Membrane separation or filtration is a familiar approach in engineering that separates the products through permeable membranes. This is a widely used technology across the global biotechnology and pharmaceutical industries. Growth in the global pharmaceutical industry is the strongest driver for the membrane filtration market for pharmaceutical industry. Rising applications and demand from developed regions like North America and Europe also play significant role in the current scenario of the industry. Asia Pacific is also strengthening the overall conditions of the market. Advancing technology within the industry is also presenting exciting business opportunities for the potential investors who are interested in this market.
Segmentation in Membrane Filtration Market
The global membrane filtration market for pharmaceutical industry is segmented on the basis of the types of applications, technology and demand from different geographic regions. Applications segment is further sub-segmented into protein purification, cell separation, virus removal, sterilization, and water management. Technologies used in the industry include ultrafiltration, microfiltration, nanofiltration, reverse osmosis, and ion exchange. Different geographic segments studies in the market research include North America, Asia Pacific, Europe and regions from rest of the world. Analysis of all these segments provides valuable insight about the latest trends, progress, growth prospects, investment opportunities, competitive outlook and threats within the industry.
Driving Factors and Forecasting Reports
As mentioned before, rising demand from biotechnology and pharmaceuticals industries are driving growth in the global market. Membrane filtration is coming across as one of the most commonly used technologies across various pharmaceutical industries. This trend is helping the established as well as new businesses to build their business within the current market scenario. Technological advancements and growth in the applications are also driving the industry at a significant rate. Apart from the developed countries, emerging markets of Asia Pacific, Middle East, Africa, and Latin America are making strong inroads within the market. Growth in the pharmaceutical companies within these regions is driving the industry at healthy rate.
According to the market research reports, the global membrane filtration market for pharmaceutical is estimated to grow at a projected CAGR of over 16%, to reach past $7,960.3 million by 2018. The market was valued at $3,691.9 million in 2013. Based on geographic regions, Europe is dominating the global market. Europe is followed by North America and Asia Pacific. The rest of the world region is expected to make slow but steady progress. Increasing adoption within Asia Pacific is also a strong reason for the growth of this industry within these developing markets.