Bioprocess Technology Market: Current Analysis and Forecast (2022-2028)

Bioprocess Technology Market: Current Analysis and Forecast (2022-2028)

The term "bioprocess technology" refers to the industrial use of biological processes utilizing living cells or their constituent parts to achieve desired substrate transformation. The main benefits of using bioprocesses over conventional chemical ones are that they produce renewable by-products, need mild reaction conditions, and are more focused and efficient (biomass). In recent years, the potential of bioprocesses has increased and been broadened with the emergence of recombinant DNA technology. Rising investments in bioprocess technology are estimated to drive market growth during the forecasted period. For instance, In Feb 2022, Thermo Fisher Scientific announced to invest US$ 40 Million in bioprocess technology to support the rising production of single-use technology for critical vaccines and biologics, with an aim of ensuring the continuous supply of products.

The Bioprocess Technology Market is expected to grow at a steady rate of around 10.8% owing to the increasing incidences of infectious diseases coupled with the continuous development in bioprocess technology. Major companies in the bioprocess technology market are focusing on the development of advanced instruments for improving the efficiency of bioprocessing. For instance, In March 2019, Merck KGaA launched the BioContinuum Buffer Delivery Platform, which is more efficient for next-generation bioprocessing.

• Based on type, the market is segmented into Consumables & Accessories, and Instruments. The instrument segment is expected to witness higher CAGR during the forecast period owing to the increasing adoption of advanced products including bioprocessor analyzers, gas analyzer, bioreactors etc. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, In October 2022, Univercells Technologies launched Scale-X™ cell collect module, with an aim of assisting the inoculation step for large-scale bioreactors leveraging the principles of automation and intensification.
• On the basis of Application type, the market is categorized into biopharmaceuticals, specialty products & industrial chemicals, and environmental management aid. Among these, the biopharmaceuticals to hold a significant share of the market in 2021. This is mainly due to the rising demand of biotechnology products including pharmaceuticals, foods, flavors, and chemicals. In addition to this, increasing investment in biotechnology companies is also responsible for the increasing market share of biopharmaceuticals.
• Based on End-User, the bioprocess technology market has been classified into hospitals, research centers, and research/academic institutes. The research centers segment is to witness higher adoption of bioprocess technology during the forecast period. This is mainly due to the rising research and development in the pharmaceutical and biotechnology sector along with the increasing acquisition and partnerships in this sector. For instance,in July 2020, Sartorius AG, a leading provider of contract testing services to the biotechnology and biopharmaceutical industries, bought a majority share in CellGenix.
• For a better understanding of the market adoption of the bioprocess technology, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing prevalence of infectious diseases coupled with the continuous development in bioprocess technology. Moreover, the increasing demand of novel drug therapies is also rising the need of bioprocess technologies, which is further expected to support the market growth. Also, major players have their presence in the leading countries and also focus on investment in regional companies. For instance, In october 2022, Sartorious announced to invest US$ 265 Million in bioprocess technology in Korea by the end of the year 2024.
• Some of the major players operating in the market include Hoffmann-La Roche Ltd., Abbott Laboratories, Danaher, Lonza, Thermo Fisher Scientific Inc., Siemens Healthineers, GE Healthcare, Eppendorf AG, Sartorious, and Advanced Instruments.