Bioprocess Technology Market size worth $ 46 Billion, Globally, by 2028 at 8.4% CAGR: Verified Market Research®
Increase in R&D, technological development in biotechnology and bio pharmaceutical industries, increased production of vaccines, government initiatives and funding's to develop bioprocess technology are some of the factors to lead the market growth.
JERSEY CITY, N.J., April 5, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Bioprocess Technology Market" By Type (Cell Culture, Cell Expansion, Flow Cytometry), By Application (Biopharmaceuticals, Specialty products, Industrial chemicals), By End-User (Hospitals, Research Labs and Centers, Medical Institutions), and By Geography. According to Verified Market Research, the Global Bioprocess Technology Market size was valued at USD 24.3 Billion in 2020 and is projected to reach USD 46 Billion by 2028, growing at a CAGR of 8.4% from 2021 to 2028.
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Browse in-depth TOC on "Bioprocess Technology Market"
202 - Pages
126 – Tables
37 – Figures
Global Bioprocess Technology Market Overview
The expansion of the biopharmaceutical industry, innovations in product offerings, and growing investment in research and development may fuel the growth of the global Bioprocess Technology Market. The growing of chronic diseases and increasing demand for vaccine development globally may drive the demand for the forecast period. In addition, increasing requirements for streamlining the method of chemical manufacturing sustained patient demand for innovative medication, and the aging population may propel market growth.
The promising market in emerging economic countries and technological advancement offers favourable growth opportunities for expansion. Increasing support by the government for biofuel products may impact the expansion of the global Bioprocess Technology Market. Bioprocess technology is experiencing a substantial demand in the petrochemical sector attributed to imposing strict rules and regulations by the government about biofuel products. High treatment costs, lack of skilled professionals, and infrastructure requirements are the factors restraints hindering the overall market.
One of the factors that help in the increase of the Bioprocess Technology Market is the increased degree of production of biopharmaceuticals like the availability of recombinant proteins, and vaccines that are part of the bio-processes undertaken by the global target audience spread in various global regions. Bioprocessing equipment specifically used in continuous biological product development is gaining significance, as these provide consistency in product quality, lower the manufacturing cycle time, and reduce capital costs & time by stabilizing bioprocessing operations.
Key Developments
- On September 2021, Cascades launched the first in the bathroom tissue and paper towel in Canada and the USA markets which are 100% recycled plastic packaging.
- On November 2020, Accrol acquired the LTC Group, a tissue converter to increase the business of good scale with high-quality, modern machine assets, comprising four tissue lines, with significant capacity, highly effective systems, and to improve day-to-day operations.
Key Players
The major players in the market are Philips Healthcare, Abbott Laboratories, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Alere Inc., Sartorius Group, F. Hoffmann-La Roche Ltd., Danaher, Merck KGaA, Applikon Biotechnology B.V., Accrol Group Holdings plc, STADA Arzneimittel AG, Bio-Rad Laboratories, and Lonza AG.
Verified Market Research has segmented the Global Bioprocess Technology Market On the basis of Type, Application, End-User, and Geography.
· Bioprocess Technology Market, By Type
- Cell Culture
- Cell Expansion
- Flow Cytometry
- Cell Line Development
- Virus Infiltration
· Bioprocess Technology Market, By Application
- Biopharmaceuticals
- Specialty products
- Industrial chemicals
- Environment Management Aid
· Bioprocess Technology Market, By End-User
- Hospitals
- Research Labs and Centers
- Medical Institutions
- Others
· Bioprocess Technology Market by Geography
- North America
- Europe
- Germany
- France
- U.K
- Rest of Europe
- China
- Japan
- India
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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