ALBANY, New York, April 06, 2018 (GLOBE NEWSWIRE) -- As per the evaluations of the TMR report, the global market for single-use bioprocessing systems market was worth US$2,791.4 million as of 2017. And, with the demand expanding at a notable CAGR of 11.3% during the forecast period of 2017 to 2024, the opportunities in this market are estimated to be worth US$5,914.6 million by the end of 2024. Based on product type, the report segments the single-use bioprocessing systems market into bags, mixers, bioreactors and fermenters, tubing, filtration devices, bioprocess containers, probes and sensors, connectors and clamps, and sampling systems. Application-wise, the market has been bifurcated into monoclonal antibody production, vaccine production, plant cell cultivation, production of enzymes and growth factors, and patient specific cell therapies. The report also gauges the potential of demand that can be expected out of the end users; pharmaceutical, biotechnology, CRO and CMO, and academic and research institutes, and regions; North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
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Cost and Contamination Benefits Driving Adoption across Clinical Research
Increased investment on clinical research and the trend of outsourcing of R&D activities to emerging economies to achieve greater cost-efficiency are the primary drivers of this market. Single-use bioprocessing systems can be customized according to the customer’s requirement as it is feasible to produce a variety of them. Single-use bags, bioreactors, and bioprocess containers are all amenable to customer specific customization requests depending upon the application. This lends flexibility to the consumer which is not always possible with capital equipment such as stainless steel bioprocess containers. As a result, single-use bioprocessing products can reduce capital costs for building and retrofitting biopharmaceutical manufacturing facilities and it is possible to install them at a lower initial investment in comparison to stainless steel equipment.
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Reduction in the processes of SIP and CIP, reduced chances of cross contamination, radical growth in the production of monoclonal antibodies, and easier regulatory compliance are some of the other drivers of the single-use bioprocessing systems market. On the other hand, environmental concerns regarding the disposal of these products and technical difficulties in preservation from temperature and chemicals are a few restraints holding back the prosperity of this market.
An up to date business intelligence report developed at the headquarters of Transparency Market Research (TMR) has detected that the shares in the global single-use bioprocessing systems market are fairly consolidated within a few leading companies. The TMR report has identified Sartorius AG, Thermo Fisher Scientific, Pall Corporation, Merck KGaA, and GE Healthcare as the top five companies operating in the single-use bioprocessing systems market as of 2017, staying ahead of the curve with their brand identity and proprietary product offerings. On the other hand, new entrants are expected to struggle to carve a niche for themselves in this market, as they are going head-on to the leaders with well-established supply chain and technological expertise.
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As key strategies, the prominent players of life sciences are frequently indulging into acquisition and partnership activities as well as developing innovative products. For instance, Pall Corporation went into an agreement with BioFactory Competence Center (BCC) in Switzerland in November 2017 to start a new training program that will focus on continuous bioprocessing advances. Couple of months earlier to that, the company had added Cadence™ continuous bioprocessing and Allegro™ single-use chromatography to its product portfolio. On the other hand, Sartorius AG, which is a well-known name in integrated bioprocess solutions covering fermentation, filtration, fluid management, and purification, offers advanced equipment and services for quality assurance and production processes for the food and beverages and biopharmaceutical sector.
Key Takeaways:
- Demand in the global single-use bioprocessing systems market to multiply at a formidable CAGR of 11.3% during the forecast period of 2017 to 2024
- Consolidated competitive landscape has left little scope for new entrants
- Availability of customized products as per requirements and that too at reduced overall cost of processing is the key driver of the market.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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