Albany, NY -- (SBWIRE) -- 11/24/2017 -- Transparency Market Research (TMR) has recently published a market study on the global membrane technology market, projecting the market to exhibit a CAGR of 9.10% during the period from 2014 to 2019 and reach a market value of US$10.8 bn by the end of the forecast period.The report, titled "Membrane Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2019", states that the worldwide membrane technology market stood at US$6.4 bn in 2013.
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The global rise in the pharmaceutical industry gives a significant boost to the worldwide market for membrane technology. The increasing demand for single-use disposables in biopharmaceuticals also triggers the demand for membrane technology in recent times. However, membrane fouling, together with high investments as well as soaring operation cost, has adversely affected this market at large.Strict regulations pertaining to environmental safety, however, is likely to drive the market's growth over the forecast period, the report states.The market report analyzes the global membrane technology market on the basis of technology and end users. Based on technology, it is classified into the markets for ultrafiltration, microfiltration, nanofiltration, and chromatography. The nanofiltration technology market is reporting the fastest growth in the global market for membrane technology at present.
The pharmaceutical, biopharma, and life sciences industries are the main end users of membrane technology, among which, the biopharma market has acquired the leading position in the global market. Collectively, the biopharma and the life sciences industries have generated US$4.5 bn in 2009, states the research report.According to the market study, the global market for membrane technology is spread across Asia Pacific, North America, Europe, and the Rest of the World. Among these, North America has emerged as the dominant regional market for membrane technology. In 2012, the North America market for membrane technology occupied around 41% of the overall market.
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The U.S. is the biggest market for membrane technology in North America. The presence of a large pharmaceutical companies in the U.S. is fuelling the demand from the membrane technology market in the region.Europe is the second largest regional market for membrane technology, notes the study. The rise in research and development activities in the field of membrane technology in Europe is giving a significant impetus to the market in the region.
Analysts project North America to maintain its dominance in the coming years. However, it is Asia Pacific that is the demonstrating the fastest growth in the global membrane technology market, the report says. The rising awareness regarding health, together with a large patient pool as well as increasing prevalence of chronic diseases, is likely to propel the membrane technology market in Asia Pacific to expand at a CAGR of 13.0% during the forecast period.Sartorius, Merck Millipore, 3M Co., GE Healthcare Life Sciences, Novasep, Koch Membrane System, Trisep Corp., Advantec MFS, and Amazon Filters are the key market players in the global membrane technology market, states the research report.
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