Bioprocess Technology Market Size, Share, and COVID-19 Impact Analysis, By Product (Consumables & Accessories, Cell Counter, Instruments, and Others), By Application (Antibiotics, Primary Surgical, Recombinant Proteins, Monoclonal Antibodies, and Biosimilar), and By End-user (Contract Manufacturing Organizations, Biopharmaceutical Companies, Contract Research Organizations, Food & Feed Industry, and Academic Research Organization), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The Global Bioprocess Technology Market is projected to grow from USD 24.25 billion in 2021 to USD 39.13 billion by 2030 at a CAGR of 8.3% during the forecast period.
Bioprocess technology is related to the development of equipment and techniques for the production of goods such as pharmaceuticals, feed, food, chemicals, polymers, and nutraceuticals using biological raw materials. Designing bioreactors, substrates and media volume production, biocatalysts, downstream processing, and purification are all part of bioprocessing, which is a blend of biology, mathematics, and engineering. The application of bioprocess technology in the production of biosimilar and biopharmaceutical goods has boosted market growth in recent years.
COVID-19 ANALYSIS
The pandemic of COVID-19 is likely to boost growth. The growing demand for bioprocess technology has offered numerous opportunities for players. Bioprocess technology is in great demand due to consumer behavior linked to epidemiological stages and government responses to the pandemic.
The pandemic has shifted traffic to e-commerce possibilities and affected distribution channel activities. During the second quarter of 2020, supply networks were disrupted by global trade barriers enacted to combat the viral outbreak. However, these effects are expected to decrease through 2021 and beyond.
Vaccines are biopharmaceutical products; hence their production will necessitate the use of bioprocess technology.
LATEST TREND
Rising Demand for Recombinant Protein Providing Lucrative Opportunity
Recombinant proteins are in high demand for medicinal uses. The market for therapeutic drugs relies heavily on human proteins created through genetic engineering. Diabetes, cancer, viral disorders, haemophilia, and anaemia are among the diseases for which recombinant therapeutic proteins are useful. Antibodies, FC fusion proteins, hormones, interleukin, enzymes, and anticoagulants are all examples of therapeutic proteins. As the incidence of chronic diseases such as diabetes and cancer rises, the segment's growth accelerates. Recombinant proteins are also excellent tools for studying protein-protein interactions. They have demonstrated performance in ELISA, Western Blot, and immunohistochemistry, among other laboratory techniques. Enzymatic assays can be developed using recombinant proteins.
DRIVING FACTORS
Increasing Prevalence of Cancer and Chronic Diseases Driving Demand
The increasing prevalence of cancer and other chronic diseases is driving demand for bioprocess technology improvements. The worldwide bioprocess technology market's revenue prospects are growing in tandem with the pharmaceutical industry's expansion. The increased demand for vaccines and proteins has prompted pharmaceutical and biotechnology businesses to boost medicinal production, research studies, and other research.
Outsourcing biopharmaceuticals is developing as a promising method for meeting unmet medical needs among patients. As a result, more bioprocessing systems with higher process efficiency and throughput are being used. These solutions provide a competitive advantage in terms of regulatory compliance. Because of increased capacities and capabilities, an increasing number of biopharmaceutical companies are choosing for single-use systems, which provide cost-efficiency and technological breakthroughs.
RESTRAINTS
High Cost of Technology Restraint Market Growth
Drug research & development requires large investments, which is projected to hinder market growth. According to a Tufts Center for the Report of Medication Development study published in the Journal of Health Economics in May 2019, the cost of drug development was US$ 2.6 billion, with average out-of-pocket costs of US$ 1.4 billion and time costs of US$ 1.2 billion.
SEGMENTATION
The Global Bioprocess Technology Market is segmented by Product, Application, End-user, and Region. Based on the Product, the market is categorized into Consumables & Accessories, Cell Counter, Instruments, and Others. Based on Application, the market is categorized into Antibiotics, Primary Surgical, Recombinant Proteins, Monoclonal Antibodies, and Biosimilar. Based on End-user, the market is categorized into Contract Manufacturing Organizations, Biopharmaceutical Companies, Contract Research Organizations, Food & Feed Industry, and Academic Research Organization. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
REGIONAL INSIGHTS
The Global Bioprocess Technology Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
North America is the largest market for bioprocess technology due to the rising need for high-quality biologics, as well as increased R&D spending by key players in the region. The existence of important companies, the high frequency of chronic diseases in the region that are treated mostly with biopharmaceuticals, and developed healthcare infrastructure are all contributing to market expansion. Additionally, favorable government initiatives and an increase in the number of research partnerships are projected to propel the industry forward. Because of its supporting healthcare legislation, large patient population, and developed healthcare sector, the United States has the most shares in this region.
Europe is predicted to hold the second-largest share of the bioprocess technology market due to rising demand for biosimilar and an increase in the prevalence of chronic diseases. During the forecast period, however, Asia Pacific and Latin America are expected to increase at the fastest rates. Expansion in the biopharmaceutical industry, investments by leading market players in these regions, increased government backing, improvements in R&D activities, and improving expertise and practical superiority are all expected to fuel market growth. The market for the Middle East and Africa is predicted to grow steadily.
KEY INDUSTRY PLAYERS
The major companies in the global bioprocess technology report include Emerson Electric Co., Univercells, Koninklijke Philips N.V., BD, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Sartorius AG, Danaher, Merck KGaA, and other prominent players.
KEY INDUSTRY DEVELOPMENTS:
In March 2019, Merck KGaA introduced the BioContinuum Buffer Delivery Platform, which is a combined solution for more efficient buffer delivery for next-generation bioprocessing and simplifies buffer management.
In March 2018, Sartorius AG developed the ambr 250 HT perfusion bioreactor system for cell culture process development, which is a computerised parallel bioreactor system built specifically for quick cell culture perfusion process development to maximize therapeutic antibody production.
In February 2019, UNIVERCELLS introduced scale-X carbo, a bench-scale automated cell culture system for the expression and concentration of viral therapeutic substance suitable for R&D and clinical material manufacturing.
SEGMENTATION
By Product
- Consumables & Accessories
- Cell Counter
- Instruments
- Others
By Application
- Antibiotics
- Primary Surgical
- Recombinant Proteins
- Monoclonal Antibodies
- Biosimilar
By End-user
- Contract Manufacturing Organizations
- Biopharmaceutical Companies
- Contract Research Organizations
- Food & Feed Industry
- Academic Research Organization
By Region
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy, Spain, Rest of Europe
- Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
- South America- Brazil, Argentina, Colombia, Rest of South America
- The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa
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Bioprocess Technology Market Size
- May-2022
- 1 4 0
- Global
- Healthcare-Medical-Devices-Biotechnology
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