Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research's recent publication based on a market study of membrane technology evaluates the overall technology and assesses the application of this technology in various industries such as pharmaceutical, biopharmaceutical, and life sciences from 2014 through 2019. The report, titled 'Global Market of Membrane Technology in Pharmaceutical, Biopharma and Life Sciences - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2019', contains all the essential data pertaining to the current market drivers, market dynamics, restraints, trends, and recent developments across the globe. Analysts studying this market state that the global membrane technology market for pharmaceutical, biopharma, and life sciences is estimated at US$6,461.3 million in 2013 and is further expected to grow at a CAGR of 9.1% during the forecast period 2014 to 2019. This will help the market reach an expected value of US$10,886 million by 2019.
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Owing to the rapid surge in research and development activities in the pharmaceutical, biopharma, and life sciences industries, the global membrane technology market has undergone significant growth in the past few years. As a result, there has been a rise in pharmaceutical production in many regions around the world. Today, membrane technology finds application in cell culturing and examination, virus removal, lab-scale DNA, drug screening, and protein separation and analysis. Adoption of the single-use disposable technique for biopharmaceutical applications, enforcement of strict regulations in the pharma industry, and focus on product innovation and product modification have grown in recent times. Such factors have boosted the global membrane technology market for pharmaceutical, biopharma, and life sciences in major regions of the world.
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In Europe, many organizations are involved in the implementation and expansion of membrane technology. In the recent past, membrane technology has become a rapidly growing sector in Europe, especially in various industries such as pharmaceutical, biopharmaceutical, and life sciences. Organizations in this region, such as the European Membrane House (EMH) and European Desalination Society (EDS), support the usage of membrane technology in companies, industries, universities, government agencies, and research institutes. Rapid development of membrane technology in Europe makes this region the second largest market in the world. North America, on the other hand, has remained the largest market for membrane technology in the world. North America accounted for around 41% of global pharmaceuticals sales in 2012, stated the European Federation of Pharmaceutical Industries and Associations. Since the U.S. is the largest market for pharmaceutical and biopharmaceutical products in the world, 80% of the firms in the country conduct research and development of innovative medicines and drugs to meet the pharmaceutical needs. The entire pharmaceutical market in the U.S. is strictly regulated by the Food and Drug Administration (FDA).
According to TMR analysts, Asia Pacific will be the fastest developing region in the membrane technology market by 2019. Due to increased health awareness, rising prevalence of chronic diseases, extensive patient pool, and increased spending on medicines and medical facilities, Asia Pacific is expected to grow at a CAGR of 13% from 2014 to 2019. The report also covers information on some of the key players in the global market for membrane technology in pharmaceutical, biopharma and life sciences. 3M Healthcare and GE Healthcare are the two leading players, while Novasep, Merck Millipore, Sartorius, and Koch Membrane System are some others.The global market for membrane technology in pharmaceutical, biopharma, and life sciences is segmented as follows:
Membrane Technology Market, By Technology
Membrane Technology Market, by Geography
Rest of the World (RoW)
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Source:Transparency Market Research