Bioprocess Technology Market is expected to display a steady growth of 10.8% due to the rise in the incidence of infectious diseases | UnivDatos Market Insights
NOIDA, India, Nov. 23, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Bioprocess Technology Market was valued at more than USD 17.5 Billionin 2020 and is expected to grow at a CAGR of around 10.8% from 2022-2028. The analysis has been segmented into Type (Consumables & Accessories, and Instruments); Application Type (Biopharmaceuticals, Specialty Products & Industrial Chemicals, and Environmental Management Aid); End User (Hospitals, Research Centers, and Research / Academic Institutes); Region/Country.
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The Bioprocess Technology Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Bioprocess Technology Market. The Bioprocess Technology Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Bioprocess Technology Market at the global and regional levels.
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Market Overview
Bioprocess technology is essential for the development of specialized chemicals, reagents, and biotherapeutics mainly by fusing the entirety of living matter or its constituent parts with nutrients. The procedures are the foundation for turning life science findings into practical industrial products. Substrates & media, biocatalysts, volume production, downstream processing, purification, and final processing are a few of the stages connected to bioprocess technology. In recent years, the adoption of bioprocess technology-related instruments has risen dramatically due to the rising incidences of infectious diseases and the increase in investments in the market. Furthermore, the rise in demand for novel drugs coupled with constant advancement in technology has boosted the market growth. In addition, major players in the market are working towards launching advanced instruments for bioprocessing. For instance, in October 2022, Univercells Technologies launched Scale-X™ cell collect module, with an aim of assisting the inoculation step for large-scale bioreactors leveraging the principles of automation and intensification.
Factors such as an increase in the incidence of infectious diseases coupled with rising demand of novel therapies, increasing adoption of bioprocessing instruments, and new product launches in the market are some of the prominent factors that are positively influencing the market growth globally.
Some of the major players operating in the market include Hoffmann-La Roche Ltd., Abbott Laboratories, Danaher, Lonza, Thermo Fisher Scientific Inc., Siemens Healthineers, GE Healthcare, Eppendorf AG, Sartorious, and Advanced Instruments.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The Bioprocess Technology Market has been significantly affected during these times owing to the delay in elective surgeries during the pandemic.
The global Bioprocess Technology Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on type, the market is segmented into Consumables & Accessories, and Instruments. The Consumables & Accessories segment is sub-segmented into culture media, Reagents, and Others. The instruments are further sub-segmented into Bioprocess Analyzer, Blood Gas Analyzer, Osmometers, Cell Counter, Incubators, Bioreactors, and Others. The consumables & accessories category is expected to witness higher CAGR during the forecast period owing to the growing demand for cell culture bioprocessing in developing nations such as China, India, and Mexico, among others. Furthermore, The demand for bioprocess technology is being greatly fueled by biological studies on the effects of medications, the aging process, and the interactions between cells and disease-causing agents like bacteria and viruses, which is also positively influencing the growth of the market.
- On the basis of application type, the market is categorized into Biopharmaceuticals, Specialty Products & Industrial Chemicals, and Environmental Management Aid. Among these, biopharmaceuticals to hold a significant share in the market in 2020. This is mainly due to the wide range of applications of bioprocessing in biopharmaceutical companies. The biopharmaceutical segment has been witnessing higher adoption of bioprocess technology, especially in the development of novel therapies including stem cell therapy, gene therapy, and immunotherapies. Moreover, the launch of new instruments including bioreactors, cell counters, bioprocess analyzer, etc. is expected to drive the industry at an exponential rate during the forecast period.
- On the basis of end user, the market is segmented into Hospitals, Research Centers, Research / Academic Institutes. The research centers segment is to witness higher adoption of bioprocess technology during the forecast period. This is mainly due to the rising research and development in the pharmaceutical and biotechnology sector along with the increasing acquisition and partnerships in this sector. For instance,in July 2020, Sartorius AG, a leading provider of contract testing services to the biotechnology and biopharmaceutical industries, bought a majority share in CellGenix.
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Bioprocess Technology Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
North America held a significant share of the global bioprocess technology market. This is mainly attributed to the increasing demand for personalized treatment such as cell therapy, gene therapy, etc. for the management of chronic disorders. Moreover, the increasing investments in biopharmaceutical companies and presence of global players in North America, also act as major factors that drive the growth of the industry. In addition, a wide variety of products are available in the North America market and many novel instruments also got approval in the region during the last few years. Increasing collaborations, partnerships, and acquisitions are also expected to drive the market in near future.
The major players targeting the market include
- Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Danaher
- Lonza
- Thermo Fisher Scientific Inc.
- Siemens Healthineers
- GE Healthcare
- Eppendorf AG
- Sartorious
- Advanced Instruments
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Bioprocess Technology Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Bioprocess Technology Market?
- Which factors are influencing the Bioprocess Technology Market over the forecast period?
- What are the global challenges, threats, and risks in the Bioprocess Technology Market?
- Which factors are propelling and restraining the Bioprocess Technology Market?
- What are the demanding global regions of the Bioprocess Technology Market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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Bioprocess Technology Market Report Coverage
| Report Attribute | Details |
| Base year | 2021 |
| Forecast period | 2022-2028 |
| Growth momentum | Accelerate at a CAGR of over 5% |
| Market size 2020 | USD 17.5 Billion |
| Regional analysis | North America, Europe, APAC, Rest of World |
| Major contributing region | North America to Dominate the Global Bioprocess Technology Market |
| Key countries covered | United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India |
| Companies profiled | Hoffmann-La Roche Ltd., Abbott Laboratories, Danaher, Lonza, Thermo Fisher Scientific Inc., Siemens Healthineers, GE Healthcare, Eppendorf AG, Sartorious, and Advanced Instruments. |
| Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
| Segments Covered | By Type; By Application Type; End-User; By Region/Country |
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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