Bioprocess Technology Market Size to Worth Around USD 79 BN by 2032

The global bioprocess technology market size is expected to be worth around USD 79 billion by 2032 and it is expected to grow at a registered CAGR of 14.26% from 2023 to 2032. An increasing emphasis on preventative measures and medications for specific needs is driving the sales of bioprocess technology.


Ottawa, Jan. 04, 2023 (GLOBE NEWSWIRE) -- According to Precedence Research, the global bioprocess technology market size was accounted at USD 20.8 billion in 2022.

Key elements affecting the overall market growth include opening new production facilities and expanding existing ones in emerging economies. The development of new technologies to address performance and quality challenges related to the production of bioprocess products has resulted in increased investments over the past five years, which has led to a significant advancement in the field of bioprocess technology. The leading companies in the global bioprocess technology market are involved in obtaining regulatory clearances, releasing new products, and entering into merger & cooperation agreements with other businesses to expand their footprint.

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What is the regional impact in the bioprocess technology market?

North America has accounted for 40% of the total revenue share in 2022 and the trend is predicted to continue throughout the forecast period. The rapid adoption of single-use technologies in the bioprocessing of pharmaceutical components has been witnessed recently. The shift from reusable to single-use technologies by several biomanufacturers is attributed to various benefits offered by the latter. These benefits include cost savings, reduced risk of product contamination, and increased flexibility in multi-product facilities. Additionally, single-use systems have been gaining traction as they can make the processing of biotherapies (vaccines, monoclonal antibodies, and recombinant proteins) more efficient. Furthermore, manufacturers seek to integrate single-use systems into a continuous production platform, representing a paradigm shift in manufacturing biotherapeutics using single-use technologies. It offers promising benefits for both manufacturers and consumers.

Latin America and Asia Pacific will drive the growth of the global bioprocess technology market over the next ten years. Macro factors such as the growing demand for single-use bioprocessing technology due to the rising awareness among medical staff regarding contamination, increasing investments in healthcare, and growing disposable income are expected to drive market growth. Furthermore, investments are being made in leading economies of these regions by leading companies to tap the potentially growing markets will augment market growth. 

Report highlights

  • The market for bioprocess technology market is expected to grow substantially over the coming years, depending on the product type. Biologics are examined by manufacturers for contaminants including viruses, bacteria, and mycoplasma.
  • Recombinant proteins are also anticipated to grow quickly over the projection period based on application. Recombinant proteins are in high demand for therapeutic applications, which is causing the market to witness growth.
  • Based on end-use, it is expected that the biopharmaceutical companies will hold the largest market share over the forecast period.
  • The use of bioprocess technology in the manufacture of numerous next-generation or highly inventive biopharmaceutical products has increased in popularity over the past few years.

Recent developments

  • In October 2021, FUJIFILM Medical Systems U.S.A., Inc. and FUJIFILM Healthcare Americas Corporation (formerly Hitachi Healthcare Americas) announced that the two companies had merged and operated under the name FUJIFILM Healthcare Americas Corporation. The new combined organization combines the strengths of each company’s innovative product portfolios and talented employees to create new value for customers and advance medical care.
  • In March 2020, Danaher Corporation announced the completion of its acquisition of the Biopharma business from GE's Life Sciences division. As part of Danaher, the business will be called Cytiva and a standalone operating company within Danaher's Life Sciences segment.

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Scope of the Report

Report AttributesDetails
Market Size in 2023USD 23.77 Billion
Revenue Forecast by 2032USD 79 Billion
CAGR14.26% from 2023 to 2032
North America Revenue Share40% in 2022
Base Year2022
Forecast Year2023 to 2032
Key PlayersPhilips Healthcare, Thermo Fisher Scientific Inc., Becton, Hoffmann-La Roche Ltd., Dickinson, and Company, Abbott Laboratories, Sartorius Group, Danaher, Alere Inc. and Others

Market dynamics

Drivers

The increased production of biopharmaceuticals, such as recombinant proteins & vaccines, is one of the critical factors that will aid in expanding the global bioprocess technology market. Furthermore, it will be challenging for biopharmaceutical producers to boost output and shorten the time it takes to get new treatments to market. Manufacturers of bioprocess equipment will be required to provide innovative, secure, and highly effective solutions to satisfy the rising demand from biopharmaceutical enterprises. The growing prevalence of various chronic disorders will pose a significant demand for bioprocess technology during the forecast period. Significant growth will be registered as the pharmaceutical sector is also growing rapidly in most nations across the globe. Growing cases of infectious diseases will also lead to higher consumption of various drugs in the market. The biopharmaceutical industries and the biotechnology industries in developing, as well as the developed nations, will play a significant role in driving the market growth during the forecast period. A large number of vaccines are produced due to which the market row will be escalated. Technological advancements will also play an instrumental role in driving market growth. 

Restraints

However, the market trends and players for bioprocess technology find it difficult to advance on the growth rate. Many governments around the world have already taken action. Some of these nations are choosing to impose severe regulation policies backed by the high cost of the market instruments that are preventing the market from expanding during the projected period. As the technology is expensive in nature and the present policies do not support the market, growth will be hampered. The policies laid down by various organizations for the supervision of the technology are stringent and they will have a negative impact on the market growth. 

Opportunities

Increased financing and investment from the government, the public sector, and major market participants have sparked a technical trend and a field of research and development that will aid in the growth of the market's size throughout the course of the current forecast period. By using the right investments to assist the bioprocess technology market will register a significant growth and serve the needs of a wider audience. Biotechnology and pharmaceutical sector are making efforts to improve their operations.

Challenges

Prominent market players are engaged in providing good quality products and stabilizing operations. Efforts are taken to reduce capital costs, development time and cycle time. The equipment used for biological product development are gaining significance. The machinery used for production is compact yet upstream and downstream bioprocessing is difficult and these factors challenge the market growth.

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Market Segmentation

By Product Type

  • Biologics Safety Testing
  • Cell Culture
  • Cell Expansion
  • Cell Line Development
  • Flow Cytometry
  • Tangential Flow Filtration 
  • Flow Cytometry

By Application

  • Antibiotics
  • Biosimilars
  • Recombinant Proteins
  • Others

By End-Use

  • Biopharmaceutical Companies
  • Contract Manufacturing Organization
  • Academic Research Institutes
  • Food and Feed Industry
  • Contract Research Organization

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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