Membrane Market to Grow by USD 3.65 Billion During 2021-2025|Increasing Incidence of Diabetes to Emerge as a Key Driver|Technavio
NEW YORK, March 30, 2021 /PRNewswire/ --
The membrane market is expected to grow by USD 3.65 billion during 2021-2025, expanding at a CAGR of over 7%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Membrane Market: Increasing incidence of diabetes to drive growth.
Membranes are being extensively used in pharmaceutical and healthcare applications due to the rising prevalence of obesity and the growing geriatric population. The increasing prevalence of ESRD globally is expected to boost the demand for medical membranes. With the growing number of ESRD patients, the demand for medical membranes is also increasing significantly. The most common type of diabetes is type 2 diabetes. Hemodialysis is a procedure, which aids in eliminating toxins from the blood to decontaminate it. This will consequently increase the number of individuals with renal disorders, which will foster the demand for hemodialysis and consequently boost the growth of the global membranes market.
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As per Technavio, the advantages of membrane technology in the pharmaceutical and medical industries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Membrane Market: Advantages of membrane technology in pharmaceutical and medical industries
In the pharmaceutical and medical industry, membranes are used for the sterilization of pharmaceutical and medical products. Earlier, membrane separation technologies such as reverse osmosis, ultrafiltration, and microfiltration were used to concentrate and purify small and large molecules. Nowadays, membrane technologies are used in a wide range of applications, including separation, concentration, and purification purposes. Advantages such as selective permeability, suitable for operating at room temperature, product generation with intense sterility, high degree automation for cleansing wastewater, minimal mass, and environment friendliness will ncrease the demand for membranes in pharmaceutical and medical applications.
"The growth in the pharmaceuticals industry and the establishment of many industries will further boost market growth during the forecast period", says a senior analyst at Technavio.
Membrane Market: Major Vendors
- Asahi Kasei Corp.
- DuPont de Nemours Inc.
- GEA Group Aktiengesellschaft
- General Electric Co.
- Koch Industries Inc.
Membrane Market: Segmentation Analysis
This market research report segments the membrane market by technology (Reverse Osmosis, Microfiltration, Ultrafiltration, Pervaporation, and Others), application (Water and wastewater treatment, Food and Beverage, Pharmaceutical and medical, Chemical Processing, and Others), and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the membrane market in 2021, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as growing acceptance of wastewater management.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Report Page: https://www.technavio.com/report/membrane-market-industry-analysis
SOURCE Technavio
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