Bioprocess Technology Market Expected to Reach US$ 42 Billion by 2031 | Growth Plus Reports

Newark, New Castle, USA, April 03, 2023 (GLOBE NEWSWIRE) -- According to the newest report by Growth Plus Reports, the global bioprocess technology market was valued at US$ 19.50 billion in 2022 and is expected to surpass US$ 42 billion by 2030, at a revenue CAGR of 8.90%. The report analyzes top strategies, drivers, opportunities, competition, market trends, market size, statistics, estimations, and investment regions.

Key Takeaways:

• The rising demand for biologics will provide plenty of growth opportunities for the bioprocess technology market.
• North America will dominate the global bioprocess technology market.
• The increasing prevalence of cancer will fuel the growth of the bioprocess technology market.

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                                            Bioprocess Technology Market Scope

Market Drivers
The increasing demand for biologics, such as antibodies, vaccines, and recombinant proteins, is the primary factor driving the revenue growth of the market. Furthermore, the increasing prevalence of cancer and other chronic disorders, increased R&D, advances in bioprocess technology, and the growing biopharmaceutical industry will support market revenue growth.

Market Segmentation
Growth Plus Reports has analyzed the global bioprocess technology market from four perspectives: Product Type, Application, End User, and Region.

Product Type Segmentation: Based on the product type, the bioprocess technology market is segmented into cell culture, flow cytometry, cell line development, biologics safety testing, and tangential flow filtration. The biologics safety testing segment dominates the market with the largest revenue share because This procedure is critical for the validation and process control of finished products and the quality control of raw materials.

Application Segmentation: Based on the application, the bioprocess technology market is segmented into biopharmaceuticals, environmental management aid, specialty products, and recombinant proteins. The recombinant proteins segment dominates the market with the largest revenue share because they are highly successful in treating disorders such as cancer, diabetes, infectious infections, anemia, and hemophilia.

End-User Segmentation: Based on the end-user, the global bioprocess technology market is segmented into Hospitals, CROs & CMOs, Biopharmaceutical Companies, and Others. The biopharmaceutical companies segment dominates the market with the largest revenue share because, in the past few years, the application of bioprocess technology in the development of various next-generation or highly inventive biopharmaceutical products has grown significantly.

Regional Growth Dynamics
Based on the region, the global bioprocess technology market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the bioprocess technology market due to the increasing demand for biologics, and personalized medicine, the need for more efficient and cost-effective manufacturing processes, the strong presence of major biopharmaceutical companies, favorable regulatory policies, advanced research and development infrastructure, and increased investment in research and development.

The Asia Pacific region is expected to register significant revenue growth because of rapid industrialization, rising demand for biopharmaceuticals and biotechnology products, and an increase in the frequency of chronic diseases like cancer, diabetes, and autoimmune disorders.

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Competitive Landscape
The major players operating in the global bioprocess technology market are:

• Hoffmann-La Roche Ltd.
• BD & Company
• Thermo Fisher Scientific Inc.
• Philips Healthcare
• Danaher Corporation
• Abbott Laboratories
• Fujifilm Healthcare
• Sartorius Group
• Catalent
• Bio-Rad Laboratories

The bioprocess technology market is moderately competitive. Key players in the market are implement competitive sustainability tactics such as product development and regional presence growth. Major firms are aggressively acquiring other companies to strengthen their global market positions.

Recent developments:

• Thermo Fisher Scientific Inc. launched a large-scale cell culture harvesting solution in October 2022. This DynaSpin single-use centrifuge system is intended to provide an optimal single-use solution for large-scale cell culture harvesting by minimizing the depth of filtration cartridges required to complete the harvest process.

• Sunshine Biopharma Inc. completed the acquisition of Nora Pharma Inc. in October 2022. Sunshine Pharma's revenue stream and operations into generic prescription drugs and biosimilars were greatly augmented because of the strategic acquisition of Nora Pharma.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022)
   3. Regulatory Landscape
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3.  Opportunities
5. GLOBAL BIOPROCESS TECHNOLOGY MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
   1. Cell Culture
   2. Flow Cytometry
   3. Cell Line Development
   4. Biologics Safety Testing
   5. Tangential Flow Filtration
6. GLOBAL BIOPROCESS TECHNOLOGY MARKET - ANALYSIS & FORECAST, BY APPLICATION
   1. Biopharmaceuticals
   2. Environmental Management Aid
   3. Specialty Products
   4. Recombinant Proteins 
7. GLOBAL BIOPROCESS TECHNOLOGY MARKET - ANALYSIS & FORECAST, BY END USER
   1. Hospitals
   2. CROs & CMOs
   3. Biopharmaceutical Companies
   4. Others

BIOPROCESS TECHNOLOGY MARKET TOC

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