Pune, India, April 06, 2023 (GLOBE NEWSWIRE) -- The global Bioprocess Technology Market is exhibiting a huge growth with steady CAGR. Driving factors include cost-effectiveness, convenience and accessibility. Technology advancements and presence of government policies will further boost the global market.
The global Bioprocess Technology Market size is projected to experience dynamic growth in the forthcoming years owing to the rising number of ageing population across the world, finds Fortune Business Insights™ in its report, titled “Bioprocess Technology Market, 2023-2030”.
Notable Industry Development
March 2019: Merck KGaA announced the introduction of the BioContinuum Buffer Delivery Platform, which is a combined solution for more efficient buffer delivery for next-generation bioprocessing that offers a way to streamline buffer management.
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historical Data for | 2019 to 2021 |
Key Takeaways:
- Demand for bioprocess technology in pharma will drive market growth.
- Investments in bioprocessing technology R&D will foster market growth.
- The global market is anticipated to be led by North America.
- The largest share is anticipated to come from Europe.
Drivers & Restraints-
Extension of Bioprocess Technologies to Promote Growth
The growing research and development investments for the advancement of bioprocessing technology are predicted to facilitate the healthy growth of the market. The rising government support for the production of biofuel in various countries is expected to spur lucrative business opportunities for the market. The growing demand for biosimilar and biopharmaceutical products is expected to improve the potential of the market in the forthcoming years. Bioprocessing is a combination of biology, mathematics, and engineering which consists of activities such as designing bioreactors, biocatalysts, substrates, and media volume production, downstream processing, and purification. The growing need for bioprocess technology in the pharmaceutical sector is predicted to enable speedy expansion of the market. The growing incidence of chronic diseases such as cancer is expected to foster the need for biotechnology, which, in turn, will boost the healthy growth of the market. The heavy demand for vaccines especially in the time of pandemics is predicted to foster healthy growth of the market.
Nevertheless, strict supervisory policies and high technological costs are factors predicted to dampen the growth of the market.
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The report on the bioprocess technology market contains:
- In-depth analysis of the regions
- Latest market drivers and restraints
- Latest industry developments
- Competitive landscape
Regional Analysis-
Rising Prevalence of Cancer to Fuel Demand in North America
Geographically, the global bioprocess technology market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to lead the global market. The growth in the region is attributed to the growing demand for superior quality biologics. The increasing R&D investments by key players are expected to promote the healthy growth of the market. Europe is predicted to hold the largest share during the forecast period due to the rising demand for biosimilars. The increasing prevalence of chronic diseases is predicted to enable speedy expansion of the market. Asia Pacific and Latin America are expected to account for the largest share during the forecast period in the foreseeable future. The growth in the region is attributed to the flourishing biopharmaceutical industry. The rising government support is expected to enhance the development of the market in the forthcoming years.
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List of Key Players Covered in the Bioprocess Technology Market Report:
- Emerson Electric Co.
- UNIVERCELLS
- Koninklijke Philips N.V.
- Abbott
- BD
- Thermo Fisher Scientific Inc.
- F. Hoffmann-La Roche Ltd
- Sartorius AG
- Danaher
- Merck KGaA
This Report Answers the Following Questions:
- How will the manufacturers cope up with the impacts COVID-19?
- Which company is expected to generate the highest revenue?
- What are the market growth drivers, hindrances, and dynamics?
- Which segment is set to dominate the market in terms of share?
Market Segmentation:
By Products
- Instruments
- Bioprocess Analyzers
- Gas Analyzers
- Osmometers
- Cell Counter Systems
- Bioreactors
- Incubators
- Consumables & Accessories
- Culture Media
- Reagents
By End-Users
- Biotechnology & Biopharmaceutical Companies,
- Research & Academic Institutes
- Others
By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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