Globally, the pharmaceutical membrane technology market is projected to showcase notable growth during the forecast period, mainly due to increasing pharmaceutical production, rising research and development (R&D) activities, and growing demand for generic drugs in the developing nations.
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Based on product, the pharmaceutical membrane technology market is sub-segmented into coated cellulose acetate, nylon, mixed cellulose ester (MCE) membrane filters, polytetrafluoroethylene (PTFE) membrane, polyvinylidene fluoride (PVDF) membrane, and other membrane filters. Of these, MCE membrane filters hold the largest share in the global market, as they are biologically inert and most commonly used in analytical and research applications.
Europe is expected to hold the second-largest share in the pharmaceutical membrane technology market. Increasing pharmaceutical production, presence of large number of pharmaceutical companies, and rising government support in the form of funds and grants are the major factors driving the growth of the market. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), the pharmaceutical industry invested $41.8 billion on the R&D annually, which in turn would boost the demand for pharmaceutical membrane technologies and products in the region.
Growing pharmaceutical industry, rising pharmaceutical production, increasing R&D investments, and growing demand of generic drugs are some of the major factors driving the growth of the global pharmaceutical membrane technology market.
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Globally, increasing prevalence of chronic and infectious diseases is fostering the growth of the pharmaceutical industry by spurring the demand of pharmaceutical products, which further plays a substantial role in the growth of pharmaceutical membrane technology industry. According to the report “The Pharmaceutical Industry and Global Health, Facts and Figures 2017”, published by the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the global pharmaceutical industry was valued at $997 billion in 2014.
Some of the key players operating in the pharmaceutical membrane technology market include Merck KGaA, Sartorius AG, General Electric Company, 3M Company, Danaher Corporation, Lenntech BV, Koch Membrane Systems Inc., and Graver technologies LLC.
Source: P&S Intelligence