Market Size of Transfer Membrane Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 1.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Transfer Membrane Market Analysis
The Transfer Membrane Market is expected to register a CAGR of 1.5% over the forecast period.
The emergence of new and evolving SARS-CoV-2 variants fueled the need for change in the form of innovative and more adaptable diagnostic approaches for SARS-CoV-2 infection detection. On the other hand, due to new variations and variable symptoms across infected persons, creating rapid and sensitive testing tools became difficult. According to the data from the Journal Annals of Medicines published in February 2022, novel vaccines and medicines were continually being explored to elicit an immune response capable of effectively targeting SARS-CoV-2 and its variations. Such studies indicated the need for new therapeutics for targeting diseases. Therefore, it was observed that the pandemic had a significant impact on the market studied. However, currently, the market has reached a pre-pandemic nature and is expected to witness strong growth in the coming years.
The market is primarily driven by the increasing investment in R&D by pharmaceutical and biopharmaceutical companies and the development of new therapeutics for targeting chronic diseases. According to the European Commission Industrial R&D Investment prediction, data updated in December 2021, the United States planned to spend more than USD 679 billion on research and development in 2022. It was anticipated that China would spend roughly USD 551.1 billion on R&D in 2022. Hence, the high investment in R&D is believed to propel market growth as R&D opens doors for diagnostic research.
Furthermore, the growing prevalence of autoimmune diseases and infectious diseases and the increasing focus on the development of novel drug therapies based on DNA and RNA are projected to boost market growth over the forecast period. As per the data from CDC and National Lupus Registries published in April 2021, an estimate of the number of systemic lupus erythematosus cases in the United States was 72.8 per 100,000 person-years. Therefore, the growing prevalence rate of autoimmune diseases is expected to increase R&D activities; in turn, the demand for transfer membranes is anticipated to upsurge. Eventually, these factors are expected to fuel the target market growth over the forecast period.
However, the availability of alternative methods for protein transfer with high efficiency and automation is anticipated to hamper the market growth.
