The medical membranes market is projected to grow from USD 2.13 Billion in 2017 to USD 3.31 Billion by 2022, at a CAGR of 9.2% during the forecast period. Membranes act as a selective barrier to allow the passage of certain constituents and retain others. Medical membranes are increasingly used for various processes, such as separation, filtration, and venting, in the pharmaceutical, life sciences, and medical industries. They play a significant role in pharmaceutical filtration and hemodialysis. Increase in aging population and expansion of the healthcare and pharmaceutical industries are key factors projected to drive the growth of the medical membranes market.
Increasing healthcare expenditure and rising demand for improved healthcare services are additional factors driving the demand for medical membranes. Key companies operating in the medical membranes market are focused on the adoption of both, organic and inorganic growth strategies, such as expansions, acquisitions, and new product launches.
The expansions strategy accounted for a major share of all growth strategies adopted by market players between 2015 and 2017.
Active Players in the Medical Membranes Market
Merck Millipore (US), Asahi Kasei (Japan), and 3M (US) are among key players that have adopted organic and inorganic growth strategies to strengthen their foothold in the medical membranes market. These companies expanded their production facilities and acquired other businesses between 2015 and 2017. 3M (US) is one of the most active players in the medical membranes market.
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In 2017, 3M (US) invested USD 40.0 million to expand its dialysis membrane production facility. This expansion strategy enabled the company to expand its customer base and strengthen its foothold among several medical device manufacturers. In February 2015, 3M (US) acquired the Polypore’s Separation Media business, which helped 3M to enhance its existing line of products.
In August 2017, Merck Millipore (US) acquired Natrix Separations (Canada), a leading provider of hydrogel membranes. This acquisition helped Merck Millipore increase its product portfolio, enhance its customer base, and strengthen its foothold in North America. In July 2016, Merck Millipore (US) established a new facility in the US, which will include a training center and a customer collaboration laboratory. This expansion strategy helped the company develop new and customized products for different applications in the healthcare sector.
Medical Membranes Market by material (PTFE, PVDF, PP, PSU & PESU), Process Technology (UF, MF, NF), Application (Pharmaceutical Filtration, Hemodialysis, Drug Delivery, IV Infusion & Sterile Filtration), and Region-Global forecast to 2022
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