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(I-AutoNewsWire.com, September 30, 2020 ) Growth of this market include increasing R&D spending in the pharmaceutical and biopharmaceutical industries and increasing purity requirements among end users of track etched membranes. However, the high cost of production and the limited supply of track etched Membranes are major factors that are expected to restrain the growth of this market during the forecast period.
According MarketsandMarkets, a new market research report – [140 Pages Report] The track etched membrane market was valued at 428.4 million in 2017 and is projected to grow at a CAGR of 11.3% during the forecast period, to reach to USD 813.1 million by 2023.
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The commercial production of track etched membranes is almost always a secondary operation, and the production time is dependent on the time consumed by the primary operation of the facility. Facilities for beaming or irradiation are limited and in most cases are operated by government agencies, universities, or research laboratories. Although track etched membranes can be produced with a precisely determined pore size, shape, and distribution, their conventional production is very expensive for large-scale separation processes. Heavy ion irradiation of thin polymer films at a nuclear reactor or large accelerator facilities, which involves large capital costs, is generally the key initial manufacturing stage for track etched membranes. This cost is prohibitive or unaffordable for most consumers of Industrial Filtration systems. Moreover, considering the high costs, end users such as diagnostic laboratories and research institutes prefer the use of low-cost alternatives such as depth filters. This is one of the major factors restraining the growth of the track etched membrane market.
The report analyzes the global track etched membrane market, by product, material, application, end user, and region. By product, the membrane filters segment is expected to lead the track etched membrane market by 2023. The large share of this segment can be attributed to the increasing applicability of membrane filters in sterilizing, final filtration, sample preparation, filtration of aqueous and organic solutions, fluid monitoring, and venting and gas filtration.
By application, the track etched membrane market is segmented into cell biology, microbiology, analytical testing, and other applications. The cell biology segment is estimated to hold the largest share of the track etched membrane market in 2018. The growing adoption of cell culture-based vaccines, increasing demand for monoclonal antibodies, rising funding for cell-based research, and the launch of advanced cell culture products are factors expected to drive the cell biology segment.
Based on material, the track etched membrane market is segmented into polycarbonate, polyethylene terephthalate, and polyimide membranes. The polycarbonate track etched membranes segment is expected to lead the track etched membrane market during the forecast period. The large share of this segment can be attributed to the growing adoption of these membranes in cell biology and analytical testing and their increasing applications in academic and research institutes and in pharmaceutical and food industries.
Geographically, the global track etched membrane market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is expected to continue to dominate the track etched membrane market till 2023, followed by Europe and Asia Pacific. The large share of the North American market can be attributed to the presence of global pharmaceutical manufacturers, a large number of quality control laboratories for the food & beverage industry, and growing concern towards improving the quality of food products and the medical devices that utilize track etched membranes.
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Key players in the global track etched membrane are GE Healthcare (US), Danaher (US), Corning (US), Merck (Germany), it4ip (Belgium), Sterlitech (US), Oxyphen (Switzerland), Sarstedt (US), BRAND GMBH (Germany), Sartorius (Germany), SABEU (Germany), Zefon International (US), GVS (Italy), Thermo Fisher Scientific (US), Eaton (Ireland), Greiner Bio-One (Austria), MACHEREY-NAGEL (Germany), Avanti Lipids Polar (US), SKC (US), Advantec (Canada), Avestin (Canada), CHMLAB (Spain), Scaffdex (Finland), and Graver Technologies (US).
Mr. Aashish Mehra