The bioprocess technology market is estimated to grow at a CAGR of 15.1% from 2023 to 2023, when it is expected to reach US$ 25.9 billion. By the end of 2033, it is anticipated to produce US$ 106.1 billion in revenue.
The global Bioprocess Technology Market is anticipated to register an opulent growth opportunity with an exceptional CAGR of 15.2% during the forecast period from 2021 to 2031. The global bioprocess technology market was valued at US$ 17.3 Billion in 2020 and is projected to generate a revenue of US$ 81.2 Billion by the end of 2031.
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The growth of the market is attributed to the widespread consumer awareness regarding bioprocess technology on the rise and companies focusing on the launch of next-generation bioprocess products and engaging synergistic approaches for distribution and manufacturing through various market consolidation activities.
According to the analysis conducted by Future Market Insights (FMI), the global bioprocess technology market was valued at US$ 17.3 Billion in 2020. The surging focus on alternative medicines and preventive measures combined with ongoing advances in bioprocess technology is driving current sales figures. Increasing expansions and product launches within emerging markets are driving growth in the market. The prominent market players are focusing on the expansion of their manufacturing capabilities with high flexibility and rapid operations. Key market players are also emphasizing the development and launch of next-generation bioprocess products. This is anticipated to not only work favorably for sales of bioprocess technology but also auger the growth in the overall fermentation technology market.
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The present bioprocess product-development pipeline supports an outlook of continued healthy growth. The prominent bioprocess technology and bioprocess analyzer market players are concentrating on new product launches and implementing advanced technology to their present products. Future Market Insights expects the global bioprocess technology market to grow at a CAGR of 15.2% over the forecast period by 2031-end.
Key Takeaways
- The major factor attributing to the preference for the single-use (disposable) bioreactor in the bioprocess industry is the production of different biopharmaceutical therapeutics, using the same facility, in minimum time and with minimum cost.
- The increasing demand for personalized treatment for diseases like cancer is predicted to surge the demand for bioprocess therapies like cell therapy. The reduced cost of genetic sequencing shortly has enabled the production of personalized treatment plants and targeted therapies which are proven to be more effective than less-specific therapies as they ensure to divert their focus on a patient’s genetic and molecular makeup.
- Technologically advanced techniques for process intensification are also being drastically applied to biosimilar manufacturing. The increasing usage of biosimilars in developed countries of Europe and the United States is anticipated to bolster the speed of the bioprocess technology adoption for rapid production of biosimilars.
- Favorable government policies for various start-up companies specifically in developing countries are anticipated to create impressive opportunities for the market players in order to invest in the bioprocess technology market.
- Mergers and acquisitions along with the expansion of manufacturing facilities all over the world are expected to bode well for the market across the projection period. Introducing advanced bioprocess products in order to leverage untapped market opportunities will remain a prominent growth driver over the forthcoming years.
Competitive Landscape
The bioprocess technology market players are predominantly aiming at strategic expansions in order to consolidate growth in the competitive market. The higher the demand for bioprocesses products, the stronger the pipeline, which is anticipated to lead to a phenomenal increase in demand over the global market. Major industry players are focusing on the launch of next generation biotherapeutics to treat serious life-threatening diseases.
More Insights into the Bioprocess Technology Market
In 2021, the U.S. was estimated to account for the maximum revenue of the total market share in the North American region over 89.6%. The dominance of the North American region continues to bestow over the forecast period driven by increasing requirements of upstream equipment. Increased living standards, health consciousness, and increasing disposable incomes are boosting the demand for effective treatments with minimal side effects.
The U.K. market is predicted to exhibit around 12.4% CAGR over the assessment period owing to the use of single-use technologies, personalized treatment of rare diseases, and increased use of biosimilars had led to the rise in the demand for bioprocess technology.
The Indian bioprocess technology market is predicted to surge at an opulent CAGR of 18.6% during the forecast period. It has been anticipated to account for a market share of approximately 52.4% in the South Asian region. Primary factors supporting the growth of India’s bioprocess technology market comprise the production of biopharmaceuticals like recombinant proteins and vaccines.
Key Players
- Thermo Fisher Scientific Inc
- Sartorius
- Merck Kga
- Danaher Corporation (Pall Biotech and Cytiva)
- Merck KgaA
- STADA Arzneimittel AG
- Danaher Corporation
- Applikon Biotechnology B.V. (Getinge)
- Lonza AG, Bio-Rad Laboratories
- Agilent technologies
- Solida Biotech GmBH
- Waters Corporation
Bioprocess Technology Market by Category
Product:
- Upstream Equipment
- Lab-scale Bioreactors
- Scale-up and production products
- BioReactors
- Harvest and collection
- Testing Products
- Probes and Accessories
- Downstream Equipment
- Process analytical testing
- Probes and Accessories
End-User:
- Biotech / Biopharmaceutical Companies
- CDMO / Contract Research Organization
- Research / Academic Institutes
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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