Medical Membrane Market is projected to reach $5.81 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027

According to a new report published by Report Ocean titled, “Medical Membrane Market by Material, Technology and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global medical membrane market was valued at $2.73 billion in 2019, and is projected to reach $5.81 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027.

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Medical membranes are currently widely used in the medical industry to protect and manufacture high-purity products. Owing to their increased usage in various industries such as pharmaceuticals, biotechnology, and healthcare, the medical membrane market has witnessed exponential growth over the last few decades. The dominant advantages provided by medical membranes are permeability and high selectivity. The development of the pharmaceutical and healthcare industries coupled with alarming rise in prevalence of various diseases such as diabetes worldwide is expected to significantly contribute toward the growth of the global medical membrane market during the forecast period.

Some of the key factors that are expected to propel the medical membrane market on a global scale are advances made in biotechnology, rise in disease prevalence worldwide, expansion of the life science & healthcare industries, increase in use of a medical membrane in the medical industry, and upsurge in demand for high-purity products. Furthermore, rise in cases of kidney failure and diabetes is expected to fuel the need for medical membranes. In addition, numerous benefits provided by the medical membrane, such as the filtration method to recover materials, including concentrated proteins and enzymes, are expected to drive the demand and popularity of medical membranes across the globe.

In 2019, on the basis of material, the polysulfone (PSU) & polyether sulfone (PESU) segment garnered the highest market share of around 34.8%, and is projected to maintain the same trend during the forecast period. Polyethersulfone (PES) is considered one of the well-known polymeric materials to be used to make ultrafiltration (UF), microfiltration (MF), and gas separation membranes, as it exhibits unique properties such as high thermal, mechanical, and hydrolytic strength in both hot & wet environment.

In 2019, the nanofiltration segment accounted for around 29.2% of the global medical membrane market share. This is attributed to the fact that nanofiltration is performed at reduced operating pressures with increased flow rates.

The pharmaceutical filtration segment is projected to dominate the medical membrane market during the forecast period. Rise in drug production and a strong biologics pipeline are expected to fuel the growth of the global pharmaceutical membrane filtration market.

Some of the key players operating in the global medical membrane market are Amniox Medical, Asahi Kasei, Danaher Corporation, Hangzhou Cobetter Filtration Equipment, Koch Membrane Systems, Merck Group, Mann+Hummel, Sartorius AG, W. L. Gore & Associates, and 3M Company.

Key Findings Of The Study:

Depending on material, the polysulfone (PSU) & polyether sulfone (PESU) segment emerged as the global leader with more than 34.8% share in 2019.
By technology, the nanofiltration segment dominated the global medical membrane market with around 29.2% global market share in 2019.
On the basis of application, the pharmaceutical filtration segment dominated the global medical membrane market with around 31.0% global market share in 2019.
Countries such as the U.S., China, and India are emerging as an investment-centric hub, due to wide scope in manufacturing sector.
Impact Of Covid-19 On The Global Medical Membrane Market

The world is battling the contagious COVID-19 pandemic, which has spread across the globe.
Some of the major economies suffering the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
Medical membrane is primarily used in pharmaceutical filtration, IV infusion & sterile filtration, bio-artificial processes, drug delivery, and hemodialysis; and as an impact of national lockdown, these sectors were experiencing a slight decline in growth rates.
In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
The demand supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the chemical industry during the COVID-19 pandemic.

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This release was published on openPR.