ALBANY, New York, March 19, 2019 /PRNewswire/ -- Transparency Market Research (TMR) predicts that the global medical membrane market has the highest degree of competition. The medical membrane market is extremely investment intensive and large players are able to invest for research and development (R&Ds), marketing, and improving the distribution channel. Thus, the large players in the market are dominating in the overall market and are expected to remain dominant by the end of the forecast period. Key players such as Pall Corporation, 3M, Merck KGaA, General Electric Company, and Asahi Kasei Corporation are some of the players dominating the global medical membrane market.
According to TMR, the global medical membrane market is projected to collect revenue of US$6483.24 mn by 2026-end from an initial revenue value at US$2900.45 mn in 2017. The market is expected to expand with a magnificent CAGR of 9.5% over the forecast period from 2018 to 2026.
Based on the material, the Polyvinylidene fluoride (PVDF) segment dominated the global medicine membrane market in 2017. Owing to the vast applications across the separation of mediums in the pharmaceutical, biotechnology, life sciences, and health care sectors, the segment is expected to remain dominant over the forecast period. Based on the region, North America dominated the global medical membrane market in 2017 owing to the presence of strong players in the market.
Growing Popularity of Medical Membrane to Propel Market Growth
Medical membranes have primary applications in drug delivery, tissue regeneration, diagnostic devices, bio-separation, and artificial organs. The membranes are used as coatings for medical devices and generally employed for improved drug delivery, tissue engineering, and hemodialysis. Growing adoption of medical membrane technology as essential in medical applications in order to save several lives is propelling its demand and is likely to drive the growth of the medical membrane market over the forecast period.
The medical membrane market is gaining traction due to the growing elderly population and growing patient pool suffering from an end-stage renal disease (ESRD) is boosting demand for advanced treatment options. This demand is resulting in a growth of the global medical membrane market. Additionally, the growing availability of advanced diagnostic facilities coupled with the rising occurrence of chronic diseases including hypertension and diabetes globally is reflecting positively on growth of medical membrane market. Moreover, growing investment in healthcare globally and primarily from underdeveloped and developing countries is boosting the adoption of advanced facilities such as a medical membrane, which is fuelling growth of the medical membrane market.
Compatibility Issues of Biological Fluids to Propel Market Growth
Despite these factors, medical membrane and the biomaterials are included in the therapeutic or diagnostic systems, which include some biological fluids. These biological fluids are required to have compatibility with blood and have to be in required size and shape for effective results, preventing infection, and blood clotting. Low availability of the perfect medical membrane and its limited shelf life is creating a need for long in-process of validation. The absence of these validating procedures is restraining growth of the global medical membrane market. Nonetheless, the factors such as advancements in the medical technology, health care industries, growth of pharmaceutical and rising demand for high-purity materials are expected to offer lucrative opportunities for growth of the medical membrane market over the forecast period.
This information is encompassed in the report by TMR, titled, "Medical Membrane Market (Material - Polysulfone and Polyether Sulfone, Polyvinylidene Fluoride (Hydrophobic Polyvinylidene Fluoride, Hydrophilic Polyvinylidene Fluoride), Polytetrafluoroethylene, Polypropylene, Modified Acrylics; Filtration Type - Ultrafiltration, Microfiltration, Nanofiltration; Application - Pharmaceutical Filtration, Hemodialysis, Drug Delivery, Intravenous (IV) Infusion and Sterile Filtration) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026."
For the study, the medical membrane market has been segmented as follows:
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