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Bioprocess Technology Market to Reach Around US$ 44 Bn by 2026

Bioprocess Technology Market

, 6 December 2018 -- The bioprocess technology market is being positively impacted by rise in flexibility in terms of customization. Easy availability of customized single-use bags and bioreactors/fermenters has led to increased demand for them from end-users.

Bioprocess is defined as a technique that is used to produce biological materials such as genetic microbial strains and commercially useful chemicals through biological processes. Increase in interest in areas of life science such as pharmacology & toxicology, biotechnology, etc. for the development of advanced medicines and vaccines has created the need for advanced bioprocess technology. Applications of bioprocess technology include antibiotics, recombinant proteins, biosimilars, cell culture, cellular analysis, etc.. Based on product, the global bioprocess technology market has been classified into instruments segment and consumables & accessories segment. The global bioprocess technology market was valued at over US$ 20 Bn in 2017 and is anticipated to expand at a CAGR of around 9.0 % from 2018 to 2026 to reach around US$ 44 Bn by 2026.

Read Report Overview: https://www.transparencymarketresearch.com/bioprocess-technology-market.html

Expansion in the biopharmaceutical industry is anticipated to boost the bioprocess technology market. The global biopharma sector continued its positive momentum in 2017. With annual sales of over US$ 200 Bn and industry revenue growing in double digits, the future looks promising for this sector. Sustained patient demand for innovative drugs is expected to continue to play a key role in the growth of the biopharma sector. The bioprocess technology market is being positively impacted by rise in flexibility in terms of customization. Easy availability of customized single-use bags and bioreactors/fermenters has led to increased demand for them from end-users.

Demand for bioprocess technology has increased from both greenfield facilities as well as brown field facilities due to advancements in technology and the momentum is likely to continue. Thus, innovations in product offerings are likely to boost sales of bioprocess technology equipment. For instance, in June 2015, Merck Millipore introduced the Mobius 2000 liter single-use bioreactor, which featured the industry’s first pull-out drawer and self-deploying bag, thereby making assembly installation and inflation safe and easy. Increased demand for vaccine development and increased prevalence rate of several acute and chronic diseases is also driving demand for bioprocess technology.

The global bioprocess technology market is in the growth stage. Major players such as F. Hoffmann-La Roche Ltd, Sartorius Group, Thermo Fisher Scientific, Inc., and Danaher have strong presence in the global bioprocess technology market. In the past few years, the global bioprocess technology market has witnessed high investments by various multinational manufacturers such as Nova Biomedical, Siemens Healthineers and Becton, and Dickinson and Company. The global market is driven by increase in demand for vaccines, expansion in the biopharmaceutical industry, and rise in number of new drug launches. For example, in July 2016, Advanced Instruments introduced OsmoPRO, which is able to analyze several types of samples, such as, blood, urine, cell culture, biological cell, etc.. In February 2018, Advanced Instruments launched Osmo 1 Single Sample Micro-Osmometer, which is expected to increase efficiency, decrease sample turnaround time, and reduce the risk of loss of sample.

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The global bioprocess technology market has been segmented based on product, application, end-user, and region. In terms of product, the market has been classified into instruments and consumables & accessories. The consumables & accessories segment leads the market and is expected to continue to dominate the market during the forecast period. High rate of adoption of cell culture media globally for several research and development studies is driving the segment. Bioreactors was a major sub-segment of the instruments segment in 2017. The culture media sub-segment of the consumables & accessories segment is estimated to expand at a significant CAGR in the coming years. In terms of application, the recombinant proteins segment is expected to expand at a rapid CAGR from 2018 to 2026. Recombinant proteins was a leading segment in 2017 and is likely to account for a major market share during the forecast period.

North America constituted a dominant share of the global bioprocess technology market in 2017. The predominance of the bioprocessing technology market in the U.S. over that in in Canada in 2017 is owing to the high sales of biopharmaceutical products, higher number of academic and research organizations, and higher number of biopharmaceutical manufacturing plants in the U.S.. The market share of Asia Pacific is projected to rise during the forecast period. The region is likely to be significant in terms of revenue in the next few years. Development of health care infrastructure; rise in population; growth of the biotechnology industry; and increase in burden of diseases necessitating diagnostics in Brazil, South Africa, Saudi Arabia, etc. are likely to fuel the market in Latin America and Middle East & Africa.

Key companies operating in the global bioprocess technology market and profiled in the report include F. Hoffmann-La Roche Ltd, Sartorius Group, Thermo Fisher Scientific, Inc., and Danaher. These players are adopting advanced techniques in the development of bioprocess technology to expand product offerings, strengthen geographical reach, increase customer base, and garner market share. In March 2018, Sartorius Group introduced ambr 250 HT perfusion system for cell culture process development at the BPI West 2018 Conference in San Francisco, U.S.. In April 2015, F. Hoffmann-La Roche Ltd., introduced Cedex bioprocess analyzer for vaccine manufacturing.

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Submitted by hawer on Thursday, 6 December 2018 at 8:26 PM
Category: Health Care & Medical
 
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