Global Membrane Technology in Pharma, Biopharma, And Life Sciences Market Report, published by Variant Market Research, forecast that the global market was valued at $8,025 Million in 2016 and is expected to reach $16,375 Million by 2024, growing at a CAGR of 9.3% from 2016 to 2024. In geographical segments, Asia Pacific and Europe are expected to grow at a CAGR of 10.4% and 9.8%, respectively, during the forecast period 2016-2024.
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Factors such as advancement of process technologies and material science, environmental regulations, challenges related to sanitation and water supply, and exploration of new applications are driving the growth of the market. However, limitation of membrane materials, effects of membrane fouling, high operational and high investment cost may limit the market from growing. Moreover, presence of various filtration techniques such as microfiltration, ultrafiltration, and nanofiltration beneath membrane technology which has augmented its acceptance in biopharmaceutical, pharmaceutical, and life science is projected to have several growth opportunities for the market in the coming years.
The global membrane technology in pharma, biopharma and life science market is majorly categorized into application, technology and geography. Wherein, application segment comprises of biopharmaceuticals, pharmaceuticals, and life sciences. Among which, biopharmaceuticals dominated the market with largest share, followed by pharmaceuticals in the year 2016. The technology segment is further classified into microfiltration, ultrafiltration, nanofiltration, chromatography and others. Nanofiltration is estimated to achieve the fastest CAGR during the forecast period 2016 - 2024.
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Geographically, the global membrane technology in pharma, biopharma and life science market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). In 2016, North America accounted for the largest market share of 41.7%, followed by Asia-Pacific with 24.8%. While, Asia-Pacific is projected to grow with fastest CAGR during the forecast period i.e. 2016-2024, owing to, adoption of advanced technologies, and increasing applications in food & beverage industries.
Major market players comprise of Merck Millipore, TriSep Corporation, GE Healthcare Life Sciences, 3M Company, Pall Corporation, Amazon Filters Ltd., Sartorius AG, Novasep, Inc., and Koch Membrane Systems Inc., Advantec MFS Inc., among others.
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