The global market for upstream bioprocessing equipment was valued at $7.75 billion in 2022 and is expected to grow at a 12.90% CAGR between 2022 and 2032. The market is expected to be worth US$ 26.08 billion by 2032.
Factors that Influence
As the prevalence and incidence of chronic diseases has grown, so has the demand for more medications to treat them. With technological innovation, equipment, and a well-established production system, it is possible to provide high-quality biologic medications while increasing productivity. By increasing adoption, this boosts the market for upstream bioprocessing equipment.
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Market Developments
Along with increased demand for cell therapy research, major upstream bioprocessing equipment market drivers include drug discovery, antibody synthesis, monoclonal antibody manufacturing, and recombinant production.
The high cost of establishing an upstream processing unit, its maintenance because the current goal is to eliminate contamination, and the area required for the setup are significant impediments to market growth.
Global demand for upstream bioprocessing equipment is growing. With double-digit growth over the previous year, the United States and Europe have been the strongest regions for the growth of upstream process equipment. Single-use bioprocessing units have grown dramatically in the United States when compared to continuous upstream bioprocessing equipment.
Emerging economies such as Asia-Pacific, the Middle East, and Africa, in addition to Europe and the United States, have significant potential for the growth of upstream bioprocessing equipment. The beverage, food, and pharmaceutical industries in Japan are diversifying into high-value products, which has boosted Japanese market growth. The Japanese government also provides financial assistance for R&D to market players of upstream bioprocessing equipment for expansion, allowing the industry to thrive.
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Key firms engage in a variety of activities to maintain market competitiveness and increase their revenue share. GE Healthcare, Merck KGaA, Boehringer Ingelheim Pharma GmbH & Co.KG, Thermo Fisher Scientific, BiOZEEN, and Katalyst Bio Engineering are the market leaders.
Upstream Bioprocessing Equipment Market: Drivers and Restraints
As the prevalence and incidence of chronic diseases have increased, there is a need to increase the production of substances to cure them. With innovation in technology, equipment with the well-established production system, providing high-quality biologic drugs and increased productivity is possible. This, in turn, increases the usage of upstream processing equipment which drives the biopharmaceutical market.
Along with this increase in the need for cell therapy research, drug discovery, antibody production, monoclonal antibody and recombinant productions are also the major drivers for the upstream bioprocessing equipment market. However, the high cost incurred in setting up an upstream processing unit, its maintenance as the current challenge is to eliminate the contamination and the space required for the setup are the major restraining factors for the growth the Upstream Bioprocessing Equipment.
Regional Overview of the Upstream Bioprocessing Equipment Market
Globally, the market for bioprocessing equipment is expanding. The United States and Europe have been the strongest regions for the growth of upstream process equipment, with double-digit growth over the previous year. When compared to continuous bioprocessing systems, single-use bioprocessing units have grown significantly in the United States.
Along with Europe and the United States, emerging markets such as Asia Pacific, the Middle East, and Africa have significant potential for growth in the upstream bioprocessing equipment market. The Japanese beverage, food, and pharmaceutical industries are diversifying into high-value products, fueling the growth of upstream bioprocessing equipment in Japan. The Japanese government also provides financial support for research and development to industry players for growth, allowing the industry to thrive.
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