Globally, the pharmaceutical membrane technology market is projected to showcase notable growth during the forecast period, mainly due to increasing pharmaceutical production, rising research and development (R&D) activities, and growing demand for generic drugs in the developing nations.
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Based on product, the pharmaceutical membrane technology market is sub-segmented into coated cellulose acetate, nylon, mixed cellulose ester (MCE) membrane filters, polytetrafluoroethylene (PTFE) membrane, polyvinylidene fluoride (PVDF) membrane, and other membrane filters. Of these, MCE membrane filters hold the largest share in the global market, as they are biologically inert and most commonly used in analytical and research applications.
There are different types of membrane technologies that have been developed for analytical and research applications, and pharmaceutical production. These pharmaceutical membrane technologies include ultrafiltration, chromatography, microfiltration, nanofiltration, reverse osmosis, and others. Among the various types of technologies, nanofiltration is expected to observe significant growth in the coming years in the pharmaceutical membrane technology industry. The growth is mainly driven by the advancements in nanofiltration technology, and its increasing adoption by the pharmaceutical companies. Moreover, nanofiltration membranes are most commonly used in wastewater management and have the ability to remove particles as small as 0.002 to 0.005µm in diameter.
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According to a report published by the Indian Brand Equity Foundation (IBEF), the Indian pharmaceutical sector accounted for around 2.4% of the global pharmaceutical industry in terms of value and 10% in terms of volume in 2016. Moreover, the pharmaceutical industry in India is expected to expand at a CAGR of 12.8% over 2015-2020, and is expected to attain a value of $55 billion over 2008-2020. Additionally, India has become a major destination for generic drug manufacturing and manufactures over 60,000 generic brands across 60 therapeutic categories, which further propels the growth of the pharmaceutical membrane technology market.
Growing pharmaceutical industry, rising pharmaceutical production, increasing R&D investments, and growing demand of generic drugs are some of the major factors driving the growth of the global pharmaceutical membrane technology market.
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Globally, increasing prevalence of chronic and infectious diseases is fostering the growth of the pharmaceutical industry by spurring the demand of pharmaceutical products, which further plays a substantial role in the growth of pharmaceutical membrane technology industry. According to the report “The Pharmaceutical Industry and Global Health, Facts and Figures 2017”, published by the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the global pharmaceutical industry was valued at $997 billion in 2014.
Some of the key players operating in the pharmaceutical membrane technology market include Merck KGaA, Sartorius AG, General Electric Company, 3M Company, Danaher Corporation, Lenntech BV, Koch Membrane Systems Inc., and Graver technologies LLC.
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