Bioprocessing Market Size, Growth, Demand, Opportunities and Forecast 2030 | Philips Healthcare, Abbott Laboratories

The Global Bioprocessing Market size is estimated to be USD 21.80 billion in 2019 and is predicted to reach USD 54.02 billion by 2030 with a CAGR of 8.6% from 2020-2030.

Bioprocessing is process of using biologically derived material to formulate and develop commercial products that can be beneficial to the society. This process combines living matter, in the form of organisms or enzymes, with nutrients under specific optimal conditions to make a desired product. Bioprocess technology translates discoveries of life sciences into industrial and practical products, processes and techniques that can serve the needs of society.

Bioprocess technology is considered to be the backbone of biotechnology industry. Due to the changing economic trends, the biotechnology industry is largely focusing on improving the bioprocessing technologies in order to reduce the cost and increase efficiencies. The industry targets improvements in the production capabilities that enables lowering the operational cost and can also help in improving weak development pipelines, especially in developing economies. According to the market experts, the global biopharma processing and manufacturing environment is expected to continue improving bioprocessing, hiring skilled staff, and incorporating technological advancement to improve and increase production of biologics, small molecule drugs, biosimilars, and other formulations.

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Top Companies: Philips Healthcare, Abbott Laboratories, Thermo Fisher Scientific Inc., Becton Dickinson and Company, Alere, Inc., Bio-Rad Laboratories, Inc., Lonza Group AG, Sartorius AG, Siemens Healthneers and Danaher Corporation and others.

Market Dynamics and Trends:

The industry explores and develops new bioprocess technologies. The manufacturers prefer using disposables in order to decrease the risks associated with cross-contamination in products. Innovation in this industry is the major factor that drives the growth of global bioprocessing market. Additionally, factors such as increasing demand for biopharmaceuticals, growing investment in the R&D activities promoting the use of bioprocess technology along with the supportive government initiatives and increased prevalence rate of several acute and chronic diseases is also driving demand for bioprocess technology. However, stringent regulatory policies and high cost of instruments are likely to affect the growth of this market.

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Market Segmentations and Scope of the Study:

Global bioprocessing market share is analysed on the basis of products, type, application, end user, and geography. On the basis of product, the market is segmented into instruments and consumables and accessories. By type the market is segmented into cell expansion, cell culture, cell line development, flow cytometry, and virus infiltration. The application segment covers recombinant proteins, monoclonal antibodies, antibiotics, biosimilars and other applications. The end user segment includes biopharmaceutical companies, CROs, academic and research institutes, food and feed industry, CMOs and other end users. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.

To expand product offerings, strengthen geographical reach, increase customer base, and gain large market share various players are adopting advanced techniques in the development of bioprocess technology. For instance, Pall Corporation launched the Cadence BioSMB Process system. Alos, Novartis collaborated with the Massachusetts Institute of Technology (MIT) to create the Novartis-MIT Center for Continuous Manufacturing. Additionally, to provide maximum information regarding bioprocessing to the public, BioProcess International launched BioProcess Insider, a digitally delivered news and analysis platform that provides a perspective on the financial movements and strategic activities, the technology purchases and capacity investments, and regulations affecting the bioprocessing sector. Such developments enables the companies to strengthen their position in the competitive environment of the bioprocessing market.

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