The global transfer membrane market is projected to reach 187.9 million by 2023 from USD 174.8 million in 2018, at a CAGR of 1.5%. Factors such as increasing public and private funding for life science research, the significantly high prevalence of target diseases across the globe, and increasing R&D spending by pharmaceutical and biotechnology companies are expected to propel the growth of transfer membrane market.
As of 2017, some of the prominent players in the transfer membrane market were Merck KGaA (US), Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), GE Healthcare (US), PerkinElmer (US), Pall Coporation (US), Advansta (US), GVS (Italy), Santa Cruz Biotechnology (US), Abcam (UK), ATTO Corporation (Japan), Carl Roth (Germany), Macherey-Nagel (Germany), Azure Biosystems (US), and Axiva Sichem Biotech (India),.
Analysis of the developments in transfer membrane market during period of 2015 and 2018 shows that acquisitions was the most widely adopted growth strategy by the players in the market. Players adopted this strategy to strengthen their market position.
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In 2017, Merck KGaA (US) held the leadership position in the transfer membrane market. The company has a broad portfolio of transfer membrane. Apart from its broad product portfolio, the company also has a strong geographical presence and a wide customer base in emerging economies, including Brazil, India, and China. The innovation-centric company is continuously working towards developing new products and conducting research activities, For instance, its new Center in Boston, US supports the R&D activities dedicated to life science research. In recent years, Merck has also adopted the inorganic growth strategy of acquisitions to enhance its presence in the market.
Thermo Fisher is the second leading players in bioinformatics service market. The company focuses on providing a wide range of transfer membranes, which cater to the requirement of various transfer membrane-based studies. The company maintains its position in the market via its strong geographical presence, wide product portfolio, and consistent research and development activities.