Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Bioprocess technology is a critical part of biotechnology that deals with processes to make reagents, specialty chemicals, and biotherapeutics that combine full living matter or its components with nutrients. Substrates and media, volume production, biocatalysts, purification, downstream processing, and final processing are some of the different stages related to bioprocessing technology. It is widely used for the manufacturing of the materials such as feed, food, nutraceuticals, polymers, and pharmaceutical products.
The global bioprocess technology market has been seeing ample growth from the past few years. The market for bioprocess technology is primarily driven by large scale adoption of this technology in industries such as food and beverage, pharmaceutical, agriculture and biotechnology. Likewise, factors such as rapid growth in the biopharmaceutical industry, rising spending on research and development activities in the field of biotechnology, surge in the demand for vaccines, ongoing technological advancements, growing number of new drug production and launches, and increasing occurrence of cancer and HIV are expected to improve growth of the market during the forecast period.
Nevertheless, high cost associated with the instruments, need for high capital investments to install new production facilities, and stringent regulatory policies are some of the restraining factors that could hamper the market growth.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the bioprocess technology market. In addition, complete analysis of changes on bioprocess technology market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The study analyses global bioprocess technology market based on product type, application, end user and geography.
Based on product type, biologics safety testing segment is expected to grow at high growth rate in the coming years. Biologics safety testing is performed by manufacturers to find contaminants like mycoplasma, viruses and bacterial toxins. It is the most important process in for validation and process control of end products as well as for the quality control of raw materials. The factors such as increasing government support to biotechnology and pharmaceutical industry and rising pharmaceutical outsourcing are accredited to the market growth.
Based on application, recombinant proteins segment is projected to witness fast growth during estimated timeframe. A surge in the demand for recombinant proteins in therapeutic applications is major driving factor behind the growth of the market. Recombinant therapeutic proteins offers most significant therapies for a number of diseases, such as cancer, diabetes, infectious diseases, anaemia, and haemophilia. Common therapeutic proteins include FC fusion proteins, antibodies, interleukin, hormones, anticoagulants, and enzymes. Thus rising incidence of chronic diseases such as cancer and diabetes is directly resulting into the growth of the segment.
Based on end-use, biopharmaceutical companies segment is likely to hold largest market share during the forecast period. The application of bioprocess technology in the development of a range of next-generation or highly innovative biopharmaceutical products has gained popularity in the market for bioprocess technology over the past few years. The scope of their applications has been further expanded by ongoing technical developments in bioprocessing methods. Additionally, rapidly growing interest in sectors of life science such as biotechnology, pharmacology & toxicology and rising demand for advanced bioprocess technology for the development and production of advanced medicines and vaccines is further flourishing the growth of the segment.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share of global bioprocess technology market and is likely to dominate the market over the estimated time frame. Growth in this region can be accredited to the escalating demand high quality biologics, massive presence of several domestic and global market players and rising investment on research and development activities by these market players. In addition, factors such as increasing occurrence of chronic diseases which mainly use bio-pharmaceuticals for treatment in the region, well-established healthcare infrastructure, and rapid growth of pharmaceutical, food and beverage and biotechnology market are further expanding the market growth across the NA region.
The major key players of market includes Advanced Instruments, Agilent Technologies, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc, F. Hoffmann-La Roche Ltd, Gonotec GmbH, KNAUER Wissenschaftliche Gerate GmbH, Merck KGaA, Sartorius Group and Thermo Fisher Scientific, Inc among others.
The study analyses global bioprocess technology market based on product type, application, end-user and geography. Bioprocess technology market by product type is segmented into biologics safety testing, cell counting, cell culture, cell expansion, cell line development, flow cytometry, tangential flow filtration. The biologics safety testing segment is likely to dominate the market over the forecast period. Increased adoption of biologics safety testing process by various pharmaceutical and biotechnology companies is attributed to the market growth. The market finds application in antibiotics, biosimilars, recombinant proteins, others. The recombinant proteins segment is likely to register fastest growth in years to come owing to rising significance in therapeutic applications. By end-user, the market is segmented into biopharmaceutical companies, contract manufacturing organization, academic research institutes, food and feed industry, contract research organization.Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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