NEWARK, Del., Nov. 17, 2022 (GLOBE NEWSWIRE) — The global bioprocess technology market is expected to register an opulent growth opportunity at an exceptional CAGR of 15.2% during the forecast period of 2021 to 2031. The global bioprocess technology market was valued at US$17.3 billion in 2020 and is projected to generate US$81.2 billion in revenue by the end of 2031. The growth of the market is attributed to increasing consumer awareness of bioprocess technology and companies focused on bringing to market next generation bioprocess products and appealing synergistic approaches to distribution and manufacturing through various market consolidation activities.
According to Future Market Insights (FMI) analysis, the global bioprocessing technology market was valued at US$17.3 billion in 2020. The increasing focus on alternative medicine and preventive measures combined with continuous advances in bioprocess technology is driving the current sales figures. Increasing expansions and product launches in emerging markets are driving the growth of the market.
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The leading market participants are concentrating on expanding their production capacities with high flexibility and fast processes. Key market players are also emphasizing the development and launch of next-generation bioprocess products. This is expected to not only have a positive impact on bioprocess technology sales, but also propel the growth of the overall fermentation technology market.
The current bioprocess product development pipeline supports prospects for continued healthy growth. The leading players in the bioprocess technology and bioprocess analyzer market are focused on introducing new products and implementing advanced technologies into their current products. Future Market Insights expects the global bioprocess technology market to grow at a CAGR of 15.2% during the forecast period to the end of 2031.
The central theses
- The main reason for the preference of the single-use bioreactor (disposable bioreactor) in the bioprocessing industry is the production of different biopharmaceutical therapeutics using the same equipment in minimal time and with minimal costs.
- Increasing demand for personalized treatment of diseases such as cancer is expected to increase demand for bioprocess therapies such as cell therapy. The reduced cost of genetic sequencing has shortly enabled the production of personalized treatment plants and targeted therapies that have been shown to be more effective than less specific therapies because they ensure their focus is on a patient’s genetic and molecular make-up.
- Technologically advanced process intensification techniques are also being drastically applied to the production of biosimilars. The increasing use of biosimilars in developed countries of Europe and the United States is expected to accelerate the adoption of bioprocess technologies for rapid production of biosimilars.
- Favorable government policies for various start-up companies are expected to create impressive opportunities for market players to invest in the bioprocess technology market especially in developing countries.
- Mergers and acquisitions along with the expansion of manufacturing facilities around the world are expected to bode well for the market over the projection horizon. The introduction of advanced bioprocess products to capitalize on untapped market opportunities will remain a prominent growth driver in the coming years.
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The market participants in bioprocess technology are primarily aiming for strategic expansions in order to consolidate growth in the competitive market. The higher the demand for bioprocess products, the stronger the pipeline, which is expected to lead to a phenomenal increase in demand in the global market. Major industry players are focused on bringing to market next-generation biotherapeutics to treat serious life-threatening diseases.
More insights into the bioprocess technology market
In 2021, it is estimated that the United States will account for the maximum sales of the total market share in the North American region of over 89.6%. The dominance of the North American region will continue to be driven by the rising demand for upstream equipment during the forecast period. Rising standards of living, health awareness and rising disposable incomes are increasing the demand for effective treatments with minimal side effects.
The UK market is forecast to grow at approximately 12.4% CAGR over the assessment period as the adoption of single-use technologies, personalized treatment for rare diseases and increased use of biosimilars have led to an increase in demand for bioprocess technology.
The Indian bioprocess technology market is expected to grow at a lavish CAGR of 18.6% during the forecast period. In the South Asian region, a market share of around 52.4% is expected. Among the major factors supporting the growth of the Indian bioprocess technology market is the production of biopharmaceuticals such as recombinant proteins and vaccines.
Bioprocess Technology Market by Category
- Upstream Equipment
- Cell culture development products
- Products for cell line development
- cell lines
- Media, serums and other additives
- Cell Line Development Kits
- Cell culture development products
- Laboratory scale bioreactors
- Continuous Stirred Tank Bioreactors
- bubble column bioreactors
- airlift bioreactors
- fluidized bed bioreactors
- fixed bed bioreactors
- Scale-up and production products
- cell culture media and feed
- BioProcess containers and liquid transfer solutions
- Disposable Bioprocess Equipment
- Continuous Bioprocess Equipment
- Real Time Bioprocess Equipment
- harvest and collection
- Harvest and Separation Products
- Centrifuges for bioprocessing
- storage and transport products
v. Production tanks and barrels
v. Outer support tanks
- testing products
- Cell Counters & Viability Analysis Systems
- Products for contamination and contamination testing
- probes and accessories
- Downstream Equipment
- Downstream cleaning
- Chromatography Instruments
- chromatography columns
- Others (resins and accessories)
- Buffer preparation and deployment
- Downstream cleaning
- Process analytical tests
- Quantification of residual host cell DNA
- protein quantification
- Microbial Identification
- probes and accessories
- Biotech / Biopharmaceutical Company
- CDMO / Contract Research Institute
- Research / Academic Institutes
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Table of Contents
1.1. Global Market Outlook
1.2. Trends on the demand side
1.3. Trends on the supply side
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
2.3. inclusion and exclusion
3. Major Market Trends
3.1. Key trends affecting the market
3.2. Method innovation / development trends
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