Extensive use of consumables & accessories and instruments increasingly among CMOs and CROs expanding profitable avenues; single-use systems gathering traction in bioprocess technology market
Continuous advancements in bioprocessing of recombinant proteins bolstering massive lucrative opportunities; North America market to witness sizeable revenue growth during forecast period, boosted by uptake of high-throughput bioprocessing systems
ALBANY, N.Y., April 20, 2022 /PRNewswire/ — Rise in production of bioprocessing of recombinant proteins has spurred the developments of bioprocess technology, which in turn has been widely used in therapeutics, vaccines, consumables, and diagnostic reagents. The bioprocess technology market has been making constant strides on the back of the growing investments by contract research organizations (CROs), and contract medical organizations. The global valuation is anticipated to reach US$ 53.7 Bn by 2031, expanding at CAGR of 8.3% during 2021–2031.
Extensive adoption of single-use system has influenced the revenue size of the bioprocess technology market, assert the authors of the current in-depth study by TMR. Innovation in bio-process hardware and their integration with advanced software in both continuous biomanufacturing system and in single-use systems, are enriching the prospects.
The introduction of state-of-the art bioprocess systems is expected to pave the way for biopharmaceuticals for cell-level and DNA-level treatment. Prevalence of infectious diseases and the high burden of chronic diseases in global population are bolstering new developments of products in the bioprocess technology market.
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Key Findings of Bioprocess Technology Market Study
Rise in Production of Biopharmaceuticals Driving Uptake of Consumables & Accessories: Bioprocessing technologies including system, consumables, and accessories find extensive use in biopharmaceuticals. In particular, the increasing investments in biopharmaceutical outsourcing over the past few decades has spurred the revenue growth of the bioprocess technology market. Expanding product pipeline of biotherapeutics such as vaccines in the pharmaceutical industry has been enriching profitable opportunities, finds the TMR study.
Single-use Systems Gathered Traction Due to Cost-effectiveness: The authors of the TMR study on the bioprocess technology market observed that single-use systems have become preferred option for both pre-clinical and commercial product manufacturing in the biopharmaceutical industry. In particular, these systems are gaining adoption among small-scale facilities notably in the CMOs, and has generated significant sales opportunities in the bioprocess technology market. The growing popularity can be ascribed to their cost-effectiveness. However, the study found that stainless steel bioreactors are still pervasively used in commercial biopharmaceutical manufacturing, especially since they are cost-effective for high-volume product manufacturing. In North America market, the demand for such systems have been considerable.
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R&D into Advanced Bioprocessing Technologies Supporting Production of Recombinant Proteins: Rise in production of recombinant proteins has been expanding incredible avenues for stakeholders in the market to capitalize on in the near future. The segment held a leading share of the global bioprocess technology market. The increasing application of advanced instruments in the bioprocessing of recombinant proteins is further catalyzing the market prospects.
Bioprocess Technology Market: Key Drivers
Strides in development of that wide range of biopharmaceuticals that are used in the treatment of infectious and chronic diseases is a key driver of the bioprocess technology market. Recent impetus to industry investments emanates from advancements in recombinant DNA technologies.
Specialty products, industrial chemicals, and value-added food and feed products are propelling the revenue expansion of the bioprocess technology market.
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Bioprocess Technology Market: Regional Growth Dynamics
North America held a leading share of the global bioprocess technology market in 2020. The growth during the forecast period of 2021 -2031 is expected to be propelled by the adoption of advanced bioprocess technologies in the production of biopharmaceuticals, antibiotics, and vaccines.
Asia Pacific is emerging as a market with massive potential opportunities. Revenue growth in the regional market is underpinned by continuous development of bioprocessing technologies to cater to the demand in various end-use industries.
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Bioprocess Technology Market: Key Players
Some of the key players in the bioprocess technology market are F. Hoffmann-La Roche Ltd., Nova Biomedical, Advanced Instruments, Lonza, Eppendorf AG, Danaher Corporation, Becton, Dickinson and Company, Sartorius AG, GE Healthcare, Siemens Healthineers, and Thermo Fisher Scientific, Inc.
Global Bioprocess Technology Market: Segmentation
Bioprocess Technology Market, by Product
Consumables & Accessories
Others (Centrifugation, Spectrometer, and Filtration)
Bioprocess Technology Market, by Application
Bioprocess Technology Market, by End-user
Contract Manufacturing Organizations
Contract Research Organizations
Food & Feed Industry
Academic & Research Organizations
Bioprocess Technology Market, by Region
Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Bioprocess Analyzers Market: The global bioprocess analyzers market is driven by increase in innovations and technological advancements in bioprocess analyzers, focus on R&D activities by pharmaceutical and biotechnology companies, and growth of the life science industry.
Bioprocess Validation Market: The production process within the pharmaceutical industry undergoes a series of recalls, reworks, and product failures. This factor necessitates the presence of a system for evaluating the viability of an experiment or product development channel. The global bioprocess validation market has expanded on account of advancements in the field of pharmaceutical manufacturing.
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