Albany, NY -- (SBWIRE) -- 07/03/2014 -- A new market report “Global Market of Membrane Technology in Pharmaceutical, Biopharma and Life Sciences – Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2019, the global membrane technology market for pharmaceutical, biopharma and life sciences is estimated at USD 6,461.3 million in 2013 and is expected to grow at a CAGR of 9.1% from 2014 to 2019, to reach an estimated value of USD 10,886 million in 2019.
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The membrane technology market is witnessing significant growth due to increasing research and development and production in pharmaceutical, biopharmaceutical and life sciences industries. Thus, rise in pharmaceutical production and increasing number of membrane technology applications worldwide are driving the growth of membrane technology in pharmaceutical, biopharmaceutical and life sciences industries.
Additionally, stringent regulations and usage of single-use disposable technique are playing a major role in growth of Transparency Market Researchthe membrane technology market. Presence of various filtration techniques such as ultrafiltration, nanofiltration and microfiltration under membrane technology has increased its acceptance in pharmaceutical, biopharmaceutical and life science industries for separation and purification of components and biomolecules, over conventional techniques.
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However, the market faces some restraints such as effects of membrane fouling, high operational and investment cost and limitation of membrane materials.As a result, the market is expected to grow at a CAGR of about 9.1% during 2014-2019.
Globally, North America is the largest market for membrane technology in pharmaceutical, biopharmaceutical and life sciences industries. The U.S. is the world’s largest market for pharmaceutical and biopharmaceutical products. According to the European Federation of Pharmaceutical Industries and Associations, North America accounted for about 41% of global pharmaceutical sales in 2012. Pharmaceutical and biopharmaceutical firms in the U.S. conduct 80% of research and development of innovative medicines in the world. The pharmaceutical market in the U.S. is highly regulated by the Food and Drug Administration (FDA).
In Europe, membrane technology is a rapidly growing sector with many associations, organizations and societies actively involved in expansion and implementation of this technology in various industries including pharmaceutical, biopharmaceutical and life sciences. Organizations in Europe such as the European Desalination Society (EDS), and European Membrane House (EMH) promote membrane technology usage in universities, companies, research institutes and government agencies.
However, Asia is the fastest growing region in the membrane technology market due to continuous development in pharmaceutical and biopharmaceutical industries. The region is witnessing double-digit growth (average annual growth rate of 13%) in pharmaceutical and biopharmaceutical industries due to a large population base, increasing healthcare awareness, rising incidence of chronic diseases and higher government healthcare spending.
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GE Healthcare and 3M Healthcare are the leading players in the global market of membrane technology in pharmaceutical, biopharma and life sciences. Other major players of the membrane technology market include Sartorius, Merck Millipore, Koch Membrane System, Novasep and others.
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