The Bioprocess Technology Market is estimated to grow at a CAGR of 15.1% from 2017 to 2023, when it is expected to reach US$ 25.9 billion. By the end of 2033, it is anticipated to produce US$106.1 billion in revenue.
The global Bioprocess Technology Market is anticipated to register an opulent growth opportunity with an exceptional CAGR of 15.2% during the forecast period from 2021 to 2031. The global bioprocess technology market was valued at US$ 17.3 Bn in 2020 and is projected to generate a revenue of US$ 81.2 Bn by the end of 2031. The growth of the market is attributed to the widespread consumer awareness regarding bioprocess technology on the rise and companies focusing on the launch of next-generation bioprocess products and engaging synergistic approaches for distribution and manufacturing through various market consolidation activities.
According to the analysis conducted by Future Market Insights (FMI), the global bioprocess technology market was valued at US$ 17.3 Bn in 2020. The surging focus on alternative medicines and preventive measures combined with ongoing advances in bioprocess technology is driving current sales figures. Increasing expansions and product launches within emerging markets are driving growth in the market. The prominent market players are focusing on the expansion of their manufacturing capabilities with high flexibility and rapid operations. Key market players are also emphasizing the development and launch of next-generation bioprocess products. This is anticipated to not only work favorably for sales of bioprocess technology but also auger the growth in the overall fermentation technology market.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-13890
The present bioprocess product-development pipeline supports an outlook of continued healthy growth. The prominent bioprocess technology and bioprocess analyzer market players are concentrating on new product launches and implementing advanced technology to their present products. Future Market Insights expects the global bioprocess technology market to grow at a CAGR of 15.2% over the forecast period by 2031-end.
Key Takeaways
The major factor attributing to the preference for the single-use (disposable) bioreactor in the bioprocess industry is the production of different biopharmaceutical therapeutics, using the same facility, in minimum time and with minimum cost.
The increasing demand for personalized treatment for diseases like cancer is predicted to surge the demand for bioprocess therapies like cell therapy. The reduced cost of genetic sequencing shortly has enabled the production of personalized treatment plants and targeted therapies which are proven to be more effective than less-specific therapies as they ensure to divert their focus on a patient’s genetic and molecular makeup.
Technologically advanced techniques for process intensification are also being drastically applied to biosimilar manufacturing. The increasing usage of biosimilars in developed countries of Europe and the United States is anticipated to bolster the speed of the bioprocess technology adoption for rapid production of biosimilars.
Favorable government policies for various start-up companies specifically in developing countries are anticipated to create impressive opportunities for the market players in order to invest in the bioprocess technology market.
Mergers and acquisitions along with the expansion of manufacturing facilities all over the world are expected to bode well for the market across the projection period. Introducing advanced bioprocess products in order to leverage untapped market opportunities will remain a prominent growth driver over the forthcoming years.
Competitive Landscape
The bioprocess technology market players are predominantly aiming at strategic expansions in order to consolidate growth in the competitive market. The higher the demand for bioprocesses products, the stronger the pipeline, which is anticipated to lead to a phenomenal increase in demand over the global market. Major industry players are focusing on the launch of next generation biotherapeutics to treat serious life-threatening diseases.
More Insights into the Bioprocess Technology Market
In 2021, the U.S. was estimated to account for the maximum revenue of the total market share in the North American region over 89.6%. The dominance of the North American region continues to bestow over the forecast period driven by increasing requirements of upstream equipment. Increased living standards, health consciousness, and increasing disposable incomes are boosting the demand for effective treatments with minimal side effects.
The U.K. market is predicted to exhibit around 12.4% CAGR over the assessment period owing to the use of single-use technologies, personalized treatment of rare diseases, and increased use of biosimilars had led to the rise in the demand for bioprocess technology.
The Indian bioprocess technology market is predicted to surge at an opulent CAGR of 18.6% during the forecast period. It has been anticipated to account for a market share of approximately 52.4% in the South Asian region. Primary factors supporting the growth of India's bioprocess technology market comprise the production of biopharmaceuticals like recombinant proteins and vaccines.
Key Players
Thermo Fisher Scientific Inc
Sartorius
Merck Kga
Danaher Corporation (Pall Biotech and Cytiva)
Merck KgaA
STADA Arzneimittel AG
Danaher Corporation
Applikon Biotechnology B.V. (Getinge)
Lonza AG, Bio-Rad Laboratories
Agilent technologies
Solida Biotech GmBH
Waters Corporation
Bioprocess Technology Market by Category
Product:
Upstream Equipment
Cell culture development products
Cell line development products
Cell Lines
Media, Sera, and other additives
Cell line development kits
Lab-scale Bioreactors
Continuous Stirred Tank Bioreactors
Bubble Column Bioreactors
Airlift Bioreactors
Fluidized Bed Bioreactors
Packed Bed Bioreactors
Photo-Bioreactors
Scale-up and production products
Cell culture media and feeds
BioProcess Containers & Fluid Transfer Solutions
Single-use
Reusable
BioReactors
Single-Use Bioprocess Equipment
Continuous Bioprocess Equipment
Real-Time Bioprocess Equipment
Harvest and collection
Harvest and separation products
Centrifuges for bioprocessing
Storage & Transport Products
v. Production Tanks and Drums
v. Outer Support Containers
Testing Products
Cell Counters & Viability Analysis Systems
Contamination & impurity testing products
Probes and Accessories
Downstream Equipment
Downstream purification
Chromatography Instruments
Chromatography Columns
Others (Resins and accessories)
Buffer preparation and supply
Reagents
mixing systems
Process analytical testing
Host cell residual DNA quantitation
Protein quantitation
Microbial identification
Others
Probes and Accessories
End-User:
Biotech / Biopharmaceutical Companies
CDMO / Contract Research Organization
Research / Academic Institutes