Overview and Scope
Bioprocessing technology refers to the process that includes microbes, living cells, or elements of living organisms to synthesize biological products. It is commonly used to produce chemicals, food, flavor, fuel, and medications, with the aid of biocatalysts such as enzymes, and microbes.
Sizing and Forecast
The bioprocessing technology market size has grown rapidly in recent years. It will grow from $21.74 billion in 2023 to $25.22 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increasing demand for biopharmaceuticals, expansion of biotechnology and life sciences industries, growing investment in research and development, globalization of the biopharmaceutical market, focus on cost-efficiency and process optimization.
The bioprocessing technology market size is expected to see rapid growth in the next few years. It will grow to $43.22 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to biomanufacturing capacity expansion, emergence of advanced therapies, rising importance of single-use bioprocessing systems, increased adoption of continuous bioprocessing, strategic collaborations and partnerships. Major trends in the forecast period include personalized medicine and precision bioprocessing, regulatory compliance and quality assurance, global expansion of biopharmaceutical production, environmental sustainability, collaborations and partnerships.
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The bioprocessing technology market covered in this report is segmented –
1) By Product: Biologics Safety Testing, Cell Culture, Cell Expansion, Cell Line Development, Flow Cytometry, Tangential Flow Filtration
2) By Application: Antibiotics, Biosimilars, Recombinant Proteins, Other Applications
3) By End Use: Biopharmaceutical Companies, Contract Manufacturing Organization, Academic Research Institutes, Food and Feed Industry, Contract Research Organization
North America was the largest region in the bioprocessing technology market in 2023. The regions covered in the bioprocessing technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increased incidences of chronic diseases are expected to propel the growth of the bioprocessing technology market going forward. Chronic diseases are long-term health disorders that endure for at least a year and impair daily activities, require continuing medical care, or both. The bioprocessing technologies involves the discoveries of therapeutic proteins, polysaccharides, vaccines, and diagnostics essentials for the treatment of chronic diseases. Hence, the increased incidence of chronic diseases will support the growth of the bioprocessing technology market. For instance, in 2023, according to a report published by National Library of Medicine, a US-based medical journal, the number of people in the United States aged 50 years and older will increase by 61.11% from 137.25 million in 2020 to 221.13 million in 2050. Moreover, in the population 50 years and older, the number with at least one chronic disease is estimated to increase by 99.5% from 71.52 million in 2020 to 142.66 million by 2050. Therefore, the increased incidences of chronic diseases will drive the growth of the bioprocessing technology market.
Key Industry Players
Major companies operating in the bioprocessing technology market report are Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Danaher Corporation, Lonza Group AG, GE Healthcare, Waters Corporation, STADA Arzneimittel AG, Bio-Rad Laboratories Inc., Applikon Biotechnology B.V., Agilent Technologies Inc., Solida Biotech GmbH, Fujifilm Healthcare Corporation, Catalent Inc., Asahi Kasei Medical Inc., Amgen Inc., Eppendorf AG, Repligen Corporation, Becton Dickinson and Company, MilliporeSigma, Novasep, Boehringer Ingelheim GmbH, Cytiva AB, Wuxi Biologics, AGC Biologics, Samsung Biologics, AbbVie Inc., Bristol Myers Squibb Company, Pfizer Inc., Roche Holding AG
The bioprocessing technology market report table of contents includes:
1. Executive Summary
2. Bioprocessing Technology Characteristics
3. Bioprocessing Technology Trends And Strategies
4. Bioprocessing Technology – Macro Economic Scenario
5. Global Bioprocessing Technology Size and Growth
…..
32. Global Bioprocessing Technology Competitive Benchmarking
33. Global Bioprocessing Technology Competitive Dashboard
34. Key Mergers And Acquisitions In The Bioprocessing Technology
35. Bioprocessing Technology Future Outlook and Potential Analysis
36. Appendix
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