NEWARK, Delaware, Nov. 17, 2022 (GLOBE NEWSWIRE) — The global bioprocessing technology market is expected to witness a significant growth opportunity, registering a high CAGR during the forecast period 2021-2031 15.2%. The global bioprocessing technology market was valued at USD 17.3 billion in 2020 and is expected to generate revenue of USD 81.2 billion by the end of 2031. The growth of the market is attributed to the rising general consumer awareness about bioprocessing technology and companies focusing on launching next-generation bioprocessing products, adopting a synergistic approach to distribution and manufacturing through various market consolidation activities.
According to an analysis conducted by Future Market Insights (FMI), the global bioprocessing technology market was valued at USD 17.3 billion in 2020. High focus on alternative medicines and preventive measures coupled with continuous advancements in bioprocessing technologies are driving the current sales figures. Increasing expansion and product launches within emerging markets are driving the market growth.
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Prominent market players are focusing on expanding their manufacturing capabilities with high flexibility and speedy operations. Key market players are also emphasizing the development and launch of next-generation bioprocess products. This is expected to not only benefit the sales of bioprocessing technologies but also boost the growth of the overall fermentation technologies market.
The current bioprocess product development pipeline supports the outlook for continued healthy growth. Prominent bioprocess technologies and bioprocess analyzers market players are focusing on new product launches and incorporating advanced technologies into their current products. Future Market Insights expects the global bioprocessing technology market to grow at a CAGR of 15.2% during the forecast period by the end of 2031.
- A major factor in the preference for single-use (single-use) bioreactors in the bioprocessing industry is the use of the same facility to produce different biopharmaceutical therapeutics in the shortest time and at the lowest cost.
- Rising demand for personalized treatment of diseases such as cancer is expected to surge the demand for biological process therapies such as cell therapy. The reduction in the cost of gene sequencing is soon enabling the production of personalized therapeutic devices and targeted therapies that are proven to be more effective than less specific therapies because they ensure that attention is shifted to a patient’s genetic and molecular makeup.
- Technologically advanced techniques for process intensification are also widely used in biosimilar manufacturing. It is expected that developed countries in Europe and the United States will increasingly use biosimilars, which will speed up the rapid production of biosimilars using bioprocessing technology.
- Favorable government policies targeting various start-up companies in developing countries are expected to create impressive opportunities for market players to invest in the bioprocessing technology market.
- Mergers and acquisitions along with expansion of manufacturing facilities across the globe are expected to favor the market throughout the forecast period. Introduction of advanced bioprocess products to capitalize on untapped market opportunities will remain the key growth driver in the coming years.
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The key objective of the bioprocessing technology market players is strategic expansion to underpin the growth of the competitive market. The higher the demand for bioprocess products, the stronger the pipeline is expected to lead to a significant increase in demand in the global market. Major industry players are focusing on launching next-generation biotherapeutics to treat serious and life-threatening diseases.
In-depth understanding of the bioprocessing technology market
The U.S. is expected to account for the largest revenue in the North America region with a total market share of over 89.6% by 2021. The dominance of the North America region continues to flourish over the forecast period, driven by rising demand for upstream equipment. Rising living standards, rising health awareness, and rising disposable income are driving the need for effective treatments with minimal side effects.
The UK market is expected to grow at a CAGR of approximately 12.4% during the assessment period owing to increased demand for bioprocessing technologies owing to the use of single-use technologies, personalized treatments for rare diseases, and increased use of biosimilars.
The Indian bioprocessing technology market is expected to surge at a CAGR of 18.6% during the forecast period. It is estimated to have a market share of approximately 52.4% in South Asia. The major factors supporting the growth of the bioprocessing technology market in India include the production of biopharmaceuticals such as recombinant proteins and vaccines.
Bioprocessing Technology Market by Category
- upstream equipment
- Cell Culture Development Products
- Cell Line Development Products
- cell line
- Media, serum and other additives
- Cell Line Development Kits
- Cell Culture Development Products
- laboratory scale bioreactor
- Continuous Stirred Tank Bioreactor
- Bubble column bioreactor
- Airlift Bioreactor
- fluidized bed bioreactor
- Packed bed bioreactor
- Scale up and produce products
- Cell Culture Media and Feed
- Bioprocessing Vessels and Fluid Transfer Solutions
- Disposable Bioprocessing Equipment
- Continuous Bioprocess Equipment
- Real-Time Bioprocess Devices
- harvest and collect
- Harvesting and Separating Products
- Bioprocessing centrifuges
- Storage and transportation products
F.Production Tanks and Barrels
F.external support container
- test product
- Cell counter and viability analysis system
- Contamination and Impurity Testing Products
- Probes and Accessories
- downstream equipment
- downstream purification
- Chromatographic instrument
- Chromatographic column
- Others (resin and accessories)
- Buffer preparation and supply
- downstream purification
- Process Analysis Test
- Host cell residual DNA quantification
- protein quantification
- Microbial identification
- Probes and Accessories
- Biotech/Biopharma Company
- CDMO/Contract Research Organization
- Research/Academic Institutions
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Table of contents
1.1. Global Market Outlook
1.2. Demand-side trends
1.3. Supply-side trends
1.4. Analysis and Recommendations
2. Market overview
2.1. Market Coverage/Classification
2.2. Market Definition/Scope/Restrictions
2.3. Inclusion and exclusion
3. Key market trends
3.1. Key trends affecting the market
3.2. Method innovation/development trend
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