Medical Membrane Devices Market Estimated size Record Highest CAGR by 2023

The global market for medical membrane devices should grow from $28.6 billion in 2018 to $36.5 billion by 2023 at a compound annual growth rate (CAGR) of 5.0% for the period of 2018-2023.

Report Scope:

The scope of this report encompasses key market analysis, market drivers, market constraints and also competitive developments and trends in the market. BCC Research analyzes each market and its applications, regulatory environment, technology, market projections and market shares. This report involves the medical membrane devices used in the medical device industry. This report mainly deals with the medical membrane devices market covering the total market, which includes hemodialyzers, membrane oxygenators, intravenous infusion (IV) infusion filters, blood microfilters and apheresis systems, and membrane diagnostic devices. The report also covers the use of medical membrane devices for cardiopulmonary treatments, renal diseases, parenteral administration and home care diagnosis. It also covers details regarding healthcare spending and the U.S. healthcare system.

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Excluded from this report are membranes employed in other facets of medicine. These applications and devices include hollow fiber bioreactors employed in the production of monoclonal antibodies, recombinant proteins and drugs, nonseparating membranes used in drug-delivery systems, tissue scaffolding and synthetic skin. In addition, experimental artificial organs (e.g., liver, pancreas, implanted lung); apheresis filtration for stem cell recovery, virus filters and other cross-flow filters used in the production of pharmaceuticals; and blotting membranes (excluding their application in diagnostics) will not be considered in this report.

Report Includes:

- 21 data tables and 18 additional tables
- Detailed overview and an in-depth analysis of the medical membrane device industry structure
- Analyses of global market trends with data from 2017, 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Information on the present and future strategies within the different medical membrane devices market including hemodialyzers, membrane oxygenators, intravenous infusion (IV) filters, blood microfilters, apheresis systems and membrane diagnostic devices
- Segmentation of the global medical membrane device technologies market by technology type, end use, application industry and geographical region
- Technological assessment of the use of medical membrane devices for cardiopulmonary treatments, renal diseases, parenteral administration and home-care diagnosis
- Discussion of the impact of device applications and trends, pricing considerations, research and development activities and environmental influences, along with the performance of the market in terms of setbacks and the needs
- A frame for membrane components of each sector in context with the market dynamics of the overall technology
- Coverage of the latest significant patents by type of device, by company and other categorizations
- Profiles of major companies in the field along with a competitive technology analysis including 3M, Abbott Laboratories, Baxter International Inc., LifeScan Inc. and Toray Industries Inc.

Summary

Membrane-based medical devices account for a significant portion of the medical device market. The utilization of membrane in medical devices on a large scale began more than 40 years ago. Since then, medical membrane devices have found global acceptance in a wide variety of medical procedures, including cardiopulmonary treatments, renal diseases, parenteral administration and home-care diagnosis. The medical membrane device market can be segmented broadly into hemodialyzers, membrane oxygenators, intravenous infusion filters, blood microfilters and apheresis systems, and membrane diagnostic devices.

The global market for medical membrane devices was worth REDACTED in 2017. The market is projected to surpass REDACTED in 2018 and to then approach REDACTED by 2023, increasing at a compound annual growth rate (CAGR) of REDACTED from 2018 to 2023. This forecast growth rate is higher than that projected in the last edition of this report. Most of the difference has resulted from the growth of membrane diagnostics, which accounted for REDACTED of the market by value in 2017, and which BCC Research expects to grow at a CAGR of REDACTED over the next five years. The use of membrane diagnostic devices is expected to increase in coming years as the incidence of chronic diseases (e.g.,diabetes, cardiovascular, cancer) grows. The Diagnostic segment is expected to remain the largest segment of the medical membrane device market in terms of revenue through 2023.

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The U.S. is the largest geographical market for medical membrane devices. The U.S. market leads due to innovations and techniques being developed for better quality of treatment. The Asia-Pacific market has the highest projected CAGR (REDACTED) due to the increased incidence of chronic diseases such as diabetes, cardiovascular diseases and cancer, as well as growing incomes that have placed these devices within the reach of a growing percentage of the population. The European market is projected to grow at a CAGR of 4.8% due to strong currency exchange rates and improving socioeconomic conditions