Bioprocess Technology Market Drivers – Geriatric Population and Biopharmaceuticals

Specialty Chemicals, Reagents and Bio-therapeutics are some of the notable products of Bioprocess Technology. The process is known for creating life sciences jewels, that help in industrial products. Few but notable stages associated with the technology are substrates and media, biocatalysts, volume production and downstream processing. It also includes purification and final processing.

One of the most significant drivers of the bioprocess technology market includes the technology’s use in development of advanced biopharmaceutical products. Besides, it is used in creating oligosaccharides (OS) such as galactooligosaccharides and fructooligosaccharides, which are used as food ingredients and are popular for being healthful owing to presence of prebiotics. These can, thus, be used to treat chronic conditions.

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Advancements made in the technology are also laying a sound foundation for future growth by creating more areas of application – pharmaceutical supplements, antibiotics, enzymes, vaccines and even food and agricultural products. Besides, players are aware of the rising preference for bioprocesses, over the traditional chemical-based variants, and are ready to make the most of the trend. It is important to note here that the market landscape is consolidated and key players include Abbott Laboratories, Philips Healthcare, Becton, Thermo Fisher Scientific Inc., Dickinson and Company, and Alere, Inc.

It is also pertinent to note here that an increase in geriatric population, coupled with rise in chronic diseases will lead to growth in the global bioprocess technology market. Worldwide, it is expected that one in six people will be occupying the age bracket of 65 and above by 20150. And, in North America and Europe, the ratio would be one is to four. This means more and more people will need advanced medical care and drugs.  Besides, there is a rise in awareness about biopharmaceuticals and preference for the same, that will drive the global bioprocess technology market onto a higher trajectory.

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Emerging Treatments for Cardiovascular Disorders to Drive Bioprocess Technology Market

Being a part of biotechnology, bioprocess technology is utilized for manufacturing biological products. These products are produced with the help of living cells like an enzyme or bacteria. Methods like degradation and microbial fermentation are utilized for manufacturing chemicals like biofuels and others for commercial use. Numerous enterprises are using bioprocess technology for emerging treatments for cardiovascular disorders. This technology has aided in changing the findings of life science into industrial and practical concepts to serve several applications. Therefore, the global bioprocess technology market is considered as the backbone of biotechnology industry. Bioprocess technology is used in applications like global warming, food processing, and pollution control.

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Continuous Evolution Propels Growth of the Market

Global bioprocess technology market has been experiencing robust growth in the recent years. This is due to the rising need for bio-based items. Biotechnology has been an essential means for offering new methods in petroleum sector at the time of oil production, processing, and refining along with managing environmentally safe pollutant disposal practices and remediation. With the improvement of technologies, bioprocess technology market has been the most substantial in the entire healthcare sector. Bioprocesses are approaches where whole living cell is utilized to get desired items.

Developed Economies like North America to Push Demand in the Market

North America held leading share in the global bioprocess technology market. This is owing to growth in the research and development activities by the companies in Canada and the United States. The need for bioprocess technology market is projected to rise at a substantial rate in the forthcoming years. This is due to growing government initiatives and emerging biotechnological industry in emerging economies like India, China and Japan.

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Bioprocess Technology Market will Represent a Value of Over US$ 22,000 Mn by 2022

The global Bioprocess Technology Market is expected to witness a healthy rate of growth over the coming years. According to a recently published report by Transparency Market Research (TMR), the market for bioprocess technology is expected to see a large number of market participants invest in the research and development in this field, to achieve and utilize the latest innovations in their product and distinguish their product portfolio. Some prominent vendors operating in the global bioprocess technology market are Corning Incorporated, Danaher Corporation, General Electric Company, Thermo Fisher Scientific Inc., Repligen Corporation, and Sartorius Aktiengesellschaft, among others.

TMR’s report on the bioprocess market predicts that over the forecast duration (2017 to 2022), the market valuation is expected to reach US$22,000 mn. Based on product, the segment of cellular culture media is expected to generate US$2,000 mn by end of forecast period.

Developing requirement for sustainable agriculture has prompted an upsurge in reception of bioprocessing technology in this sector. Reception of bioprocess technology enhances crop protection against insects as well. Additionally, producers are seen to receive this innovation as it improves the tolerance of herbicides in crops. On account of these factors, the bioprocess technology is slated to witness critical demand in the overall agriculture sector.

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The surge in interest in technological progress of the worldwide technology market is expected to contribute towards the improvement of the worldwide market. Expanding support by the administration across the globe concerning biofuel products is additionally anticipated to positively affect the rise of the market. Moreover, bioprocess technology is anticipated to encounter significant demand from the pharmaceutical industry attributable to the growing prevalence of diseases and infections.

The producers in the pharmaceutical industry incline toward utilizing disposables keeping in mind the end goal to diminish the risks related with contaminating these products. Bioprocess technology is likewise foreseen to witness substantial demand in the petrochemical segment ascribed to the strict guidelines and directions by the governments with respect to biofuel products. On account of these factors, the manufacturers in the petrochemical segment are anticipated to have a sound interest for the worldwide bioprocess technology market over the globe.

Bioprocess Technology Market to Thrive in Developed Economies

San Francisco, California, October 13, 2017: A recent market research report by TMR Research presents a thorough analytical account of the global market for bioprocess technology. The report, titled “Bioprocess Technology Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” analyzes the rate and scope of expansion of the global bioprocess technology market on a global front.

The report states that the market will gain traction in the near future and expand at a healthy pace over the report’s forecast period. The significant rise in the usage of bioprocess technologies in research and development activities associated with biopharmaceutical products has emerged as one of the key factors driving the global bioprocess technology market in the near future.

The increased usage of bioprocess technologies for the manufacture of oligosaccharides such as fructooligosaccharides and fructooligosaccharides is also a key trend having a significant positive impact on the overall scope of development of the global bioprocess technology market. These oligosaccharides are used extensively in a number of foods and beverages owing to the vast set of health benefits they offer. Rising global demand for antibiotics, vaccines, pharmaceutical supplements, enzymes, and food and agricultural products will also drive the market.

The factors influencing its growth, in a positive or a negative way, are examined and their impact on the market’s future growth prospects are predicted. Key trends and opportunities in the market are also studies and the impact of regulations concerning the bioprocess technology market is examined. Intended to update the stakeholders about the prevailing trends in the market and its future, the report presents insights into the growth drivers and restraints shaping the market’s trajectory.

Geographically, the report examines the market for bioprocess technology across regions such as North America, Europe, Asia Pacific, and Middle East and Africa. The report states that from a geographical standpoint, the market for bioprocess technology in North America presently accounts for the dominant share of revenue generated globally. The strong growth of the North America bioprocess technology market is largely influenced by the significant rise in demand for high quality biologics from a number of industries. The increased focus of market players on research and development activities is also driving the North America bioprocess technology market.

Over the report’s forecast period, the market in Asia Pacific is expected to emerge as one of the most promising destinations for bioprocess technology businesses. The regional market is driven by the vast rise in demand for biologics in the region’s thriving pharmaceutical industry, rise in research and development activities, and increased investment by market players. The trend of outsourcing biopharmaceutical production to countries in Asia Pacific is also expected to emerge as a key driving factor for the bioprocess technology market in the region in the near future.

The report presents a comprehensive overview of the competitive landscape of the global market for bioprocess technology, profiles some of the leading companies operating in the field. To present an executive-level blueprint, profiles of the leading companies operating in the market are included as well. The strategies adopted by these companies are elaborated upon and their influence on the market’s trajectory is evaluated. Leading companies operating in the global bioprocess technology market are Philips Healthcare, Abbott Laboratories, Becton, Dickinson and Company, Alere, Inc., and Thermo Fisher Scientific Inc.

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