Farmington, March 28, 2023 (GLOBE NEWSWIRE) -- The Global Bioprocess Technology Market size was valued at USD 21,410.02 Million in 2023 and is projected to reach USD 55,841.07 Million by 2030, growing at a CAGR of 10.70% from 2023 to 2030. Bioprocessing technology encompasses the design and development of apparatus and processes for producing pharmaceuticals, foods, feeds, chemicals, polymers, and nutraceuticals from biological sources of raw materials. Bioprocessing is a combination of biology, mathematics, and engineering that includes bioreactors, biocatalysts, the bulk production of substrates and media, the design of downstream processes, and clarifications. Bioprocess technology has fuelled the expansion of the market for biosimilar and biopharmaceutical products over the past few years.
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Increasing funding for the research and development of bioprocessing technologies is expected to drive the global bioprocessing market. Due to growing government support for biofuel production in a number of nations, it is anticipated that continued technological advances in bioprocess will also contribute to the expansion of the bioprocess technology market.
Bio Process Technology Market Recent Developments:
- In June 2020, Lonza developed New GSv9 TM medium and feed, a new innovative platform technology that maximizes yield and batch-to-batch consistency to support scale-up of recombinant protein production. This provides a robust culture platform to reproducibly generate high-quality, stable proteins.
- In March 2020, Danaher acquired the Biopharma division of General Electric Life Sciences, a leading supplier of instruments, consumables, and software.
Bio Process Technology Market Dynamics:
Drivers:
The increasing production of biopharmaceuticals, such as the availability of recombinant proteins and the proliferation of vaccines, as part of bioprocessing performed for a global audience, is one of the major factors that will contribute to the expansion of the market for bioprocessing technology. various global regions.
Restraints:
However, it is difficult to accelerate the growth of bioprocess technology market trends and market participants. Various global governments have already implemented stringent regulatory policies, and some of them are opting for the high costs associated with market tools, which limit market growth during the remainder of the forecast period.
Regional Outlook:
Geographically, the global market for bioprocess technology has been divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. There are main countries and sub-regions in each region. During the forecast period, North America is anticipated to be a very lucrative market. In 2020, this region possessed a substantial portion of the global market. From 2021 to 2031, the North American market is anticipated to expand at a rapid CAGR.
In 2020, the United States dominated the North American market due to factors such as an expanding geriatric population and a large number of bioprocess technology manufacturers. The market in the United States is also driven by the availability of advanced technology and numerous research studies.
In 2020, Europe ranked as the second greatest market for bioprocess technology. This region's market is driven by the expansion of the biopharmaceutical industry and the rising demand for antibiotics, biosimilars, monoclonal antibodies, recombinant proteins, and cost-effective alternatives.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 10.70% from 2023 to 2030 |
| Market Size in 2022 | USD 21,410.02 Million |
| Revenue Forecast by 2030 | USD 55,841.07 Million |
| By Type | Flow cytometry, Cell culture, Cell expansion, Cell line development, Virus infiltration, Other |
| By Applications | Biopharmaceuticals, Specialty products and industrial chemicals, Environmental management aid, Other |
| By End Users | Hospitals, Research Centers, Medical institutions, Other |
| By Companies | Philips Healthcare, Hoffmann-La Roche Ltd., Abbott Laboratories, Danaher, Alere Inc., Thermo Fisher Scientific Inc., Becton Dickinson and Company, Sartorius Group, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Bio Process Technology Market Key Segments Covered:
Top Market Players:
Philips Healthcare, Hoffmann-La Roche Ltd., Abbott Laboratories, Danaher, Alere Inc., Thermo Fisher Scientific Inc., Becton Dickinson and Company, Sartorius Group, and Others.
By Type:
- Flow cytometry
- Cell culture
- Cell expansion
- Cell line development
- Virus infiltration
- Other
By Application:
- Biopharmaceuticals
- Specialty products and industrial chemicals
- Environmental management aid
- Other
By End Users:
- Hospitals
- Research Centers
- Medical institutions
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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