The global medical membranes market size is expected to reach USD 4.93 Billion by 2028, registering a CAGR of 0.0743 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.
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Some key highlights of the report:
- 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 Players covered in this report are
Medtronic, Ethicon (subsidiary of Johnson Johnson), Cousin Biotech, EnteroMedics, Inc., and USGI Medical, Inc. VIVUS, Inc., Arena Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Novo Nordisk A/S, Allergan Plc
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
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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