Mar 01,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Medical Membranes Market.
It was estimated prior to this unanticipated outbreak that the Medical Membranes Market was expected to grow at a CAGR of 9.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Medical membranes are the devices that are used extensively in medical treatments. They are made from organic and inorganic polymers, and offer high selectivity and permeability in medical applications.
Medical Membranes are made up of different material types, such as PTFE, PVDF, PP, PSU, PESU, modified acrylics, and others, that are used in various applications, such as pharmaceutical filtration, hemodialysis, drug delivery, IV infusion & sterile filtration, bio-artificial processes, others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the process technology type, the medical membranes market is segmented as ultrafiltration, microfiltration, nanofiltration, reverse osmosis, dialysis, gas filtration and others. The ultrafiltration process technology is expected to lead the medical membranes market owing to the increasing use of ultrafiltration process technology in pharmaceutical filtration.
Based on the application type, the medical membranes market is segmented as pharmaceutical filtration, hemodialysis, drug delivery, IV infusion & sterile filtration, bio-artificial processes and others. The pharmaceutical filtration application segment is likely to command the medical membranes market during the forecast period. This growth is attributed to the growing production of medicated drugs and expansion of healthcare facilities.
In terms of regions, Europe is the leading market for medical membranes. The prime factor in the growth of the medical membranes market in Europe is the increasing aging population (above 65 years), growing End-Stage Renal Disease (ESRD) patient pool, increasing improved diagnostic facilities, and rising incidences of chronic diseases, such as diabetes and hypertension. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Some of the major medical membrane manufacturers are-