Single-use Bioprocessing Systems Market to Witness Exponential Growth by 2024

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The highly consolidated Single-Use Bioprocessing Market is dominated by Thermo Fisher Scientific, Satorius AG, Merck KGaA, Pall Corporation, and GE Healthcare. Cumulatively, these companies accounted for a whopping 95.2% share in 2015, signaling the concentrated nature of the market by large and established players.

Transparency Market Research notes that the threat of new entrants in the single-use bioprocessing systems market is moderate owing to the fact that existing players possess brand identity and have unique proprietary product offerings. Nevertheless, the degree of competition is expected to remain moderate to high in the market over the course of the forecast period.

Transparency Market Research estimates that the global single-use bioprocessing systems market will rise from a value of US$2.3 bn in 2015 to US$5.9 bn by 2024, expanding at a robust CAGR of 11.1% over the forecast period.

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Bioprocessing bags are projected to account for a 27.0% share by 2024, emerging as the leading product segment of the global single-use bioprocessing systems market. The robust growth of the bioprocessing bags segment can be attributed to frequent and recurring purchases for several upstream and downstream functions such as mixing, filtration, storage, transport, and media preparation and fermentation. The segment is also projected to expand at a strong CAGR of 14.8% from 2016 to 2024.

Accounting for the major share in the overall single-use bioprocessing systems market, the monoclonal antibody production segment is projected to continue its lead throughout the forecast period, exhibiting a growth rate higher than the other segments. By end use, the pharmaceutical segment is projected to dominate the market for single-use bioprocessing systems. However, the CRO and CMO segment is expected to gain much traction in the coming years, registering a high CAGR from 2016 to 2024.

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