The Membrane Technology Market is all set to hack the digital turbulence frequency In Upcoming Years. Digital technologies are the transformation of legacy approaches to contemporary approaches. With an ever-increasing demand for real-time, precise, and instant response from the data for creating new-fangled services and products, or exchanging the ones that exist, and formulating novel business models, digital transformation is there to witness a geometric progression in every vertical in the upcoming period.
According to a new market report published by Persistence Market Research “Global Market Study on Membrane Technology in Pharmaceutical, Biopharma and Life Sciences: North America to Witness Highest Growth by 2019” the global membrane technology market for pharmaceutical, biopharma and life sciences is estimated at USD 7,029.9 million in 2014 and is expected to grow at a CAGR of 9.1% from 2014 to 2019, to reach an estimated value of USD 10,886.0 million in 2019.
The membrane technology market in pharmaceutical, biopharma and life sciences is growing due to increased research and development and production in pharmaceutical, biopharmaceutical and life sciences industries. Moreover, stringent regulations and usage of single-use disposable technique are also playing a major role in growth of the membrane technology market.
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- Pall Corporation.
- Merck Millipore.
- GE Healthcare Life Sciences.
- Koch Membrane Systems Inc.
- TriSep Corporation.
- Amazon Filters Ltd.
- Advantec MFS.
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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.
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.
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.
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Similarly, 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.
However, Asia is the fastest growing region in the membrane technology market due to continuous development in pharmaceutical and biopharmaceutical industries.
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