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 pharmaceutical membrane technology market.
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.
Download sample copy of this report: http://bit.ly/2QQfh8S
The report also stated that the research-based pharmaceutical industry invests over $149.8 billion on R&D per year. Thus, this rise in production and research activities has increased the demand for membrane technologies which is expected to fuel the growth of pharmaceutical membrane technology market in the coming years.
Additionally, with the increasing prevalence of chronic and lifestyle diseases, and rising demand of generics drugs, the number of pharmaceutical companies has also increased in the world. This increases the demand of membrane filtration technology for the manufacturing and research activities to develop high quality pharmaceutical preparations, which in turn boosts the growth of the pharmaceutical membrane technology market. However, high operational cost and membrane fouling are some of the factors hindering the growth of the market.
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.
This post was originally published on Financial Sector