The increasing prevalence of chronic diseases, such as cancer, is driving the demand within the global bioprocess technology market. Furthermore, the rising global pool of geriatric population, as well as an increase in the instances of infectious diseases, is also expected to fuel the growth of the global bioprocess technology market in the coming years. Some other notable drivers for the global bioprocess technology market include an increase in the trend of outsourcing the manufacturing projects to various contract manufacturing organizations or CMOs, and an increase in the number of CMOs over the world.
Key types of products offered by manufacturers and players in the global bioprocess technology market include instruments (such as blood gas analyzers, cell counter, spectrometer, bioreactors, filtration equipment, bioprocess analyzers, osmometers, incubators, and centrifugation, among others), and accessories and consumables (including reagents and culture media, among others). Based on the application, the products in the global bioprocess technology market can be further classified into antibiotics, monoclonal antibodies, primary surgical, recombinant proteins, and biosimilar.
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Rising Demand for Vaccines Supplements Expansion of Bioprocess Technology Market
The growth in the demand for effective vaccines as well as proteins is also expected to fuel the growth within the global bioprocess technology market in the coming years. Furthermore, the increase in the number of biopharma players using single use systems, owing to their cost-effectiveness is also a positive factor affecting the growth of the global bioprocess technology market. Some of the leading end-users for the products and solutions in the global bioprocess technology market include contract manufacturing organizations, food and feed industry, academic research organization, biopharmaceutical companies, and contract research organizations.
A few of the most notable stakeholders and manufacturers operating in the global bioprocess technology market are Siemens Healthineers, Sartorius AG, Danaher Corporation, Lonza, Nova Biomedical, Thermo Fisher Scientific, Inc., General Electric Healthcare, Becton, Dickinson and Company, Eppendorf AG, Advanced Instruments, and F. Hoffmann – La Roche, Ltd., among others. Participants in the global bioprocess technology market are focused on research and development activities to develop and discover new and innovative DNA level, as well as cell level treatment options. They are also focused on developing new treatment solutions for chronic diseases on genetic level.
The pandemic situation created by the outbreak of novel corona virus created a high burden on the healthcare industry, as well as global bioprocess technology market. In the post pandemic era, the players in the global bioprocess technology market are focusing on reallocation of budgets to strengthen their supply chains. The players in the market are focusing on increasing the access of the general population to life saving medicines and medical devices, in order to enhance patient outcomes. This trend is also anticipated to bolster the expansion of the global bioprocess technology market in the coming years.
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North America Dominates the Bioprocess Technology Market
Geographically, the global bioprocess technology market is divided between Europe, Middle East and Africa, Asia Pacific, Latin America, and North America. Among these, the North America region is anticipated to record the highest growth in the global bioprocess technology market over the next few years. The key regional economy, responsible for driving the growth of the North America bioprocess technology market is the United States. Rising geriatric population in the region, presence of a massive number of manufacturers in bioprocess technology sector, and widespread availability of latest technologies, are some of the key drivers for North America bioprocess technology market.
After North America, another lucrative region in the global bioprocess technology market is Europe. Growth of this regional market is driven by increase in the demand for various biopharmaceutical products, including monoclonal antibodies, biosimilars, and recombinant proteins, as well as the fast-paced expansion of the regional biopharma and biotech industries. Furthermore, the increasing need to reduce the costs for these highly advanced products is also driving the expansion of the Europe bioprocess technology market.