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The bioprocess technology market share is expected to increase to USD 55.84 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.27%.
This bioprocess technology market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bioprocess technology market segmentation by end-user (biopharmaceutical companies, contract manufacturing organizations, academic research institute, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)). The bioprocess technology market report also offers information on several market vendors, including Advanced Instruments LLC, Becton Dickinson and Co., Boehringer Ingelheim International GmbH, Catalent Inc., Charles River Laboratories International Inc., Corning Inc., Dover Corp., Emerson Electric Co., Fujifilm Diosynth Biotechnologies USA Inc., General Electric Co., Koninklijke Philips NV, Lonza Group Ltd., Merck KGaA, Nova Biomedical Corp., Repligen Corp., Sartorius AG, STADA Arzneimittel AG, Thermo Fisher Scientific Inc., Univercells SA, and Eppendorf AG among others.
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The increase in infectious diseases is notably driving the bioprocess technology market growth, although factors such as the lack of trained laboratory professionals may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bioprocess technology industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bioprocess Technology Market Driver
One of the key factors driving growth in the bioprocess technology market is the increase in infectious diseases. The prevalence of infectious diseases is increasing at a fast rate due to the growing global population. There have been several cases of diseases such as Ebola, severe acute respiratory syndrome (SARS), swine flu, Zika, and Lassa fever, which are considered global pandemics. During 2020-2021, a large population across the world was affected by COVID-19. Treating pandemic and epidemic infectious diseases require vaccines or drugs. This has led to the R and D of antiviral drugs, cell-based therapies, and vaccines using cell culture methods. Also, developing countries such as India, China, and the US are significantly investing in bioprocess technology. For instance, the Indian government planned to have 10,000 biotech start-ups by 2024 and a $150 billion bioeconomy by 2025. The growing investments and expansion in bioprocess technology across various regions will drive the growth of the market.
Key Bioprocess Technology Market Trend
The increasing clinical trials in countries is a bioprocess technology market trend that is expected to have a positive impact in the coming years. The globalization of clinical trials has consistently expanded over the past two decades, which has been credited to numerous components, including organized trials, voluntary members, accessibility of qualified local investigators, improved infrastructure facilities, and the low expense of clinical trials in developing nations such as India and China and also underdeveloped nations such as Bangladesh. The potential clinical advantages for disease-specific biomarkers incorporate faster and more accurate disease analysis and potential diminishing in sample size and time of clinical trials, which will accelerate drug development during the forecast period. The use of biomarkers in the clinical field of neurological disorders and others is expected to figure out whether a medication achieves its proposed target or changes the course of the disease. Thus, the increase in clinical trials will incorporate various bioprocess technology such as cell cultures, which, in turn, will drive the growth of the market in the region.
Key Bioprocess Technology Market Challenge
The lack of trained laboratory professionals will be a major challenge for the bioprocess technology market during the forecast period. Experiments involving bioprocess biotechnology require accurate analysis and interpretation of results for reliable results. The correlation of experimental results with the hypothesis of the experiment is crucial. Therefore, experiments involving bioprocess biotechnology must be performed by skilled personnel. As developing countries in Africa and South America lack adequately trained laboratory professionals, bioprocess biotechnology-based experiments are uncommon. Most laboratory technicians are unaware of the latest technologies in laboratory equipment and their benefits. The lack of expertise among skilled professionals in research laboratories can lead to misleading results. Thus, the shortage of trained professionals will affect the growth of the market during the forecast period.
This bioprocess technology market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global bioprocess biotechnology market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bioprocess technology market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the bioprocess technology market encompasses successful business strategies deployed by the key vendors. The bioprocess technology market is fragmented and the vendors are deploying growth strategies such as increasing their R&D investments to compete in the market.
aicompanies.com - The company offers bioprocess technology such as OsmoTECH HT Automated Micro Osmometer and Solentim VIPS.
aicompanies.com - Under the unified segment, the company offers products such as osmometers, single cell ceder, dairy testing, reagents and controls.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bioprocess technology market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bioprocess technology market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market’s growth will originate from North America during the forecast period. the US is the key market for bioprocess technology in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions.
The presence of major companies such as Becton, Dickinson and Co.(BD,) Danaher Corp. (Danaher), and Thermo Fisher Scientific, Inc. (Thermo Fisher Scientific) will facilitate the bioprocess technology market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Due to the outbreak of COVID-19, research on bioprocess technologies such as cell-based therapies and the development of novel therapies for the treatment of COVID-19 have increased in the region, which is expected to contribute to the growth of the bioprocess biotechnology market in North America during the forecast period. The funding from different societies and private organizations promotes the US and Canada to focus on drug discovery and development for neurological disorders. Therefore, growing cell-based research and therapies in the region are expected to contribute to the growth of the bioprocess biotechnology market in the region during the forecast period.
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The bioprocess technology market share growth by the biopharmaceutical companies segment will be significant during the forecast period. In the past few years, there has been a significant increase in the demand for biopharmaceutical products, especially those extracted from mammalian cells. Such products speed up the recovery process, cure a wide range of diseases, have fewer side effects compared with conventional drugs, and allow clinicians to provide tailored treatment for specific medical issues for each patient. All these advantages have resulted in an increased preference for biopharmaceutical products and thus have led to a rise in biopharmaceutical companies.
This report provides an accurate prediction of the contribution of all the segments to the growth of the bioprocess technology market size and actionable market insights on post COVID-19 impact on each segment.
Bioprocess Technology Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.27% |
Market growth 2022-2026 |
$ 55.84 billion |
Market structure |
Fragmented |
YoY growth (%) |
11.69 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Germany, UK, France, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Advanced Instruments LLC, Becton Dickinson and Co., Boehringer Ingelheim International GmbH, Catalent Inc., Charles River Laboratories International Inc., Corning Inc., Dover Corp., Emerson Electric Co., Fujifilm Diosynth Biotechnologies USA Inc., General Electric Co., Koninklijke Philips NV, Lonza Group Ltd., Merck KGaA, Nova Biomedical Corp., Repligen Corp., Sartorius AG, STADA Arzneimittel AG, Thermo Fisher Scientific Inc., Univercells SA, and Eppendorf AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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