A lead analyst at AMR highlighted that the medical membrane market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
Allied Market Research published a research report on the medical membrane market. The findings of the report states that the global market for medical membrane generated $2.73 billion in 2019, and is projected to reach $5.81 billion by 2027, witnessing a CAGR of 9.8% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on the drivers, restrains, and opportunities to help the market players devise several growth strategies. Rise in the prevalence of various diseases worldwide, developments in the life science, biotechnology, and healthcare industries, and increase in demand for high-purity products drive the growth of the global medical membrane market. In addition, surge in consumption from the medical industry and spike in cases of end-stage renal diseases and diabetes supplement the growth even more. On the other hand, long in-process validation processes hinders the market growth to some extent. However, developments in the healthcare sector especially in emerging countries present new opportunities in the coming years.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the medical membrane market globally. The outbreak of the pandemic gave way to a steep decline in the application of medical membrane in applications such as pharmaceutical filtration, drug delivery, IV infusion & sterile filtration, and hemodialysis, since they have either been postponed or adjourned. This, in turn, impacted the global medical membrane market negatively. Research and development activities were also disrupted in the majority of countries. The demand-supply gap, shortage of raw material procurement, and price volatility of raw materials were the prime issues that hindered the market growth.
“Asia-Pacific is expected to witness significant growth, owing to presence of large population, which is highly susceptible to various chronic and infectious diseases. In addition, rise in prevalence of diabetes, upsurge in demographics, and expansion of medical care industry are expected to notably contribute toward the medical membrane market in this region.” said Eswara Prasad, Manager, Chemical and Materials at Allied Market Research.
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The report offers detailed segmentation of the global medical membrane market based on material, technology, application, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue-generating segments to accomplish growth in the future.
By material, the polysulfone (PSU) & polyether sulfone (PESU) segment contributed to the major market share in 2019, holding more than one-third of the total market revenue, and is projected to retain its dominance during the forecast period. However, the polytetrafluoroethylene (PTFE) segment is projected to cite the fastest CAGR of 10.9% from 2020 to 2027.
By application, the pharmaceutical filtration segment garnered the highest market share, holding nearly one-third of the total market share in 2019, and is estimated to maintain the lion’s share by 2027. On the other hand, the drug delivery segment is projected to witness the highest CAGR of 10.7% from 2020 to 2027.
By region, Europe held the largest share of the market, generating more than one-third of the global market in 2019, and will rule the roost during the forecast period. Simultaneously, the market across Asia-Pacific is expected to cite the fastest CAGR of 10.3% from 2020 to 2027.
The leading market players analyzed in the global medical membrane market report include Amniox Medical, Asahi Kasei, Hangzhou Cobetter Filtration Equipment, Koch Membrane Systems, Danaher Corporation, Mann+Hummel, Merck Group, W. L. Gore & Associates, Sartorius AG, and 3M Company.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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