Bioprocess Technology Market
Number of pages: 100 | Report Format: PDF | Published date: March 21, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 19.5 billion |
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Revenue Forecast in 2031 |
US$ 42.0 billion |
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CAGR |
8.9% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global bioprocess technology market was valued at US$ 19.5 billion in 2022 and is expected to register a revenue CAGR of 8.9% to reach US$ 42.0 billion by 2031.
Bioprocess Technology Market Fundamentals
Bioprocess technology is a field of study that focuses on developing, designing, and optimizing bioprocesses to produce various products, including food, pharmaceuticals, chemicals, and energy. Bioprocess technology involves using living organisms or their components, such as enzymes, to conduct specific chemical reactions. The main goal of bioprocess technology is to develop efficient and cost-effective methods for the large-scale production of bioproducts while ensuring their quality and safety. This involves various steps, including selecting and cultivating appropriate microorganisms or cell lines, optimizing revenue growth conditions, designing and optimizing bioreactors, and downstream processing of the final product. Bioprocess technology has numerous applications in various industries, such as producing vaccines, antibiotics, enzymes, and biofuels. The field continues to evolve with the development of new technologies, such as genetic engineering, high-throughput screening, and process automation, which are expected to improve the efficiency and sustainability of bioprocesses further.
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Bioprocess Technology Market Dynamics
Several factors drive the global bioprocess technology market. The increasing demand for biologics, such as antibodies, vaccines, and recombinant proteins, is a rapidly growing pharmaceutical industry segment. Bioprocess technology plays a critical role in the production of biologics, and the increasing demand for these drugs is driving revenue growth in the global bioprocess technology market. Biopharmaceutical businesses are stepping up their R&D efforts as chronic diseases are increasing. The rising prevalence of cancer and other chronic disorders spurs the urge for bioprocess technology breakthroughs. As the pharmaceutical business grows, market participants in the global bioprocess technology market anticipate more revenue growth. Due to the rise in demand for proteins and vaccines, pharmaceutical and biotechnology companies have increased treatment production and funded research studies and other inquiries. Advances in bioprocess technology are leading to more efficient and cost-effective biologics production. This includes improvements in cell culture systems, bioreactors, purification methods, and analytical techniques. These advancements are helping to drive revenue growth in the bioprocess technology market. The pharmaceutical industry invests heavily in research and development activities to develop new biologics and improve existing ones. Bioprocess technology is critical to the success of these efforts, and the growing R&D activities in this area are driving revenue growth in the global bioprocess technology market. Regulatory agencies are placing more stringent requirements on the production of biologics to ensure their safety and efficacy. Bioprocess technology is essential to meeting these requirements, and the increasing regulatory requirements are driving revenue growth in the global bioprocess technology market. The biopharmaceutical industry is growing rapidly in emerging markets, such as China, India, and Brazil. This creates new opportunities for companies that expand their business in these regions and drive revenue growth in the global market.
Several factors can act as restraints on the global bioprocess technology market. The bioprocess technology requires significant investment in research and development, equipment, and infrastructure. This high cost can be a substantial barrier to entry for smaller companies, limiting competition in the market. Bioprocess technology is heavily regulated, and compliance with regulatory requirements can be a time-consuming and costly process. This complexity can act as a barrier to entry for new players in the market.
Bioprocess Technology Market Ecosystem
The global bioprocess technology market has been analyzed from four perspectives: product type, application, end user, and region.
Bioprocess Technology Market by Product Type
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Based on product type, the global bioprocess technology market has been segmented into cell culture, flow cytometry, cell line development, biologics safety testing, and tangential flow filtration.
The biologics safety testing segment is projected to grow at a high revenue CAGR during the forecast period. Manufacturers test Biologics for contaminants, including viruses, bacteria, and mycoplasma. This process is particularly important for the validation and process control of finished goods and the quality control of raw materials. Rising pharmaceutical outsourcing and increased government support for the biotechnology and pharmaceutical industries are two variables responsible for the revenue growth of the global bioprocess technology market.
Bioprocess Technology Market by Application
Based on application, the global bioprocess technology market has been segmented into biopharmaceuticals, environmental management aid, specialty products, and recombinant proteins.
The recombinant proteins segment is projected to grow at a high revenue CAGR during the forecast period. The market is growing because of the rising demand for recombinant proteins in pharmaceutical applications. Recombinant therapeutic proteins are used to treat various diseases, including cancer, diabetes, infectious diseases, anemia, and hemophilia, most effectively. Among the therapeutic proteins that are widely utilized are antibodies, interleukin, hormones, anticoagulants, enzymes, and FC fusion proteins. As a result, the market is growing faster than the prevalence of chronic diseases such as cancer and diabetes. Recombinant proteins are also useful instruments for comprehending how proteins interact with one another, and this market’s expansion is anticipated to be fueled by rising R&D spending and technical improvements. For instance, Larimar Therapeutics, Inc. reported issuing a US patent for CTI-1601 protection in October 2022. Recombinant fusion protein CTI-1601 is designed to transport human frataxin to the mitochondria of Friedreich’s ataxia patients who are deficient in this crucial protein. Thus, the revenue growth of this market is being majorly fueled by the development of recombinant proteins. Recombinant protein therapy also provides incredibly powerful treatments for diseases, such as diabetes, cancer, infectious diseases, hemophilia, and anemia. Recombinant proteins are more in demand as chronic disorders such as diabetes become more common. For instance, the International Diabetes Federation anticipated that 537 million people (20-79 years old) worldwide will have diabetes in 2021. By 2030, there will be 643 million diabetics worldwide, and by 2045, there will be 783 million instances of diabetes. As a result, the demand for recombinant proteins in the therapeutics segment is projected to experience profitable revenue growth in the years to come, helping to boost this segment as the number of people with diabetes rises.
Bioprocess Technology Market by End User
Based on end user, the global bioprocess technology market has been segmented into hospitals, CROs & CMOs, biopharmaceutical companies, and others.
The biopharmaceutical companies segment account for the largest revenue share of the global bioprocess technology market. The usage of bioprocess technology in developing numerous next-generation or highly inventive biopharmaceutical products has increased in popularity over the past few years. The scope of applications for bioprocessing techniques has expanded due to ongoing technical breakthroughs. The ever-growing interest in life science disciplines, such as biotechnology, pharmacology, and toxicology, and the increasing demand for better bioprocess technology for developing novel drugs and vaccines contribute to the segment’s revenue growth.
Bioprocess Technology Market by Region
Based on region, the global bioprocess technology market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest global bioprocess technology market revenue share. This is due to the increasing demand for biologics, personalized medicine, and the need for more efficient and cost-effective manufacturing processes. The United States is the largest market for bioprocessing technology in North America, accounting for most of the market share. This can be attributed to the strong presence of major biopharmaceutical companies, favorable regulatory policies, and advanced research and development infrastructure. Canada and Mexico are also expected to experience significant revenue growth in the bioprocessing market in the coming years. The key players in the North America bioprocessing market include Thermo Fisher Scientific Inc., GE Healthcare Life Sciences, Merck KGaA, Sartorius AG, and Danaher Corporation. These companies invest heavily in research and development to develop innovative products and technologies that meet the increasing demand for biopharmaceuticals and personalized medicine. For instance, in October 2021, 3M Health Care and Thermo Fisher Scientific collaborated to meet the growing demand for protein-based therapeutics. Manufacturers need advanced technologies and solutions that support reliable and consistent manufacturing processes. The collaboration between 3M and Thermo Fisher also enabled the manufacturers to capture high titer, high cell-density cultures to improve harvesting and clarification and optimize manufacturing capacity, quality, and efficiency. Overall, the bioprocessing market in North America is expected to experience significant revenue growth in the coming years, driven by the increasing demand for biologics and the need for more efficient and cost-effective manufacturing processes.
The bioprocess technology market in the Asia Pacific region is expected to grow significantly in the coming years. The region is experiencing rapid industrialization and an increase in demand for biopharmaceuticals and biotechnology products, which is driving the revenue growth of the bioprocess technology market. Asia Pacific is witnessing a rise in demand for biopharmaceuticals produced using bioprocess technology. The increasing prevalence of chronic diseases, such as cancer, diabetes, and autoimmune disorders, drives the need for biopharmaceuticals. The bioprocess technology industry is constantly evolving, and Asia Pacific is investing heavily in research and development to stay at the forefront of technological advancements. This is driving the revenue growth of the market in the region. Many countries in Asia Pacific are offering incentives and subsidies to companies in the bioprocess technology industry to promote revenue growth and development. This attracts investments and drives the revenue growth of the market. The biotechnology industry is growing rapidly in Asia, caused by increasing research and development activities, a large pool of skilled professionals, and favorable government policies.
Bioprocess Technology Market Competitive Landscape
The prominent players operating in the global bioprocess technology market are:
Bioprocess Technology Market Strategic Developments
The global bioprocess technology market is expected to grow at a revenue CAGR of 8.9% during the forecast period.
F. Hoffmann-La Roche Ltd., BD & Company, Thermo Fisher Scientific Inc., Philips Healthcare, and Danaher Corporation are among the key players in the global bioprocess technology market.
The biological safety testing segment accounts for the largest global bioprocess technology market revenue share.
Asia Pacific is expected to observe the highest global bioprocess technology market revenue growth in the forecast period.
The high cost and regulatory conduct are a few challenges in the global bioprocess technology market.
*Insights on financial performance are subject to the availability of information in the public domain