Portland, OR, Jan. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global medical membrane market generated $2.73 billion in 2019, and is estimated to garner $5.81 billion by 2027, witnessing a CAGR of 9.8% from 2020 to 2027. The report provides a detailed analysis of changing market trends, key investment pockets, major segments, value chain, and competitive scenario.
Increase in prevalence of diseases worldwide, developments in the life science, biotechnology, and healthcare industries, and rise in demand for high-purity products drive the growth of the global medical membrane market. In addition, rise in consumption from the medical industry and increase in cases of end-stage renal disease and diabetes supplements the growth. However, long in-process validation processes hinder the market growth. Contrarily, the development of the healthcare industry in emerging countries presents new opportunities in the coming years.
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Covid-19 Scenario:
- Medical membranes have been used majorly in applications such as pharmaceutical filtration, drug delivery, IV infusion & sterile filtration, and hemodialysis. As these applications have been stopped or postponed, the demand for medical membrane has been reduced.
- Research and development activities have been stopped in many countries. In addition, manufacturing activities have been hindered due to lockdown measures taken in many countries.
- The demand-supply gap, shortage of raw material procurement, and price volatility of raw materials are some of the issues that have been occurred during the Covid-19 pandemic.
The report provides detailed segmentation of the global medical membrane market based on material, technology, application, and region.
Based on material, the polysulfone (PSU) & polyether sulfone (PESU) segment accounted for the highest market share in 2019, holding for more than one-third of the total market share, and is expected to maintain its lead position during the forecast period. However, the polytetrafluoroethylene (PTFE) segment is estimated to portray the highest CAGR of 10.9% from 2020 to 2027.
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Based on application, the pharmaceutical filtration segment accounted for the largest market share, contributed to nearly one-third of the total share of the global medical membrane market in 2019, and is estimated to maintain its leadership status by 2027. However, the drug delivery segment is projected to witness the highest CAGR of 10.7% from 2020 to 2027.
Based on region, Europe contributed to the largest share of the market, accounting for more than one-third of the total share in 2019, and will maintain its dominant share during the forecast period. However, Asia-Pacific is expected to witness the fastest CAGR of 10.3% from 2020 to 2027.
Leading players of the global medical membrane market analyzed in the research include Amniox Medical, Danaher Corporation, Asahi Kasei, Koch Membrane Systems, Hangzhou Cobetter Filtration Equipment, Mann+Hummel, Merck Group, W. L. Gore & Associates, Sartorius AG, and 3M Company.
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