The global bioprocessing market is expected to record a value of US$49.9 billion, growing at a CAGR of 11.49%, for the time period of 2021 to 2025. The factors such as growing sales of biotech, rising number of clinical trials, rise in cell culture practice, growth in biopharma merger & acquisition deals, growing urbanization and growing awareness about various communicable diseases would drive the growth of the market. However, the market growth would be challenged by waste disposal of single-use equipment and stringent regulations on bioprocessing. A few notable trends may include upsurge in biotech funding, growth in FDA approvals and emergence of various pandemic diseases.
The global bioprocessing industry is rapidly expanding due to the rising demand for biopharmaceuticals, as they are more extensively accepted for the clinical treatment of a wide range of ailments. Unlike small molecule drugs, these biomolecule-based therapeutics, or biologics, are produced using living cells in two distinct phases, called upstream and downstream. Therefore, growing production of wide range of biologics is providing lucrative growth opportunity to the global bioprocessing market.
The fastest growing regional market was North America due to the presence of major biopharmaceutical companies that continue to spend significant amount of funds in the R&D of new novel therapeutics, which is providing scope for the advance market growth. Further, the outbreak of the COVID-19 pandemic has put biopharmaceutical industry in the frontline of the potential vaccine development against the deadly SARS-COV2 virus, which resulted in the increased number of clinical trials and thereby led to the growth of the global bioprocessing market.
Scope of the report:
The report provides a comprehensive analysis of the global bioprocessing market.
The major regional markets (North America, Europe, Asia-Pacific and ROW) have been analyzed in detail.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Thermo Fisher Scientific, Danaher Corporation, Merck Group, Boehringer Ingelheim, Sartorius AG and Repligen) are also presented in detail.
Key Target Audience:
Bioprocessing Equipment Manufacturers
Supply Chain Partners
End Users (Biopharmaceutical and R&D & clinical Centers)
Government Bodies & Regulating Authorities