Bioprocess Technology Global Market 2024 To Reach $45.04 Billion By 2028 At Rate Of 15.1%
The Business Research Company
The Business Research Company's Bioprocess Technology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UNITED KINGDOM, September 30, 2024 /EINPresswire.com/ -- The bioprocess technology market1 has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Bioprocess Technology Market And Its Annual Growth Rate?
The bioprocess technology market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Bioprocess Technology Market
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.
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Who Are The Key Players Shaping The Bioprocess Technology Market Trends?
Key players in the market include Sartorius AG, Danaher Corporation, Thermo Fisher Scientific Inc., Lonza Group AG, F. Hoffmann-La Roche Ltd., Becton Dickinson and Company, Merck KGa, GE Healthcare, Eppendorf AG, Bio-Rad Laboratories, Alere Inc., Fujifilm Healthcare Americas Corporation, Catalent Inc., Asahi Kasei Medical America Inc., Advanced Instruments LLC, Nova Biomedical Corporation, MilliporeSigma, Repligen Corporation, Danaher Corporation, PerkinElmer Inc., Applikon Biotechnology, New Brunswick Scientific Co. Inc., Avid Bioservices, ZETA Holding GmbH, Meissner Filtration Products, ABL Europe, ARTeSYN Biosolutions, Charles River Laboratories, Parker Hannifin Corporation, Shimadzu Corporation, 3M, Eppendorf Biochip Systems, Fermenter Bioreactor, YMC Europe GmbH, Solaris Biotechnology Srl, Aber Instruments, Cytiva.
What Are The Dominant Trends In Bioprocess Technology Market Growth?
Major companies operating in the market are innovating services options, such as the custom organoid line expansion service, to gain a competitive edge in the market. The custom organoid line expansion service is a service that uses proprietary bioreactor and bioprocess technology to scale up the production of organoids.
How Is The Global Bioprocess Technology Market 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
Geographical Insights: North America Leading The Bioprocess Technology Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Bioprocess Technology Market Definition
Bioprocessing technology is the process of producing biological products such as medicines, chemicals, and biofuels using living organisms such as bacteria, yeast, and cells. Bioprocess technology is used in the production of pharmaceuticals, meals, flavors, fuels, and chemicals with the of a biocatalyst such as an enzyme, microbe, plant cell, or animal cell in a bioreactor.
Bioprocess Technology Global Market Report 20242 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global bioprocess technology market report covering trends, opportunities, strategies, and more
The Bioprocess Technology Global Market Report 2024 by The Business Research Company3 is the most comprehensive report that provides insights on bioprocess technology market size, bioprocess technology market drivers and trends, bioprocess technology market major players and bioprocess technology market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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