The Bioprocess Technology by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Bioprocess Technology, The bioprocess technology market size has grown rapidly in recent years. It will grow from $21.9 billion in 2023 to $25.62 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to biopharmaceutical industry growth, rising chronic diseases, regulatory support, increasing research and development activities, globalization of biopharmaceutical production.
The bioprocess technology market size is expected to see rapid growth in the next few years. It will grow to $45.04 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to emergence of single-use bioprocessing, cell and gene therapies, bioprocessing for sustainable practices, increasing outsourcing of bioprocessing services, global pandemic preparedness. Major trends in the forecast period include single-use bioprocessing, continuous bioprocessing, advanced analytics and process monitoring, personalized medicine and cell therapies, strategic collaborations and partnerships, gene editing technologies.
Growing demand from healthcare industries is expected to propel the growth of the bioprocess technology market going forward. Healthcare industries refer to companies or organizations that provide medical and healthcare-related products, services, and technologies. Bioprocess technology uses living cells such as those from bacteria or mammals to produce therapeutic proteins, vaccines, and other biologics that support the manufacturing of biopharmaceuticals and other healthcare products. For instance, in 2021, according to a report published by the American Medical Association (AMA), a US-based professional organization that represents physicians and medical students, health spending in the U.S. rose by 2.7%, amounting to $4.3 trillion, or $12,914 per capita. Hospital care accounted for 31.1% of total spending, with physician services, clinical services, and home health care accounting for 24%. Therefore, the growing demand from healthcare industries is driving the growth of the bioprocess technology market.
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The bioprocess technology market covered in this report is segmented –
1) By Type: Cell Culture, Cell Expansion, Flow Cytometry, Cell Line Development, Virus Infiltration
2) By Application: Biopharmaceuticals, Specialty Products, Industry Chemicals, Environment Management Aid
3) By End User: Hospitals, Research labs, Medical Institutions, Other End Users
Major companies operating in the bioprocess technology market are innovating technological advanced products, such as the Livit Flex, to gain a competitive edge in the market. Livit Flex is as an intuitive system for bioprocess control designed for acceleration of research and development (R&D) processes for pharmaceuticals and biotech products. For instance, in December 2022, Getinge, a Sweden-based Healthcare company launched Livit Flex. Livit Flex provides flexibility, customization, simplicity, and time and cost-efficiency for process optimization. It is equipped with smart sensor technology and easy-to-use software functionalities. It allows users to quickly set up parallel experiments and monitor all data from one central location. Livit Flex is configured as a single or dual control system for single-use or multi-use bioreactors to optimize bench space in the laboratory.
The bioprocess technology market report table of contents includes:
1. Executive Summary
2. Bioprocess Technology Market Characteristics
3. Bioprocess Technology Market Trends And Strategies
4. Bioprocess Technology Market – Macro Economic Scenario
5. Global Bioprocess Technology Market Size and Growth
…
31. Global Bioprocess Technology Market Competitive Benchmarking
32. Global Bioprocess Technology Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Bioprocess Technology Market
34. Bioprocess Technology Market Future Outlook and Potential Analysis
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