Bioprocess Technology Market Size, Share, Trends, Growth, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global bioprocess technology market size is projected to surpass US$ 47.9 billion by 2027 and is expected to expand at a CAGR of above 7.8% from 2020 to 2027.

The global bioprocess technology market is driven by increase in prevalence of chronic pain, and rise in demand for home monitoring. Bioprocessing equipment specifically used in continuous biological product development are gaining significance, as these provide consistency in product quality, lower the manufacturing cycle time, and reduce capital costs & time by stabilizing bioprocessing operations. Bioprocessing equipment developed for continuous biopharmaceutical manufacturing are relatively small-sized; however, integrating upstream and downstream bioprocessing can be a challenge.

Overview

  • Bioprocess is defined as a technique used to produce biological products such as genetically microbial strain, production of commercially useful chemicals etc.
  • Increase in interest in life science areas such as pharmacology & toxicology and biotechnology for the development of advanced medicines and vaccines has created a need for advanced bioprocess technology.
  • Invention drives development. When it comes to invention in the development of therapeutic biological products and novel medicines, FDA’s Center for Drug Evaluation and Research (CDER) assists the pharmaceutical industry at each phase of the development. Development and launch of novel drug products boost demand for bioprocess technologies globally.
  • North America dominated the global bioprocess technology market in 2019 and the trend is anticipated to continue during the forecast period. Availability of technologically advanced devices and strong government support in terms of investment is boosting the growth of bioprocess technology market in North America.
  • However, Asia Pacific is likely to be a highly lucrative market for bioprocess technology and it is expected to expand at a high CAGR during the forecast period

Technological advancements to Drive Market

  • Bioprocessing equipment manufacturers are launching innovative products in the market that offer solutions to the key challenges of end-users. Efficiency, safety, and productivity are the key focus areas for biopharmaceutical companies, and bioprocessing equipment manufacturers strive to address these challenges with their suite of innovative offerings
  • Technological advancements have led to increase in demand for bioprocess technology in both green field and brown field facilities. The momentum is likely to continue, and hence innovation in product offerings is likely to drive sales of bioprocess technology equipment.
  • For instance, in June 2015, Merck Millipore introduced the Mobius 2000 liter single-use bioreactor, which featured the industry’s first pull-out drawer and self-deploying bag, thereby making assembly installation and inflation safe and easy

Consumables & Accessories Segment to Dominate Market

  • Based on product, the consumables & accessories segment accounted for the largest share of the bioprocess technology market in 2019. High rate of adoption of cell culture media globally for several research and development studies is driving the segment.
  • Technological advancements for improving efficiency and reducing the risk of cross contamination are expected to propel the instruments segment during the forecast period

Recombinant Protein to be Highly Lucrative Segment

  • Based on application, the recombinant protein segment held the largest share of the market in 2019 due to increased research activities in several research institutes and biotech companies for the pre-diagnosis of chronic diseases.
  • Furthermore, rise in acute and chronic diseases globally is driving the demand for advanced protein therapeutics for their treatment.

Biopharmaceutical Companies to be Highly Lucrative Segment

  • Based on end-user, the biopharmaceuticals companies segment held the largest share of the market in 2019. Increase in demand for therapeutic proteins produced through mammalian expression systems is anticipated to drive the market during the forecast period. Moreover, huge investment in research and development is a another key factor that driving the segment.

North America to Dominate Global Market

  • In terms of region, the global bioprocess technology market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global bioprocess technology market in 2019followed by Europe.
  • North America accounted for major share of the global bioprocess technology market in 2019, as the region has always been on the leading edge of medical device technology and adoption.
  • Key players are investing to expand their reach and strengthen their market position in North America market through new product development and approvals.

Competitive Landscape

  • The global bioprocess technology market is fragmented in terms of number of players. Key players in the global market include Thermo Fisher Scientific, Inc. Sartorius AG, F. Hoffmann-La Roche AG, GENERAL ELECTRIC, Danaher Corporation, Nova Biomedical, Advanced Instruments, Inc., Siemens Healthneers, Becton, Dickinson and Company, and Lonza among others among others

Market Segmentation

By Product

    • Instruments
      • Bioprocess Analyzers
      • Blood Gas Analyzers
      • Osmometers
      • Bioreactors
      • Incubators
      • Cell Counter Systems
      • Others
    • Consumables and Accessories
      • Culture Media
      • Reagents
      • Others

By Application

    • Antibiotics
    • Recombinant Proteins
    • Biosimilars
    • Others

By End-user

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

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

VRR’s report on the global bioprocess technology market studies past as well as current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global bioprocess technology market for the period 2017–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global bioprocess technology market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ Acuity Level literature, annual reports, press releases, and relevant documents to understand the global bioprocess technology market.

Secondary research also included internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global bioprocess technology market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global bioprocess technology market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global bioprocess technology market.

The report delves into the competitive landscape of the global bioprocess technology market. Key players operating in the global bioprocess technology market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global bioprocess technology market that have been profiled in this report.

Key Questions Answered in Global Bioprocess Technology Market Report

  • What is the scope of growth of product type companies in the global bioprocess technology market?
  • What will be the Y-o-Y growth of the global bioprocess technology market between 2019 and 2027?
  • What is the influence of changing trends in usage patterns on the global bioprocess technology market?
  • Will North America continue to be the most profitable market for bioprocess technology providers?
  • Which factors are anticipated to hamper the growth of the global bioprocess technology market during the forecast period?
  • Which are the leading companies in the global bioprocess technology market?

Research Methodology

A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global bioprocess technology market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary research sources referred to by analysts during the study on of the global bioprocess technology market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, and market intelligence managers, who contributed to the production of VRR’s study on the bioprocess technology market as primary research sources.

These primary and secondary research sources have provided exclusive information during interviews, which serves as a validation from the bioprocess technology market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global bioprocess technology market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global bioprocess technology market more reliably and accurately.


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