The track etched membrane market is expected to reach USD 813.1 million by 2023 from USD 476.0 million in 2018, at a CAGR of 11.3% from 2018 to 2023.

The key factors driving the 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 the major factors that are expected to restrain the growth of this market during the forecast period.

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In this report, the track etched membrane market is segmented on the basis of product, material, application, end user, and region. By product, the market is segmented into membrane filters, cartridge & capsule filters, and other track etched membrane products (pressure compensation units, degassing inserts, vented caps, syringe filters, and plasmapheresis filters). The membrane filters segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to factors such as increasing preference for these membranes over conventional treatment during manufacturing as it enables the production of high-quality products.

Based on material, the track etched membrane market is segmented into polycarbonate, polyethylene terephthalate, and polyimide membranes. The polyimide track etched membranes segment is projected to witness the highest growth rate during the forecast period. The ability to maintain excellent physical, electrical, and mechanical properties at both low and high temperatures is one of the major factors supporting the high growth of this segment.

Based on application, the track etched membrane market is segmented into cell biology, microbiology, analytical testing, and other applications. The analytical testing application segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing regulations about environmental protection, active participation of governments and regulatory bodies to monitor environmental conditions, and privatization of environmental testing services.

Geographically, the track etched membrane market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is expected to witness the highest CAGR during the forecast period. The growth of the track etched membrane market in Asia Pacific can be attributed to the growth of pharmaceutical & biopharmaceutical industry industries.