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The Bioprocess Technology Market is expected to register a CAGR of 15.2% during 2021-2031
Published by mark itwired
Posted on October 4, 2021
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Published by mark itwired
Posted on October 4, 2021
According to a recent study by Future Market Insights (FMI), the global bioprocess technology market was valued at US$ 17.3 Bn in 2020 and is expected to register a CAGR of 15.2% during the forecast period (2021-2031). It is projected to generate a revenue of US$ 81.2 Bn by the end of 2031.
Technology has always been at the heart of biotech. The emergence of advanced computing technology such as machine learning and artificial intelligence has enabled companies to expand the scale of their research and improve efficiency in the manufacturing process—both of which reduce the time it takes for biotech firms to bring new products to market.
Increasing research and development spending on pharmaceutical products has improved the well-being of patients to a significant level. Today vaccines have proven to be one of the most effective ways to prevent children from infectious diseases. This is highly possible due to increased government spending on research & development in the life science stream.
For instance, in May 2020, AbSci Inc. closed USD 15.4 Mn in series D funding to accelerate the growth and scale of disruptive protein printing technology, by announcing an exclusive co-marketing partnership with KBI Biopharma.
There are currently more than 1,500 biomolecules undergoing clinical trials, which target more than 100 hundred types of diseases and success rate for biologics has so far been over twice that of small-molecule products.
Request The Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13890
“Single-use bioprocess products offer lucrative investment opportunities. With the increasing biopharmaceutical manufacturing across the world, adoption of single-use products is expected to gain traction,” says the FMI Analyst
Some of the leading companies of bioprocess technology are focusing on their extensive portfolio of single-use cell culture bioreactors, containers, strong distribution channels, and strategic selling to the leading biopharmaceutical manufacturing entities.
The key market players covered by FMI include Thermo Fisher Scientific Inc, Sartorius, Merck KGa, Danaher Corporation, Applikon Biotechnology B.V., Lonza AG, Bio-Rad Laboratories, Agilent technologies, Solida Biotech GmBH, and Waters Corporation.
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global bioprocess technology market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the bioprocess technology segment based on product type (upstream equipment, downstream equipment), end-users (biotech/biopharmaceutical companies, CDMO/contract research organization, research/academic institutes), and across seven major regions.
Speak To Analyst about queries @ https://www.futuremarketinsights.com/ask-question/rep-gb-13890
The global bioprocess technology market was valued at US$ 17,296.4 Mn in 2020 and is expected to register a CAGR of 15.2% during the forecast period (2021-2031). It is projected to generate a revenue of US$ 81,215.7 Mn by the end of 2031.
The global bioprocess technology market is projected to register high demand in the forecast period and rise at a CAGR of 15.2%.
The key drivers of the bioprocess technology market are increasing spending on life science research, strong biologics pipeline, and capital investments to aid advancements biotechnology.
Rising adoption of single-use (disposable) bioprocessing technology, growth in personalized treatment for rare diseases, and increase in the use of biosimilar are the major factors driving demand in the bioprocess technology market.
The cumulative market share of the top players including Thermo Fisher Scientific Inc, Merck KgaA and Danaher Corporation holds around 65% of the overall market.
India, China, the U.S., Japan, and Germany are the top 5 countries that are driving the demand for bioprocess technology.
North America will hold around 33.6% revenue share in the overall bioprocess technology market in 2021. The US remains the fastest growing market in North America, with the demand for bioprocess technology forecast to rise at a CAGR of 10.5% over the forecast period.
The Europe market is set to exhibit a CAGR of 14.1% during the forecast period owing to the high demand for cell development products and lab-scale bioreactors in the upstream segment.
The post The Bioprocess Technology Market is expected to register a CAGR of 15.2% during 2021-2031 appeared first on Market Research Blog.
According to a recent study by Future Market Insights (FMI), the global bioprocess technology market was valued at US$ 17.3 Bn in 2020 and is expected to register a CAGR of 15.2% during the forecast period (2021-2031). It is projected to generate a revenue of US$ 81.2 Bn by the end of 2031.
Technology has always been at the heart of biotech. The emergence of advanced computing technology such as machine learning and artificial intelligence has enabled companies to expand the scale of their research and improve efficiency in the manufacturing process—both of which reduce the time it takes for biotech firms to bring new products to market.
Increasing research and development spending on pharmaceutical products has improved the well-being of patients to a significant level. Today vaccines have proven to be one of the most effective ways to prevent children from infectious diseases. This is highly possible due to increased government spending on research & development in the life science stream.
For instance, in May 2020, AbSci Inc. closed USD 15.4 Mn in series D funding to accelerate the growth and scale of disruptive protein printing technology, by announcing an exclusive co-marketing partnership with KBI Biopharma.
There are currently more than 1,500 biomolecules undergoing clinical trials, which target more than 100 hundred types of diseases and success rate for biologics has so far been over twice that of small-molecule products.
Request The Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13890
“Single-use bioprocess products offer lucrative investment opportunities. With the increasing biopharmaceutical manufacturing across the world, adoption of single-use products is expected to gain traction,” says the FMI Analyst
Some of the leading companies of bioprocess technology are focusing on their extensive portfolio of single-use cell culture bioreactors, containers, strong distribution channels, and strategic selling to the leading biopharmaceutical manufacturing entities.
The key market players covered by FMI include Thermo Fisher Scientific Inc, Sartorius, Merck KGa, Danaher Corporation, Applikon Biotechnology B.V., Lonza AG, Bio-Rad Laboratories, Agilent technologies, Solida Biotech GmBH, and Waters Corporation.
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global bioprocess technology market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the bioprocess technology segment based on product type (upstream equipment, downstream equipment), end-users (biotech/biopharmaceutical companies, CDMO/contract research organization, research/academic institutes), and across seven major regions.
Speak To Analyst about queries @ https://www.futuremarketinsights.com/ask-question/rep-gb-13890
The global bioprocess technology market was valued at US$ 17,296.4 Mn in 2020 and is expected to register a CAGR of 15.2% during the forecast period (2021-2031). It is projected to generate a revenue of US$ 81,215.7 Mn by the end of 2031.
The global bioprocess technology market is projected to register high demand in the forecast period and rise at a CAGR of 15.2%.
The key drivers of the bioprocess technology market are increasing spending on life science research, strong biologics pipeline, and capital investments to aid advancements biotechnology.
Rising adoption of single-use (disposable) bioprocessing technology, growth in personalized treatment for rare diseases, and increase in the use of biosimilar are the major factors driving demand in the bioprocess technology market.
The cumulative market share of the top players including Thermo Fisher Scientific Inc, Merck KgaA and Danaher Corporation holds around 65% of the overall market.
India, China, the U.S., Japan, and Germany are the top 5 countries that are driving the demand for bioprocess technology.
North America will hold around 33.6% revenue share in the overall bioprocess technology market in 2021. The US remains the fastest growing market in North America, with the demand for bioprocess technology forecast to rise at a CAGR of 10.5% over the forecast period.
The Europe market is set to exhibit a CAGR of 14.1% during the forecast period owing to the high demand for cell development products and lab-scale bioreactors in the upstream segment.
The post The Bioprocess Technology Market is expected to register a CAGR of 15.2% during 2021-2031 appeared first on Market Research Blog.