Global Membrane Technology Market: Demand Set to Increase Further in Biopharmaceutical Industry, reports TMR
GE Healthcare Life Sciences, 3M, and Pall Corporation have consistently been the leading providers of membrane technology at a global scale. GE and 3M have had quite a high rate of success despite having a smaller global presence than competitors such as Merck Millipore and Sartorius.
According to a research report released by Transparency Market Research, the global membrane technology market is likely to hold a highly intense competitive landscape by 2019. The competitive rivalry is set to increase over time due to a relatively slower growth in demand when compared to the influx of new entrants. The product differentiation in membrane technology is also relatively low, allowing consumers to purchase stocks from any preferred local brand.
The global market for membrane technology is expected to reach US$10.88 bn by the end of 2019, after its revenue successfully advances at a projected CAGR of 9.1% from 2014 to 2019. By the end 2016, the global membrane technology market is expected to reach US$8.35 bn. The technology type of biopharmaceuticals is expected to continue being the leading segment in 2019, with an expected revenue of US4.32 bn generated by then. Meanwhile, nanofiltration is expected to be the leading segment in terms of growth rate, armed with a projected CAGR of 11% from 2014 to 2019.
North America Dominates Demand for Membrane Technology
Geographically, the global membrane technology has consistently been dominated by North America, owing to the dominant position and demand held by the U.S. This region has been a huge spender on the pharmaceutical industry, which is one of the key application areas of membrane technology. Europe comes in second as far as the demand volume for membrane technology is concerned. This region is showing a high rate of research and development efforts, giving is a significant boost in the recent past. Asia Pacific is expected to ramp its demand for membrane technology up by a significant amount owing to its rapid rate of industrial evolution and a growing awareness rate of the benefits of membrane technology.
Biopharmaceutical Industry Shows Great Need for Single-use Disposable Systems
“Technological advancements in the biopharmaceutical industry have pushed for the development of innovative protein-based technologies, including the injectable forms of synthetic chemical entities, cytotoxic drugs, gene therapy drugs, and vaccines. Their development has helped secure a high demand for membrane technology due to the need by biopharmaceutical companies to obtain easy to use, safe, and accurate disposable systems.
Membrane Fouling Still an Issue in Membrane Technology
The leading cause for users to avoid using membrane technology is membrane fouling. The regular use of membranes imparts the deposition of unwanted waste materials that reduce the effectiveness of the membrane over time. As a result, all membrane technologies are known to have a short lifespan if not maintained properly.
“A lot can still be done in the global membrane technology market in the form of innovation. While the pharmaceutical industry is the leading end user of membrane technology, there is a great scope for its use in other industries as well,” adds the analyst.
The information presented in this review is based on a Transparency Market Research report, titled, “Membrane Technology Market in Pharmaceutical, Biopharma and Life Sciences - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2019.”
Key segments of the Global Membrane Technology Market
Global Membrane Technology Market, by Technology:
Global Membrane Technology Market, by Geography:
- North America
- Rest of the World
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