biotechnology, and healthcare among others. Across the healthcare industry, medical membranes find extensive use especially for maintaining and producing high quality products. Other advantages of these membranes include high permeability and selectivity.
Amid the COVID-19 crisis, the global market for Medical Membranes estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$3.2 Billion by 2026, growing at a CAGR of 6.7% over the analysis period. Ultrafiltration, one of the segments analyzed in the report, is projected to grow at a 6.9% CAGR to reach US$1.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Microfiltration segment is readjusted to a revised 6% CAGR for the next 7-year period. This segment currently accounts for a 24.3% share of the global Medical Membranes market.
The U.S. Market is Estimated at $734.2 Million in 2021, While China is Forecast to Reach $349 Million by 2026
The Medical Membranes market in the U.S. is estimated at US$734.2 Million in the year 2021. The country currently accounts for a 32.19% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$349 Million in the year 2026 trailing a CAGR of 9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR while Rest of European market (as defined in the study) will reach US$385.5 Million by the end of the analysis period.
Growth in these regional markets is benefiting from extensive of medical membranes due in part to the rise in need for high purity products for meeting the needs of biotechnological advancements, increase in disease prevalence, and growth of healthcare and life science industry. Other emerging applications include the venting and gas filtration, sample preparation and infusion therapy, pre-filtration, and sterile filtration among others. In addition, medical membranes are finding extensive application across the hemodialysis and pharmaceutical filtration process. Growth in number of patients who are suffering from end-stage renal disease (ESRD) needing dialysis is pushing up demand for membranes for blood purification and filtration. As a result, there is an increased demand for products with high purity due to the expansion of healthcare and pharmaceutical industries, while contributing growth of the medical membranes market globally.
Nanofiltration Segment to Reach $726 Million by 2026
In the global Nanofiltration segment, USA, Canada, Japan, China and Europe will drive the 7.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$370.6 Million in the year 2020 will reach a projected size of US$604.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$70.3 Million by the year 2026, while Latin America will expand at a 9.2% CAGR through the analysis period. More
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SOURCE Global Industry Analysts, Inc.