Albany, NY -- (SBWIRE) -- 01/14/2019 -- Globally, the membrane technology market is witnessing significant growth due to increasing research and development and production in pharmaceutical, biopharmaceutical and life sciences industries. There has been a substantial rise in the number of membrane technology applications, including separation and purification of drug components, in pharmaceutical, biopharmaceutical and life sciences industries. Thus, rise in pharmaceutical production and increasing number of membrane technology applications worldwide are driving growth of membrane technology in pharmaceutical, biopharmaceutical and life sciences industries.
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In addition, stringent regulations and usage of single-use disposable technique are playing a major role in the growth of the 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. The global membrane technology market for pharmaceutical, biopharmaceutical and life science industries is expected to be USD 7,029.9 million in 2014. It is likely to grow at a CAGR of 9.1% during 2014 to 2019 to reach USD 10,886 million in 2019.
North America is the largest market, and biopharmaceutical industry is the largest segment in the global market for membrane technology in pharmaceutical, biopharmaceutical and life sciences industries. However, Asia is the fastest growing region in the membrane technology market. Additionally, nanofiltration is the fastest growing technology in the global market for membrane technology in pharmaceutical, biopharmaceutical and life sciences industries.
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The membrane technology market in pharmaceutical, biopharmaceutical and life sciences industries accounted for USD 4,590 million in revenue in 2009.
Biopharmaceuticals commanded the largest share in the overall membrane technology market in 2009. It was estimated to grow at a CAGR of 9% from 2009 to 2013.
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TABLE 1 Global market of Membrane Technology for pharmaceutical, biopharmaceutical and life sciences industries size, by geography 2014-2019 (USD millions)
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