Bioprocess Technology Market: Current Analysis and Forecast (2022-2028)

Report Description

The Global Bioprocess technology market is expected to grow at a significant rate of around 10.8% during the forecast period. Bioprocess technology is essential for the development of specialized chemicals, reagents, and biotherapeutics mainly by fusing the entirety of living matter or its constituent parts with nutrients. The procedures are the foundation for turning life science findings into practical industrial products. Substrates & media, biocatalysts, volume production, downstream processing, purification, and final processing are a few of the stages connected to bioprocess technology. In recent years, the adoption of bioprocess technology-related instruments has risen dramatically due to the rising incidences of infectious diseases and the increase in investments in the market. Furthermore, the rise in demand for novel drugs coupled with constant advancement in technology has boosted market growth. In addition, major players in the market are working towards launching advanced instruments for bioprocessing. For instance, in October 2022, Univercells Technologies launched Scale-X™ cell collect module, with an aim of assisting the inoculation step for large-scale bioreactors leveraging the principles of automation and intensification. Thus, the growing focus and investment of key stakeholders for the research and development of technologically advanced instruments is further expected to support market growth.

Hoffmann-La Roche Ltd., Abbott Laboratories, Danaher, Lonza, Thermo Fisher Scientific Inc., Siemens Healthineers, GE Healthcare, Eppendorf AG, Sartorious, and Advanced Instruments, are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, Consumables & Accessories category to witness higher CAGR during the forecast period”

Based on type, the market is segmented into Consumables & Accessories, and Instruments. The Consumables & Accessories segment is sub-segmented into culture media, Reagents, and Others. The instruments are further sub-segmented into Bioprocess Analyzer, Blood Gas Analyzer, Osmometers, Cell Counter, Incubators, Bioreactors, and Others. The consumables & accessories category is expected to witness higher CAGR during the forecast period owing to the growing demand for cell culture bioprocessing in developing nations such as China, India, and Mexico, among others. The need for cell culture bioprocess technology is also growing as a result of increased research and technological investments. Basic cell biology and biochemistry are studied using cell culture as a model system. The demand for bioprocess technology is being greatly fueled by biological studies on the effects of medications, the aging process, and the interactions between cells and disease-causing agents like bacteria and viruses. Additionally, key stakeholders are concentrating on launching new Instruments and consumables with enhanced features in order to increase sales and strengthen their position in the highly competitive bioprocess technology market.

“Amongst application type, the Biopharmaceuticals segment to hold a significant share in the market in 2020”

On the basis of application type, the market is categorized into Biopharmaceuticals, Specialty Products & Industrial Chemicals, Environmental Management Aid. Among these, the biopharmaceuticals to hold a significant share in the market in 2020. This is mainly due to the wide range of applications of bioprocessing in biopharmaceutical companies. Biopharmaceutical segment has been witnessing higher adoption of bioprocess technology, especially in the development of novel therapies including stem cell therapy, gene therapy, and immunotherapies. The development of the biopharmaceutical industry will be significantly influenced by the development of novel medications for long-term patient outcomes. Manufacturers of biopharmaceuticals are concentrating on growing their production to meet the increased market demands while considering the demand trend. Furthermore, the introduction of microorganisms in the pharmaceutical sector is expected to create new growth opportunities for the bioprocess technology market. The launch of new instruments including bioreactors, cell counter, bioprocess analyzer, etc. is expected to drive the industry at an exponential rate during the forecast period.

“North America to hold a significant share in the market”

In 2020, North America held a significant share of the global bioprocess technology market. This is mainly attributed to the increasing demand of personalized treatment such as cell therapy, gene therapy, etc. for the management of chronic disorders. Moreover, the increasing investments in biopharmaceutical companies and presence of global players in North America, also act as major factors that drive the growth of the industry. In addition, a wide variety of products are available in the North America market and many novel instruments also got approval in North America during the last few years. Increasing collaborations, partnerships, and acquisitions are also expected to drive the market in near future. For instance, in July 2020, Sartorius AG, a leading provider of contract testing services to the biotechnology and biopharmaceutical industries, bought a majority share in CellGenix.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global bioprocess technology market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Bioprocess Technology Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the bioprocess technology market were the three major steps undertaken to create and analyze the adoption of bioprocess technology in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global bioprocess technology market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the bioprocess technology market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the bioprocess technology market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, drive type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the bioprocess technology market. Further, we conducted factor analysis using dependent and independent variables such as type, application, and end user. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the bioprocess technology market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global bioprocess technology market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the bioprocess technology market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global bioprocess technology market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global bioprocess technology market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application type, and end user in the global bioprocess technology market.

The main objective of the Global Bioprocess technology market Study

The current & future market trends of the global bioprocess technology market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the bioprocess technology market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, application, and end user.
• Define and analysis of the regulatory framework for the bioprocess technology.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the bioprocess technology market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the bioprocess technology market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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